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Last Updated on 22/02/2018
IOB - Krishi Samridhi Scheme

Objective

To provide credit facilities to meet both the production and investment credit needs of farmers

Eligibility

 Individual farmers/Group/Proprietor/Partners/Corporates

 Purpose

  • To provide agricultural term loans under

(a) Farm credit including allied activities

(b) Agricultural infrastructure

(c) Ancillary Agricultural Activities.

Amount of Loan

  • Loan amount - above Rs. 1 lac upto Rs. 25 lacs.
  • Project cost less promoter's margin or entitlement on the basis of collateral security whichever is lower.

Margin

15% to 25%

Rate of Interest

Varies from time to time. Presently

Upto Rs.5 lacs: One year MCLR+1.40%

Above Rs.5 lacs upto Rs.25 lacs- One year MCLR+2.25%

Security

Hypothecation of assets created out of Bank loan

Collateral:

a)   Liquid Security:

  • Bank's deposits/ Life Insurance policy of any IRDA approved Insurance company /NSC/KVP upto following ceilings:
  • Life policies - 90% of surrender value
  • NSC/KVP - 90% of Face value
  • Term Deposits of our Bank - 90% of present value.

b)   Immovable property:

  • landed property situated in metro/urban/semi urban areas -70% of forced sale value
  • Landed property situated in rural areas - 60% of forced sale value.

Repayment Period

  • 7-9 years including holiday period, in yearly/Half yearly/Quarterly/Monthly installments depending upon the cropping pattern or income generation from the activity.

Holiday

  • Gestation/Holiday period may vary from 3 months to 18 months depending upon the activity.

For other details, please contact your nearest IOB branch.