Dairy Loan to Members of MPCS

Beneficiary Members of Coop. Milk Producers Societies.
Purpose Purchase of maximum 2 miltch cattle.
Loan Limit Maximum amount upto Rs. 1.00 lac.
Rate of Interest 10.25%
Margin 10%. & 15%
Repayment Period Maximum 5 years in equated monthly or quarterly installments with option of 3 months moratorium as per requirement.
Securities No Guarantee for loan upto Rs.50,000/- or for one animal. For loan more than Rs.50,000/- or more than one animal:- guarantee by one person who should be nominal member of the bank. The guarantor should be the owner of at least one acre of agricultural land or a govt./ semi govt/ board/ corporation/ cooperative employee having remaining service more than the tenure of loan.
Area of Operation Loan shall be advanced in the area operation in the Muktsar district.