Objective

Finance to fishery sector (Inland as well as Marine)

Purpose

For fish culture, boat loan, construction/deepening/widening/desilting of ponds, purchase of fingerlings, equipment’s, manures, feeds and labour inputs etc.

Eligibility

• Individual, Company, Partnership firm, Co-operative society, Group of fish farmers -SHG/JLG.
• Loan will be sanctioned depending on the area of cultivation.

Nature of Facility

Term Loan & Working Capital

Margin

• Up to Rs.1.60 lakh- Nil
• Above Rs.1.60 lakh- Minimum10%

Loan Amount

Based on the NABARD unit cost subject to economical viability of the project.

Repayment Schedule

Maximum 7 years including moratorium period of maximum 6 months.

Security

• Loans up to Rs.1.60 lakh –

Hypothecation of asset created out of bank finance.

• Loans above Rs.1.60 lakh-
• Hypothecation of asset created out of bank financeand;
• Mortgage of land (Accepted value of land should not be less than  100% of loan amount) &/ or third party guarantee (means should not be less than 100% of loan amount).

Forms & Documents

• Appropriate DPN note, Deed of Guarantee, Letter of continuity,  Hypothecation agreement, Mortgage deed ,Letter of general lien and setoff, Undertaking from borrower /Guarantor for disclosure to CIBIL , Declaration/undertaking for Agriculture advance and any other document stipulated in sanction.