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image    LOAN AGAINST RECEIPT OF WAREHOUSE/COLD STORAGE(FOR FARMERS)

 
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
ELIGIBILITY
  • Non-defaulting farmers who have availed crop loans from our Bank.
  • Other farmers in Service Area/ Command Area having no dues/no objection with/from other banks.
  • Advance can be granted to a farmer against produce stored in Central, State Warehouses, NBHC warehouses or Approved Warehouses/Cold Storages.
  • Advance can also be granted to a farmer against produce stored separately in his rural godown/house itself.
QUANTUM OF LOAN
Up to 75% of the market value or value as per minimum support price of agricultural commodity as declared by the Government whichever is lower, subject to a maximum of Rs.50.00 lacs-.
MARGIN
Please click here to know our latest rate of interest
REPAYMENT
THE ENTIRE LOAN AMOUNT ALONG WITH ACCRUED INTEREST TO BE RECOVERED WITHIN 12 MONTHS OF AVAILING LOAN..
SECURITY/DOCUMENTS
DPN
Pledge/Lien of warehouse receipts covering stocks of agricultural commodities in warehouses of Central/State Warehousing Corporations and/or approved private warehouses/cold storages or Hypothecation/pledge of agricultural produce stored separately with the cultivator. .
Interest Subvention
Interest subvention to small and marginal farmers on loans against Negotiable Warehouse Receipt (NWHR) for maximum period up to 6 months .
[B] FORMS AND DOCUMENTS
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..
[C] SPECIAL SCHEMES AND OFFERS
IF ANY .

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