Purchase of Estates/Orchards Growing Traditional Plantation Crops

Benefits
Features
Eligibility Criteria
Document Required
Fees & Charges
Most Important Terms & Conditions (MITC)

Purchase of Estates/Orchards Growing Traditional Plantation Crops : Benefits

Processing charges Nil for Aggregate Loan upto Rs 3.00 Lakhs
Inspection charges Nil for Aggregate Loan upto Rs 3.00 Lakh
No penal Interest shall be charged for loan up to Rs 25000/-
Long Repayment period of 7 Years

Purchase of Estates/Orchards Growing Traditional Plantation Crops : Features

For purchase of estates growing traditional plantation crops viz. coffee, tea, rubber, cardamom, cashew, pepper, coconut and other perennial orchard crops.

Purchase of Estates/Orchards Growing Traditional Plantation Crops : Eligibility Criteria

The borrower should be engaged in agriculture activity as the owner of agriculture land, tenant farmers, oral leases, etc.
The borrower should preferably have yielding estates and should be in a position to rejuvenate the state proposed to be purchased.
The intending borrower should qualify the respective State Government norms of being agriculturist/satisfy the income criteria stipulated by the State Government.

Purchase of Estates/Orchards Growing Traditional Plantation Crops : Document Required

KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
Passport Size photo
Quotation/Invoice (if available)
Land Records
Project Report (if available)
IT Return wherever applicable

Purchase of Estates/Orchards Growing Traditional Plantation Crops : Fees & Charges

No penal Interest shall be charged for loan up to Rs 25000
Processing charges:
1. Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil
For Term Loan
1. Above Rs 3 Lakhs - 1 % of the limit sanctioned with a maximum of Rs 100 lacs.
Inspection Charges:
1. Agriculture exposure upto Rs. 3.00 Lakhs- Nil
2. Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
3. Above Rs 10 Lakhs to Rs 1 Crore - Rs 1000
Above Rs 1 Crore - Rs 5000

Purchase of Estates/Orchards Growing Traditional Plantation Crops : Most Important Terms & Conditions (MITC)

Valuation of estate

Value of estate shall be based on the lowest of (i) Market Value (II) Guidance value / circle rate fixed by the State (iii) Purchase consideration of the estate or (iv) Average price of sale transaction registered during last 5 years in the area

Security

Mortgage of the property to be purchased & hypothecation of plantation crops raised on the land / Estate. Collateral security in the shape of mortgage of the landed Properties preferably residential property is required.

Repayment Period

The loan should normally be repayable maximum within 7 years excluding moratorium period

Moratorium Period

Maximum upto 5 years depending upon the future cash generation from the project

Rate of Interest

For CC/OD & DL of Loan period less than -3- years
CR 1	One Year MCLR+ SP+1.50%
CR 2	One Year MCLR+ SP+1.75%
CR 3	One Year MCLR+ SP+2.00%
CR 4	One Year MCLR+ SP+2.50%
CR 5	One Year MCLR+ SP+2.75%
CR 6,7,8,9 & 10	One Year MCLR+ SP+3.25%
For TL having Loan period -3- years and above
CR1 to CR10	Interest rate ranges from One Year MCLR+ SP+1.60% to One Year MCLR+ SP +3.35%