Indian Bank offer Agricultural Jewel Loan for the farmers in india to meet the short term credit requirements for purchase of inputs like fertilizers, pesticides, seeds etc for carrying out e seasonal agri operations.
Eligibility: All farmers
Quantum of Loan:
- Crop Loan: 60% of the value of the estimated produce or Rs.20,000/- per acre whichever is lower.
- Term Loan: Maximum or Rs.15,000/- per acre. Ceiling of Rs.1 lakh per acre for taking up various developmental activities like deepening of well etc.
- Based on the scale of finance fixed for individual crops subject to the maximum advance value based on the net weight of jewel ornament which is now pegged at Rs.750 per gram or 70% of market value of the jewels to be pledged whichever is lower.
Repayment Period:
- Loan amount to be adjusted within 2 months from the date of harvest of the crop.
Security:
- Pledging of jewels.
