J&K Bank High Density Plantation Scheme for Progressive Farmers without Govt. Subsidy

Security

Margin

Product Details

“J&K Bank High Density Plantation Scheme for Progressive Farmers without Govt. Subsidy” for Apple, Pear, Cherry, Olive, Kiwi, Mango, Litchi, Citrus, Guava, Dragon fruit, Almond & Walnut.

All individual famers owning and possessing cultivatable land of 1 Kanal and above (owned or on lease based land). Affidavit from the farmer to be obtained ascertain the feasibility of the land for high density plantation.
For beneficiaries opting for loan facility from the bank, maximum age limit at maturity for individual is 70 years. However, in case of individuals above the age of 70 years (at maturity of loan), loan facility may be sanctioned with at least one of the legal heirs as joint borrowers /co-borrowers who is/are having age of less than 70 years at maturity of loan.

Loan to growers shall be allowed at the Branch nearest to his/her residence or the branch nearest to land where HD Plantation has to be established.
Loans against 3rd party guarantee up to a limit of Rs 20.00 lakh.

Primary Security	Collateral Security
Hypothecation of assets created out of bank finance, other movable assets and receivables.	i) Up to Rs. 5.00 Lakh No collateral security
	ii) Beyond Rs. 5.00 Lakhs & up to Rs. 20.00 Lakh Third party guarantee of two persons of sufficient net worth to cover the exposure.
	iii) Beyond Rs. 20.00 Lakh Mortgage of property having minimum realizable value equal to 75% of the limit.

The term loan facility shall be priced (fixed) as per following with yearly rests to be applied on last day of December every year.

Term Loan
Repayment in seven yearly installments after expiry of moratorium period.
For disbursements made during a particular calendar year, moratorium period shall be up to 31st December of 3rd year.