S.T. LOAN AGRICULTURE KISAN CREDIT CARD

ST ADVANCES TO(VKS STY, CONS, STY, MKT STY & OTHER PRIORITY UNITS)

LT/ MT LOAN FOR PRIORITY/ AGRI. ALLIED SECTORS

M.T. LOAN UNDER NON- FARM PRIORITY SECTOR (SSI, KVIC, COTTAGE/ VILLAGE IND. & OTHER PRIORITY)

LOAN TO SELF HELP GROUP

M.T. LOAN FOR PRIORITY SECTOR (UNDER SRWTO)

Eligibility :

• Individuals, partnership firms, or companies engaged in the manufacture/processing/ preservation of goods (including ancillary industries) whose total investment in plant and machinery.

Security :

• Hypothecation of Plant & Machinery/Mortgage of Industrial Shed, any tangible asset owned by loan applicant/proposed sureties, having sufficient value commensurate with the amount of loan and which are easily marketable (immovable property, deposits, LIC policies, NSCs, KVPs, vehicles, etc.).

Sureties :

• Two guarantor

Margin :

• Vary from 10% to 25% depending upon the nature of activities undertaken by farmers.

Amount of Loan :

• Up to 75% of the project cost and subject to a credit exposure limit.

Rate of Interest :

Repayment Period :

• Normally 5 to 7 years maximum. However, the repayment period may be changed depending on the feasibility of the project/cash flows.

Working capital limits :

• May be allowed if found necessary.

Other requirements :

• Experience in the concerned line of activity.
• Project Report/quotations/estimates, permission/license/approvals from competent authorities like Health Dept., Water/Electricity Dept., Municipality/Panchayat, Pollution Control Dept. Wherever applicable.
• Copies of B/S, P/L A/c, I.T. Returns for last 3 years in case of already existing unit.

Documentation :

• Photograph
• Proof of identity, Pan Card, Aadhar Card, Voters ID Card/ Passport
• Loan Application in the prescribed form.
• Joint & Several Demand Promissory Note.
• Agreement for the loan.
• Agreement for mortgage/Hypothecation/Assignment of LIC Policies or any other tangible security acceptable to the Bank.
• Agreement for salary deduction u/s 45 of Goa Co-op Societies Act 2001, if borrower/surety is/are salaried persons.
• Tripartite Mortgage deed involving IDC, if the unit is/is to be set up in Industrial Estates set up by IDC, and NOC from IDC to mortgage the industrial plot/shed.
• The financed unit/securities should be comprehensively insured against all possible risks.
• Letter of Continuing Security (in Form L-4) for OD/CC limits.
• Valuation of assets to be hypothecated / mortgaged.
• Any other relevant document depends on the purpose and security of the loan.
• Details of Mortgaged Property and hypothecated assets shall be registered with CERSAI.