Last Updated on 25/07/2017
IOB Urban Horticulture Yojana

 Objective  To extend retail credit facility on easy terms for raising kitchen garden or decorative horticulture.
 Eligibility Individuals possessing independent houses having atleast 500 sq ft of open space.

Salaried persons, professionals and businessmen having steady income.

Privately owned institutions having atleast 1000 sq ft of open space for gardening are eligible.
 Purpose For raising kitchen gardens, flower gardens, small orchards , roof gardens  in independent houses, bungalows, guest houses, offices and private institutions having open space inside their compounds.
Amount of Loan Minimum loan amount : Rs 33000/- (for 1000 sq ft of area)
Maximum loan amount :  For Individuals : Rs 2.5 lacs, 
For Institutions : Rs 25 lacs
Margin No margin for loans upto Rs 1 lac.  
15 % margin for loans above Rs 1 lac.
Security
For loans upto Rs 1. lac:
Prime: Hypothecation of crop and assets created out of loan. Collateral Security is waived.

For loans above Rs 1 lac:
 
1. For Employees: Undertaking letter from employer for routing of salary through the branch backed by standing instructions.

2. For Other individuals: Third party Guarantee of an individual with worth not less than that of the borrower.

3. For institutions: Collateral security of atleast 50 % of the loan amount and oersonal guarantees of Partners/trustees/promoters.

4. Hypothecation of crop and assets created out of loan, for all the above cases.
Repayment 12 to 24 EMI for individuals. 12 to 36 EMI for Institutions.
Rate of Interest As applicable to Agricultural term loans
Remarks You may contact the nearest Branch for other details of the Scheme.