#1
19th September 2016, 04:43 PM
| |||
| |||
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)?
|
#2
19th September 2016, 05:51 PM
| |||
| |||
Re: Bank of India CC Loan
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) |