Gold is the one of the quickest way to get funds for Agriculture development. Avail the KCC gold overdraft with government Interest subsidy.
Eligibility and Terms
i. Short term Crop loans for Crop Cultivation
ii. Working capital finance for Animal Husbandry / Fisheries & Allied Activities only along with Crop Loan
All Farmers – Individuals who is owner cultivator and owner cultivator engaged in the activities of Animal Husbandry / Fisheries / Sericulture / Bee Keeping, along with Crop Loan.
Minimum loan : Rs.1,60,001/-
Maximum loan : Rs.3,00,000/-
(However, Animal Husbandry/Fisheries component not to exceed Rs.2,00,000/- within the overall Rs.3,00,000/-, as per the RBI Guidelines on KCC Interest Subvention Scheme)
First Year Limit:
Scale of Finance for the crop (as decided by District Level Technical Committee / SLBC) x Extent of area cultivated + 10% of limit towards Post-Harvest/Household/Consumption requirements + 20% of limit towards repairs and maintenance expenses of farm assets + crop insurance.
Limit for second & subsequent years:
First year limit for crop cultivation purpose arrived at as above plus 10% of the limit towards cost escalation / increase in Scale of Finance (SOF) for every successive year (2nd, 3rd, 4th and 5th year)
Animal Husbandry & Fisheries
Quantum of Credit for Working Capital to be fixed based on the scale of finance fixed by the District Level Technical Committee (DLTC) / State Level Bankers Committee (SLBC)
Margin :- NILL
(Since The contribution of family members, their farm implements’ usage value etc. are excluded while fixing scale of finance.)
Validity period : 5 years (Subject to review once in a year)
In addition to primary Collateral Security
Gold Jewels / Ornaments (instead of landed properties), the maximum loan amount should be fixed at less than or equal to 85% LTV.
Interest Subvention Scheme: GOI is giving interest subvention benefits to farmers for short term crop loans at 2% from ROI for crops loans upto Rs.3.00 lakhs and additional 3% for prompt Repayment within one year.