Objective The objective of the scheme is to facilitate appropriate and remunerative price to the farmers / growers and to enable them to get the benefits of improved practices of hygienic storage, pest control management, insurance etc for the farm produce. Eligibility All categories of farmers (Loanee as well as non-loanee farmers). Purpose Bank extends financial assistance to farmers for storing farm produces in private/ Government warehouse / cold storages against pledge of warehouse / cold storage receipt to prevent distress sale. Amount 75% of the value of the produce stored in the warehouse. 1. For Individual farmers and members of SHGs/ Joint Liability Groups: Maximum Finance: Rs. 50 lacs 2. Partnership firms, Corporates & other institutions: Minimum Finance : Rs. 10 lacs Maximum Finance: Rs. 50 lacs Margin 25% of the value of the goods. Security Pledge of warehouse / Cold storage receipt Repayment The maximum repayment period of the loan is 12 months Rate of Interest Varies from Time to time. Presently Upto Rs. 10 lacs: One year MCLR+0.35%. Above Rs. 10 lacs upto Rs. 50 Lacs: One year MCLR+0.90%. For other details, please contact your nearest IOB branch.
Objective
The objective of the scheme is to facilitate appropriate and remunerative price to the farmers / growers and to enable them to get the benefits of improved practices of hygienic storage, pest control management, insurance etc for the farm produce.
Eligibility
All categories of farmers (Loanee as well as non-loanee farmers).
Purpose
Bank extends financial assistance to farmers for storing farm produces in private/ Government warehouse / cold storages against pledge of warehouse / cold storage receipt to prevent distress sale.
Amount
75% of the value of the produce stored in the warehouse.
1. For Individual farmers and members of SHGs/ Joint Liability Groups:
Maximum Finance: Rs. 50 lacs
2. Partnership firms, Corporates & other institutions:
Minimum Finance : Rs. 10 lacs
Margin
25% of the value of the goods.
Security
Pledge of warehouse / Cold storage receipt
Repayment
The maximum repayment period of the loan is 12 months
Rate of Interest
Varies from Time to time. Presently
Upto Rs. 10 lacs: One year MCLR+0.35%.
Above Rs. 10 lacs upto Rs. 50 Lacs: One year MCLR+0.90%.
For other details, please contact your nearest IOB branch.