Loan Against warehouse Receipt

Sr. No.	Particulars	Scheme Details
1	Eligibility	Person should be Indian resident.
2	Purpose of loan	For agriculture or agriculture allied activity.
–	Age limit	18 – 65 years, individual loan.
3	Maximum loan limit	65% of value of product mentioned on receipt, or latest market rate, whichever is less. The value of the product is as decided by Bank as per quality of the agriculture produce.
4	Margin	35%
5	Security	Pledge of Central / State / NBHC warehouse receipt, which will be discharged and lien noted in Bank's name.
6	Linking share	Regular share + linking share 2.5% of loan limit.
7	Guarantor	No guarantor required.
8	Repayment period	Due date of warehouse receipt or six-month period, which can be extended for a further 3 months in deserving cases at the discretion of Bank, whichever is earlier.
9	Moratorium period	Not applicable
10	Rate of interest	Base rate (9.25%) + 1.00% premium = 10.25%
11	Type of loan	Loan against warehouse receipt OR limit against NBHC receipts.
12	Insurance	Insurance at warehouse / godown to be ensured on receipt.
13	Processing fees	0.10% of loan amount
14	Prepayment charges	Not applicable
16	Other	KYC documents. 7/12, and agriculture related documents. The finance should be extended to existing customers who have maintained a bank account for the last 5 years. Administrative clearance from Head Office is to be taken to finance a new customer. L.C.M. is empowered to take the decision in this regard. The quality of agriculture produce and rates will be decided by Bank, and for any confusion on quality and rates, L.C.M. is empowered to take the decision.

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