Eligibility Criteria:
- Individuals, HUF, Partnership firm, Company and any other legal entities engaged in trading/processing of agricultural commodities for at least 3 years.
Purpose:
- For financing to traders and millers against pledge of their agricultural commodities purchased/processed by them (paid commodities) and stored/kept under Collateral Management arrangement.
Amount of Finance:
- Up to 70% of the value of the produce kept in cold storage/ Warehouse/Godown.
- Maximum loan - ₹200 lakh & Minimum loan - ₹10 lakh.
Maximum period of Loan:
- Based on the shelf life of commodity as decided by the holder of the commodity.
- The period of loan shall be 3 months less than the validity period specified in the storage receipt or 12 months, whichever is less.
Security:
- Pledge of the agricultural goods by way of deposit of original Storage Receipts, evidencing the stock of specified produce, issued by the empanelled Collateral Managers.
Repayment:
- Lump sum before due date or at the time of release of pledged goods, whichever is earlier.
- Monthly interest is to be recovered as and when debited.
Rate of interest:
As per MCLR guidelines
The above information is subject to terms and conditions.For more details, please contact the nearest Branch
