- To meet the short term production / investment credit needs of a farmer.
- All other farming activities which are permitted to be classified under agriculture as per RBI/GoI/NABARD guidelines and not covered under the Agri interest subvention scheme.
- Minimum age criteria: 21 Years
- Farmer (including tenant farmer, oral lesses & share croppers) having minimum age 21 years.
- Any person engaged in agriculture or allied activities as well as persons engaged in activities permitted by RBI to be classified under agriculture segment.
- Loan is to be given against gold ornament of 18 carat & above.
- Demand Loan / Cash Credit
- Rs. 10.00 Lakh (For Bullet repayment type loan Rs. 2.00 Lakh)
Rate of Intrest
- For Cash Credit:- within 12 months.
- For Demand Loan: within 36 months.
- For Bullet Repayment type loan: within 12 months.
Proposal Processing Charge
- For BIS Hallmarked Jewellery/ Ornaments and specially minted Gold Coins sold by Banks: 0.50% of sanctioned limit.
- For Non Hallmarked Jewellery / Ornaments: Loan Up to Rs.25,000: Rs.250/- Fixed per application. Above Rs.25,000/-: 0.50% of loan amount Min. Rs. 500/-
- 35% for bullet repayment type loan.
- Not Applicable
- Gold Ornaments will remain as pledged to the bank.