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Rural

Objective

The following activities can be considered for financing under Minor Irrigation

  • Lift Irrigation,Well Irrigation,Drip Irrigation,Sprinkler Irrigation,Electric Motor & Pump Set,Diesel Engine
  • Construction of pump house/water delivery channel
  • Payment of deposit to the State Electricity Board

Purpose

The following activities can be considered for financing under Minor Irrigation,

  • Lift Irrigation
  • Well Irrigation
  • Electric Motor & Pump set
  • Diesel Engine
  • Construction of pump house/ water delivery channel
  • Payment of deposit to the State Electricity Board also be considered
  • Any other type of need based facility/construction suitable to the topography of the agricultural field

Eligibility

As per unit cost of the project

Security

Principal/ Collateral

  • Loans upto Rs.1.60 lakh –
  • Hypo. of Assets purchased/ created out of Bank finance.
  • Loan limit above Rs.1.60 lakh -
  • Hypo. of Assets purchased/ created out of Bank finance.
  • Mortgage of land or Declaration as per Agril. Credit Act or Collateral Security of adequate worth
  • Third Party Guarantee.

Margin

  • Loan upto Rs.1.60 lakh - Nil
  • Loan over Rs.1.60 lakh – 15% to 25%

Rate of Interest

Interest Rates as decided by the Bank from time to time

Repayment

Repayment inclusive of gestation period is as under -

  Repayment period Moratorium period
Dugwell with or without pump set/ oil engines 11-15 years 23 months
Deepening of well 5 years 11 months
Pump set/ Oil Engine 9 years 11 months
Bore Well 11-15 years 11 months
Sprinkler/ Drip Irrigation 10-15 years 11 months
 

Repayment in half yearly/ yearly installments as per cropping pattern