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- Dairy Power
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Dairy Power Loan
This product variant is for extending credit facilities to animal husbandry farmers associated with any dairy unit with a vintage of two years or more. The assessment will be based on cash flow of the farmer from dairy activity.
Features & Benefits
Type of Loan
- Overdraft – For meeting working capital requirements
- Term Loan – For Dairy activity
Age Criteria
18- 75 years (Co-borrower is needed if age > 60 years)
Eligibility
- Two years of association with Dairy Unit/Milk society/Milk Union to be ensured through monthly supply of milk.
Type of Loan
- Overdraft – For meeting working capital requirements
- Term Loan – For Dairy activity
Loan amount
- Minimum loan limit: ₹25,001
- Maximum loan limit: ₹5,00,000*
- Can be extended up to ₹10,00,000/- under CGFMU credit guarantee
Eligibility
- Two years of association with Dairy Unit/Milk society/Milk Union to be ensured through monthly supply of milk.
Other Important Details
Lending rates
- Rate of interest will be linked to prevailing repo rate.
- Customer rate/pricing (ROI) shall be repo rate + spread.
- Repo rate reset frequency- every 25th day of last month of each quarter.
- The bank will publish the Repo Rate periodically on the bank's website.
Lending rates
- Existing Loan on Base Rate/ MCLR/ Fixed rate will continue to be at existing benchmark till renewal.
- For fair practices code followed by the bank please click here
- For brief details on all our products please click here
Important Links
Understand the rate of interest disbursed on funding by clicking these links. You can also view rural lending- agri business centres here.
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