Development loans for plantation

Loan for purchase of estate or land are not considered.
Loans are granted for establishment of estates / orchards clearing of jungle, leveling of land, conversion of barren land into cultivable land, minor irrigation, fencing, construction of labour lines, farm house, purchase of planting material, maintenance cost till bearing and other inputs, rejuvenation/replanting.

The applicant should own economic land holding depending upon the type of crop proposed.
The applicant should have experience/knowledge in the proposed activity.
Technical advice on various aspects should be available from an extension agency
Wherever commodity boards are constituted for the development/ marketing of such crops, registration with such boards are manadatory.

Margin

Up to₹.1.60 lakhs - Nil
Above₹.1.60 lakhs 15-25% depending on the purpose and quantum of loan.

Quantum

As per the project

Security

Loan Quantum	Security to be stipulated
For Loan upto Rs. 1.60 Lakhs	Hypothecation of crops/assets created out of our finance.
For loans above Rs. 1.60 Lakhs to Rs. 2.50 Lakhs	In States where online/Manual charge creation is not available	In States where online/Manual charge creation is available
For loans above Rs. 1.60 Lakhs to Rs. 2.50 Lakhs	Hypothecation of crops/assets created out of our finance. Mortgage of landed properties.	Hypothecation of crops/assets created out of our finance. Creation of charge on land records.
For loan above Rs. 2.50 Lakhs	Hypothecation of crops/assets created out of our finance. Mortgage of landed properties.	Hypothecation of crops/assets created out of our finance. Mortgage of landed properties. Creation of charge on land records.

Repayment

Period

To be repaid in 10 to 15 years depending upon the pattern of income

generation.