Farm Credit – Renewable Energy
KVB –Farm credit – Renewable energy provides timely credit to farmers for purchase and installation of solar pumps/Solar lamps/Solar fencing etc… in the farm.
- Individual farmers, group of individuals, SHGs, JLG, owning a minimum of 2 acres of land with existing well are eligible to avail this loan
- Central and State government subsidies are eligible wherever applicable as per subsidy eligibility guidelines.
- The scheme will be supplementary in nature and all existing KCC Green card holders can also avail KVB – Farm credit – Renewable energy limit subject to fulfillment of all terms and conditions.
|Primary Security||Hypothecation of assets created out of bank finance|
|Collateral Security||100% Collateral (Agri /urban property/100% FD/Gold ornaments*) for the loans of above 1.60 lakhs.|
|Repayment Period/Tenor||60 to 84 months - EMI/NEMI excluding Holiday/Moratorium period|
|Holiday/ Moratorium Period||Maximum of 3 months|
|Limit||Minimum amount - Rs.1.00 lakh |
Maximum amount - Rs.100.00 Lakh
|Processing fee||1% (0.50% - If collateral given is 100% FD/Gold ornaments). |
Jewel appraiser charges will be same as gold loan if applicable
|Rate of Interest||1 Year MCLR +0.85|