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| Allied Activities [Activities allied to Agriculture] |
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| Features | | | | Forms & Documents | | | | FAQs | | |
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| LOAN FOR AGRICULTURE ALLIED ACTIVITIES |
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What is the purpose of providing loan for Allied Activities?
The purpose behind providing loan for allied activities is to give hassle free and adequate credit i.e. working capital and term loan for agriculture allied activities, mainly livestock rearing, like Dairy, Poultry, Goatery, Piggery, sheep rearing, etc. |
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| Eligibility:- |
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| Individuals/SHGs having knowledge in running the activity. |
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| Quantum of loan:- |
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| As per the NABARD, the quantum of loan will depend on the unit cost with applicable margins subject to economic viability. |
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| Margin:- |
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| Up to Rs.1,00,000/- - Nil
Above Rs.1,00,000/- - 10% to 15%.
Subsidy if any will be treated as part of margin.
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| Security:- |
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- Up to Rs.1,00,000/- -- Hypothecation of assets/crops be taken.
- Above Rs.1,00,000/- -- Mortgage of land and/or third party guarantee will be taken in addition to hypothecation of crop or asset.
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| Rate of Interest And Processing charges:- |
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| Please contact the nearest Union Bank branch for details |
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| Repayment Period:- |
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| 3 to 6 years. |
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| Insurance:- |
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| All movables of the unit will be insured as per norms. Insurance of poultry birds is optional. The poultry borrower can contribute towards a separate risk fund in lieu with insurance . |
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LIST OF DOCUMENTS
- D.P. Note.
- Hypothecation of animals/birds/equipments/feed, etc.
- For loans above Rs.1,00,000/-, Mortgage of land and super structures &/or Third Party Guarantee, in addition to hypothecation of assets.
- Comprehensive insurance of animals/birds/equipments.
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| 1. Which purposes are eligible for the loan? |
| Purchase of Animals/Birds, Equipments, Construction of Shed and Working Capital for the activity. |
| 2. Are groups eligible for this loan? |
| Yes, Self Help Groups with knowledge of running the activity are also eligible for this loan. |
| 3. Will there be insurance coverage for animals? |
| All animals in the farm will be insured. Poultry farmers can also contribute to a separate risk fund in lieu with insurance. |
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