13. Scheme For Kinnow Plantation

Loan Amount : Minimum Rs. 2.60 lacs and Maximum need based.

Loan Term:

a) Repayable in 10 years with initial 5 years moratorium period for both principal and interest repayment
b) Cash Credit on demand with renewal every year..

Interest Chargeable:

Term Loan: 0.50 % above BR i.e. 10.15% 

Working capital :1.50% above BR i.e. 11.15% (upto  Rs. 3.00 lacs @ 7% subject to availability of interest subvention from GOI)


Fee Payable during the term of the loan

1. On Term Loan

 i) Upfront fee - 1.15% of loan amount
 ii) Inspection  Charges - > Rs. 2 lacs but upto Rs.1 Crore -Rs. 500/- per lac p.a.
      
2. On Working Capital

Processing Charges
i) > Rs. 2 lac upto 3 lacs-Rs. 100/- per lac
ii) > Rs. 3 lac-0.30% of loan amount, Maximum. Rs.30 lacs

Inspection charges- as mentioned above in Term Loan  
     
EMI payable: Term loan @ 2% on the entire outstanding for the period of default. OD- Continuously irregular for a period beyond 60 days-2% on the entire outstanding.

Details of Security/ Collateral Obtained

i) Primary Security: Hypothecation of Plantation crops   raised/ to be raised on the land / Estate.

ii) Collateral: - Mortgage of orchard land.Or   Other commercial / residential properties to be obtained. In any case, the value of the collateral security should not be less than 125% of the loan amount.