15. Debt Swap Scheme

Loan Amount : Rs.1,00,000/-, the borrower should have both the option to avail it as a term loan or overdraft limit

Loan Term: Overdraft will be by way of running credit facility and Withdrawable/ Repayable as per the emergent requirement of the farmer. Term loan will be payable in yearly/half yearly installments in 3 to 5 years  commensurating with the harvesting of crop with moratorium of one crop season.

Interest Chargeable: 1.85% above Base Rate i.e.11.50% p.a. and for OD: 1.75% +BR i.e. 11.40% p.a. 

Fee Payable during the term of the loan

1. On term Loan

a)  Inspection Charges
i))  Upto Rs.25000/-  Nil
ii)  > Rs. 25,000/- & upto Rs. 1 lacs: Rs.500/- p.a  
                                                                                                           
b) Upfront Fee-Nil

2. On CC / OD

a)  Processing Charges - Nil

b)  Inspection charges
a)  Upto Rs.25000/-  Nil
b)  > Rs. 25,000/- & upto Rs. 1 lacs: Rs.500/- p.a.  

Penalty for delayed payments:

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.
     
EMI payable: Overdraft will be by way of running credit facility and Withdrawable/ Repayable as per the emergent requirement of the farmer. Term loan will be payable in yearly/half yearly installments in 3 to 5 years  commensurating with the harvesting of crop with moratorium of one crop season.

Details of Security/ Collateral Obtained

Collateral security under this scheme be waived upto Rs. 1.00 lacs.

Where total exposure to a borrower including Debt Swap limit exceeds Rs. 1.00 lac, collateral security by way of fresh/ supplementary registered mortgage of agri. land be obtained.