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| Loan Against Warehouse Receipt |
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| Features | | | | Forms & Documents | | | | FAQs | | |
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| LOAN AGAINST RECEIPT OF WAREHOUSE/COLD STORAGE |
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| Loan against receipt of warehouse/cold storage is available to provide liquidity to the farmers and prevent them from resorting to distress sale of their produce at the time of harvest. |
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| Eligibility:- |
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- Existing/Prospective customers of the Bank viz. proprietorship concerns/partnership firms/corporate /individuals trading in agriculture commodities.
- Arthias in rural and semi urban areas
- Food and Agro based processing units using Agricultural Commodities as raw materials
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| Quantum of loan:- |
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Up to 50%-75% of the value of commodities. Value of commodities shall be the lower of the following:
1. Value of commodities based on the prices from the nearest Govt. approved mandi (APMC) on the date of disbursement.
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2. Price cap of a commodity communicated by Bank.
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| MARGIN, I.E. YOUR SHARE:- |
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Commodities approved
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(In %)
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Wheat, Rice (Common), Rice (Fine), Paddy (Common), Paddy (Fine), Paddy(Super Fine/Basmati), Soyabean, Cotton Bales-Medium Staple, Cotton bales-Long Staple, Rubber, Sesame seed, Castor seed
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25
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Masur, Masur dal, Maize, Gram, Chana dal, Cotton Seed, Tur, Tur dal, Urad, Moong, Groundnut Seed(Kernels),Ground nut in shell, Black pepper, Mustard, Sunflower, Jaggery, Guar seed, Guar gum, Cotton seed oilcake, Ground nut oilcake, Mustard oil cake, Soya oilcake, Yellow peas, Bajra, Jowar, Jeera, Jute
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30
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Turmeric, Lin seed (Alsi), Chillies, Ajwain, Psyllium(Isabgul), Methi Seeds, Tamarind (With Seed), Tamarind (without seed)
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35
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Potato, Coriander
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50
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| Rate of Interest:- |
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| Please contact the nearest Union Bank branch for details |
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| Repayement:- |
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| Each drawl has to be repaid within 10 months. Though repayment period of 10 months is allowed, it is advisable to get the drawls adjusted before arrival of new crop. |
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| Security:- |
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| Pledge of Warehouse Receipts of approved warehouses. No other collateral is required. |
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| Documents like DPN, Pledge agreement, Declaration by the borrowers and Letter of continuity once obtained is valid for 3 years. Warehouse Receipt endorsed in favour of Bank, Lien marked in the books of warehouse, Take delivery letter is required for each warehouse receipt against which finance will be made. Stamping fee will be according to norm of the state. |
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To download the application form, please click here
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| 1. Who can avail this Scheme? |
- Existing/Prospective customers of the Bank viz. proprietorship concerns/partnership firms/corporate /individuals trading in agriculture commodities.
- Arthias in rural and semi urban areas.
- Food and Agro based processing units using Agricultural Commodities as raw materials.
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| 2. How the value of the crop will be determined? |
| The value of the crop will be one of the values mentioned below:
1. Value of commodities based on the prices from the nearest Govt. approved mandi (APMC) on the date of disbursement.
OR
2. Price cap of a commodity communicated by Bank.
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