Purpose
Providing instant credit to existing KCC holders for meeting emergency requirement for agricultural purposes.
Eligibility
(a)Borrowers should be either individual or groups (not exceeding 4 farmers)
(b) Only existing KCC holders are eligible
(c) Sound track record of atleast two years is a pre requisite
Amount of Loan
Minimum Rs.1000/-
Maximum: 50% of KCC limit or 25% of Annual Income or Rs..50000/- whichever is less
Margin
Nil.
Security
Prime - Hypothecation of crops & assets created out of Bank loan. Collateral-Existing security obtained for KCC will continue.
Rate of Interest
Varies from time to time. Presently
Upto Rs.10 lacs: One year MCLR+1%
Repayment
Within 3 years in half yearly/annual instalments.
For other details, please contact your nearest IOB branch.
Loans for Investment Credit and Allied Activities against the security of Gold Ornaments
Objective
This is a package designed for farmers to avail term loan for Agricultural purpose against security of their gold Jewellery.
Individual farmers who own jewels and are engaged in Agricultural activities are eligible.
Investment activities namely land development, minor irrigation, purchase of agricultural machinery etc. and also activities allied to agriculture (dairy, sheep, goat, fisheries, duck rearing, honey bee rearing etc.),
Quantum of Loan:
You can contact our nearest branches for per gram rate of advance against gold ornaments.
Maximum loan amount per individual will be Rs.10 Lakhs.
Hypothecation of assets to be created out of Bank loan.
Pledge of gold Jewellery.
Repayment programme depends on the purpose of the loan, income generation and repaying capacity of the borrower either in monthly instalments or in quarterly / half yearly or annual instalments with a maximum period of 36 months.
Holiday Period
Maximum of one year
Upto Rs.3 lacs: One year MCLR+0.35%
Above Rs.3 lacs upto Rs.5 lacs- One year MCLR+1.65%
Above Rs.5 lacs upto Rs.10 lacs- One year MCLR+2.25%