Bank of India CC Loan

Can you tell me in detail about the Eligibility requirement for CCC or Composite Cash Credit facility offered by BOI (Bank of India)?

[pawan]

CCC or Composite Cash Credit facility offered by BOI (Bank of India) enable the farmer to undertake improved practices of crop production with Bank’s credit assistance and increase farm production and productivity.

It also provides the farmer a fully liquid savings module by allowing to earn interest on credit balances in the composite cash credit account when he is cash rich.


Eligibility

Individual farmers, registered partnership firms, companies, registered farming co-operative societies owning agricultural land, registered tenants / share croppers with recorded rights are eligible for availing crop finance.

Only farmers engaged in production of crops and produce suitable for storage in the cold storage / warehouse godown / regulated market yard are eligible for finance against storage receipts.

The farmers who have availed of crop loans from the Bank for raising the concerned crop in that season are eligible for finance under produce marketing loan scheme.


Technical Feasibility
Suitability of soil, climate and availability of adequate irrigation facilities
Suitability of the produce for storage
Suitability of the storage unit

Financial Viability
The expected incremental income should be adequate to repay the advance leaving sufficient balance for farmer’s domestic needs.


Rate of Interest
On Debit Balance: As advised by Head Office from time to time
On Credit Balance: Rate of interest payable will be as per Savings
Bank interest rate and follow the Savings Bank
Rules except opening a separate account


Details of CCC by BOI (Bank of India)