| Beneficiary |
Any individual farmer holding the agricultural land. |
| Purpose |
Credit facility for meeting out socio-economic needs. |
| Loan LimitLoan Limit |
Maximum amount Rs.15.00 Lac. Subject to Rs.2 Lac per acre |
| Rate of Interest |
11.50% |
| Margin |
No Margin required. |
| Repayment Period |
Renewable on annual basis |
| Collateral Security |
Agriculture Land valuing at 75% as fixed by district administration or Rs 2.00 lac per acre (which ever is higher) shall be taken .The land should be free from all encumbrances . |
| Area of Operation |
Loan shall be advanced in the area operation in the Muktsar district. |
| Penal Rate |
3% above normal ROI |