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Dairy Loans
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FAQs >>Loans
>> Dairy Loans
Description
FAQs on Mini Dairy Loan
1. Who can apply for this loan?
Any individual who is member of PACS (primarily agriculture cooperative society) can apply for this loan to purchase 2 to 10 animals.
2. What would be minimum or maximum age for getting this loan?
Age should be 21years minimum.
3. How much loan I can get?
Maximum 5.00 Lacs loan can be financed subject to 0.50 Lacs for each animal.
4. Where can I utilize this loan amount?
For purchase of 2 to 10 milch animals
5. In how much time I can repay this loan?
The Loan can be repaid within 60 Months.
6. Can I prepay this loan?
Yes, loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
10.25% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
No processing fee is charged on this loan.
9. What would be the documents required for this loan?
Residential proof, Proof of member of PACS, Proof of ownership of property, Non-Encumbrance certificate of property which will be mortgaged to the bank,
10. Will there be any Collateral Security Required?
Yes, collateral security is required i.e. mortgage of property in favour of Bank besides the hypothecation of the animals purchased through Bank finance and 2 Guarantors are required to stand as Surety for repayment of this loan
Description
FAQs on Commercial Dairy Loan
1. Who can apply for this loan?
Any individual, Partnership Firm, Corporate Bodies, or any Cooperative organization can apply for this loan
2. What would be minimum or maximum age for getting this loan?
Age should be 21 years minimum.
3. How much loan I can get?
Maximum 50.00 Lacs loan can be financed subject to 0.50 Lacs for each animal.
4. Where can I utilize this loan amount?
For purchase of minimum 10 to 100 milch animals or to construction of cattle Shed, or for purchase of dairy equipment's.
5. In how much time I can repay this loan?
The Loan can be repaid within 9 years with 2 Years moratorium period, However Interest accrued during moratorium period must have taken monthly.
6. Can I prepay this loan?
Yes, loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
10.25% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
No processing fee is charged on this loan.
9. What would be the documents required for this loan?
Residential proof, Proof of ownership of property, Non-Encumbrance certificate of property which will be mortgaged to the bank, Project Report, Proof Of place where cattle is to be placed, Estimate of shed (applicable if loan is required for construction of shed),proof of ownership of shed, Non encumbrance of property where shed is to be constructed,
10. Will there be any Collateral Security Required?
Yes, collateral security is required i.e. mortgage of property in favour of Bank besides the hypothecation of the animals purchased through Bank finance and 2 Guarantors are required to stand as Surety for repayment of this loan.
FAQs on Mini Dairy Loan
1. Who can apply for this loan?
Any individual who is member of PACS (primarily agriculture cooperative society) can apply for this loan to purchase 2 to 10 animals.
2. What would be minimum or maximum age for getting this loan?
Age should be 21years minimum.
3. How much loan I can get?
Maximum 5.00 Lacs loan can be financed subject to 0.50 Lacs for each animal.
4. Where can I utilize this loan amount?
For purchase of 2 to 10 milch animals
5. In how much time I can repay this loan?
The Loan can be repaid within 60 Months.
6. Can I prepay this loan?
Yes, loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
10.25% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
No processing fee is charged on this loan.
9. What would be the documents required for this loan?
Residential proof, Proof of member of PACS, Proof of ownership of property, Non-Encumbrance certificate of property which will be mortgaged to the bank,
10. Will there be any Collateral Security Required?
Yes, collateral security is required i.e. mortgage of property in favour of Bank besides the hypothecation of the animals purchased through Bank finance and 2 Guarantors are required to stand as Surety for repayment of this loan
FAQs on Commercial Dairy Loan
1. Who can apply for this loan?
Any individual, Partnership Firm, Corporate Bodies, or any Cooperative organization can apply for this loan
2. What would be minimum or maximum age for getting this loan?
Age should be 21 years minimum.
3. How much loan I can get?
Maximum 50.00 Lacs loan can be financed subject to 0.50 Lacs for each animal.
4. Where can I utilize this loan amount?
For purchase of minimum 10 to 100 milch animals or to construction of cattle Shed, or for purchase of dairy equipment's.
5. In how much time I can repay this loan?
The Loan can be repaid within 9 years with 2 Years moratorium period, However Interest accrued during moratorium period must have taken monthly.
6. Can I prepay this loan?
Yes, loan can be prepaid without any prepayment charges.
7. What would be the Rate of Interest for this loan?
10.25% p.a. or as contracted at the time of advancement on reducing balance.
8. Will there be any Charges?
No processing fee is charged on this loan.
9. What would be the documents required for this loan?
Residential proof, Proof of ownership of property, Non-Encumbrance certificate of property which will be mortgaged to the bank, Project Report, Proof Of place where cattle is to be placed, Estimate of shed (applicable if loan is required for construction of shed),proof of ownership of shed, Non encumbrance of property where shed is to be constructed,
10. Will there be any Collateral Security Required?
Yes, collateral security is required i.e. mortgage of property in favour of Bank besides the hypothecation of the animals purchased through Bank finance and 2 Guarantors are required to stand as Surety for repayment of this loan.
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