PURPOSE – To provide extension and other services to farmers on payment basis and to support agriculture development and entrepreneurship
ELIGIBILITY – Graduates in Agriculture and allied subjects from State or central Agriculture Universities, Universities recognized by ICAR or UGC etc
QUANTUM OF LOAN – The ceiling of project cost for individual projects will be Rs. 10.00 lakh. The ceiling of project cost for group projects would be Rs. 10.00 lakh per trained graduates, subject to an overall ceiling of Rs. 50.00 lakh.
RATE OF INTEREST – 10.00% p.a. up to Rs.2 lakh and above 11.00% p.a. Rs. 2 lakh
SECURITY – Up to Rs. 5 lakh loan can be secured against hypothecation of assets; above Rs. 5 s against hypothecation of assets and SRM agriculture land.
REPAYMENT – Repayment Period will depend on the nature of activity and will vary between 5 to 10 years. The repayment period may include a maximum grace period of 2 years
SUBSIDY – Credit linked capital subsidy at the rate of 25% of the capital cost of the project funded through bank loan would be eligible. This subsidy would be 33.33% in respect of candidates belonging to SC, ST, women and other disadvantaged sections and those from North Eastern and Hill States.
The bank has a tie up with 166 Companies or Corporate providing personal loan, House building loans, vehicle loans & educational loans.