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17th February 2017, 04:01 PM
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Join Date: Mar 2013
Re: SBBJ Gold Loan Scheme

Well the SBBJ-AGRI gold loan scheme is for purchase of inputs, to meet expenditures incurred for raising crops or for creation of assets to be used in farming operation or for allied activities like Dairy, Poultry, Fisheries etc.

Eligibility

Loans upto .1.00 lac to small & marginal farmers, landless labourers, oral lessees & share croppers on declaration basis

Provided the sanctioning authority is satisfied that the funds are for raising crops.

For loans above`.1.00 lac proof of farming activity required.


Quantum of loan


Not higher than the advance value of gold ornaments/coins subject to maximum of `.15.00 lac.

Interest Rate

At half yrly.

Intervals as per rates prescribed for agricultural advances.

In case of gold loan for crop production purpose RoI would be 7% upto `.3.00 lac.

For other agricultural allied activities & indirect agricultural loans RoIwil be

(i) upto `.3.00 lac – 1.50% above Base Rate and

(ii) Above `.3.00 lac – 2.50% above Base Rate.

Repayment Tenure

For Cash Credit / Over Draft:

As KCC, subject to review at annual intervals.

Outstanding in the loan account should never exceed the market value of ornaments/coins, at any point of time.

For Demand Loan / Term Loan:

Repayment should coincide with the harvesting & marketing with a 2 to 3 months grace period after harvesting,

Total period will generally not exceed one year from disbursement for short term production credit loans & 36 months in other cases.


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