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Special Loans & Schemes
 
 
 
 
 
 
 
 
 
Loans : Construction of Cold Storage

SCHEME FOR FINANCING CONSTRUCTION OF COLD STORAGES/ GODOWNS

 

PURPOSE BEHIND SCHEME FOR FINANCING CONSTRUCTION OF COLD STORAGES /GODOWNS:-

 

  • To meet the production, investment, and consumption needs of the farmer, i.e. cultivation of crop, purchase of farm equipment, etc., allied activities and consumption needs like marriage, medical treatment, education, etc.
  • To cover farmers having proven track record and also new farmers who are either not availing any loan or if availing finance from some other Bank, can be taken over if the repayment record is clean and their existing loan account is standard asset. Alternatively they can close their account with their existing Banks and switch over to us.

 

Eligibility:-

 

All Co-Operatives, Companies, Corporations, Partnership and Proprietary Firms, Agriculture Produce Marketing Committees/Boards, Agro Industries Corporations and Growers' Associations, Individuals.

 

Quantum of loan:-

 

50% of the project cost may be considered as term loan. The eligible amount of subsidy also would be allowed as term loan as the subsidy is back ended.

 

Margin:-

 

25% of the project cost to be contributed by the applicant.

 

Rate of Interest And Processing charges:-

 

Please click here to know our latest rate of interest

 

Repayment Period:-

 

Maximum 120 months with 18 months moratorium

 

Subsidy:-

 

Cold storage unit is eligible for subsidy of 25% of the project cost.

 

 

 

LIST OF DOCUMENTS

  • D.P. Note
  • Equitable mortgage of Cold Storage/Block Assets.
  • Personal Guarantee of applicant/ Directors/Partners

 

1. How will the project cost be determined?

The project cost will depend upon the capacity and technology used for cold storage and will be arrived at on the basis of actual estimates/invoice prices of machineries, etc.

 

2. Is there any grace period available?

A grace period of one year is available for this loan.