Dairy loan for Purchase of One Cow

Beneficiary Provide Dairy loan for the purchase of One Cow to members of Cooperative Milk producers Societies.
Purpose  To increase the income of Milk producers by helping them to purchase high yielding milch cattles.
Loan Limit The bank shall Provide loan for one cow with ceiling of Rs. 50000- Or cost of the animal which ever is less.
Rate of Intt 10.25%
Margin The applicant shall contribute 10% of the total cost of animal as margin money. However margin money for scheduled caste , Backward Class and economically back wards members shall be 5%.
Repayment Period Maximum 5 years .
Collateral Security  Gurantee by two persons who should be nomial members of the bank. One of the the guarantors should be the owner of at least one acre of agriculture land and another guarantors should be a responsible person from local area to the satisfaction of the Branch Manager of the concerned CCB.   
Procedure After the execution of documents the Branch Manager shall disburse  the loan amount by crediting the SB account of the borrower.  
Insurance The live stock financed under the scheme shall be fully insured and it should be clearly mentioned in the insurance policy that the live stock is hypotheciated with the financing bank.  
Area of Operation Loan shall be advanced in the area operation in the Muktsar district.