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SCHEME FOR FINANCING COMBINE HARVESTERS

1. ELIGIBILITY
  1. In case of farmers: Farmer or a group of farmers holding land jointly, should have an owned (singly/ jointly) land holding of minimum 2.5 acres (minimum 5 acres in case of Group of farmers) of perennially irrigated land or corresponding acreage as prescribed for different categories of land under the State Land Ceiling Act.
  2. In case of persons other than farmers: Intending borrowers should be technically qualified having adequate know-how, skill and managerial ability to run custom service units.
  3. In case of State Agriculture Farms/ Corporations: State Agriculture Farms/ Corporations engaged in land development activities should have adequate resources and comma
2. PURPOSE For financing purchase of combine harvester to persons/ group of farmers/ individual farmers desirous of setting up of custom service units or for custom hiring, State Agriculture Farms having larger area and intending to use the combines in their farm area apart from such corporations which are engaged in land development activities.
3. EXTENT OF LIMIT Need based
4. MARGIN
  1. Upto Rs.2 lakh – Nil
  2. Above Rs.2 lakh – As per Bank’s extant guidelines
5. SECURITY
  • Primary – Hypothecation of asset created out of Bank loan.
  • Collateral – As per Bank’s extant guidelines.
  • CGTMSE facility available as per Bank’s extant guidelines.
6. RATE OF INTEREST* Net Interest Rate of 6% (if covered under AIF Scheme)

*Subject to change from time to time

For more information or any query related to the scheme, kindly visit your nearest PGB branch.