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Agricultural Godowns / Cold Storage

Agricultural Godowns / Cold Storage

Purpose / Objective

  • For construction of new Agri Godowns or cold storages, market yards, silos / expansion of existing units / modernization of existing units, irrespective of their location.

Eligibility

  • Individuals, Group of Individuals
  • Association of  persons, Cooperatives, firms,  companies etc.,

Types of Facility Available

  • Term loan
  • Cash Credit

Amount of Loan

  • Term loan : Based on the Project Cost
  • Working Capital: Cash budget method to assess the WC irrespective of limits.

Margin

  • Term Loan :  25% ( Minimum )
  • Working Capital :  30 %  (Minimum)

Interest Rates

  • Please refer the Lending Rates link on home page in our Bank`s Website – www.indianbank.in

Repayment

  • Term Loan: Upto 9 years including maximum holiday period of 2 years.

Security

  • Mortgage of land & building of the Cold Storage constructed.
  • Hypothecation of assets created out of Bank Finance (Stock of Cold Storage Owner).
  • Assignment of receivables/ book debt arising out of advances to farmers for storage of agricultural commodities.
  • Wherever, WC limit is sanctioned for the purpose of on-lending to farmers, collateral security value equivalent to 100% loan amount to be obtained.
  • Collateral security in the form of FD, NSC, LIC Policies, Equitable Mortgage of immovable properties as per credit rating of borrower
  • Minimum Security Coverage Ratio of 1.20 should be maintained at all times.
  • Guarantee: Personal guarantee of partners/directors.

* MCLR RATE – Available In Home Page

( Last modified on Apr 13, 2020 at 04:04:03 PM )