Particulars

Guidelines

Target Group

• Woman from credit linked SHG sponsored by DAY-NRLM, with regular repayment records.
• SHG SB account should be active and at least two years old.

Types of facility

Term Loan

Objective

Purchase of Milch Animals

Quantum of finance/Assessment

•  Minimum: Rs.75,000/-
•  Maximum: Rs.2,00,000/-

(Based NABARD Unit Cost)

Margin Norms

• If the total aggregate loan amount of existing & proposed Agri loan is less than or equal to ₹2.00 lakh, margin is NIL. If it exceeds 2 lakhs, margin is 10%.

Repayment Period

Loan amount repayable in 60 Monthly instalments

Processing fee & other charges for Term Loan

As per circular on service charges related to Agri advances issued from time to time.

Rate of Interest

Please refer the Lending Rates link on home page in our Bank’s Website www.indianbank.bank.in.

Security Norms

•  Primary Security: Hypothecation of Milch Animals purchased out of Bank Finance.
•  Credit Guarantee Coverage: Mandatory coverage under CGFMU.
•  Collateral & Personal Guarantee: No Collateral Security or Third-Party Guarantee

Other Guidelines

• DAY-NRLM unique reference code assigned for SHG and individual SHG members
• Forwarding letter (sponsorship letter) by NRLM/SRLM officials.