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Rural

Purpose

To meet the credit needs of farmers for their farm/ off-farm needs

Eligibility

Individual local resident farmers, preferably account holders of the Branch

Quantum of finance

Accordingly to the value of jewellery to be pledged/ card rate - Max. Rs.15.00 lakh

Security

Pledge of gold ornaments/ gold coins belonging to the farmer intending to be pledged with the Branch.

Margin

40% of value worked out on the basis of card limit as on date of finance

Rate of interest

Interest Rate as decided by the Bank from time to time. (ROI applicable to Agriculture)

Repayment

Max. 18 months

Documents

Latest copies of land records