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.
- 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.
- 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.
- Term Loan: Upto 9 years including maximum holiday period of 2 years.
- 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 Dec 07, 2022 at 11:12:46 AM )