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Objective
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The objective of the scheme is to facilitate appropriate and remunerative price to the farmers / growers and to enable them to get the benefits of improved practices of hygienic storage, pest control management, insurance etc for the farm produce.
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Target Group
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All categories of farmers (Loanee as well as non-loanee farmers).
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Purpose
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Bank extends financial assistance to farmers for storing farm produces in private/ Government warehouse / cold storages against pledge of warehouse / cold storage receipt to prevent distress sale.
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Amount
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75% of the value of the produce stored in the warehouse.
1. For Individual farmers and members of SHGs/ Joint Liability Groups:
Maximum Finance: Rs. 50 lacs for NWR & Rs. 75 Lacs for eNWR.
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Margin
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25% of the value of the goods
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Security
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Pledge of Warehouse / Cold Storage Receipt
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Rate of Interest
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Refer - Interest Rates at a Glance - (Click here)
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Repayment
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The maximum repayment period of the loan is 12 months
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For other details, please contact your nearest IOB branch.
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