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Overdraft Consumption
Overdraft Consumption
This overdraft facility is designed to meet the household consumption, other than farming and business requirement of the farmers and individuals. This facility has been designed for farmers who also have non- agricultural income avenues.
Product Features
Age
Farmer’s Age - 18-75 years (Co- borrower required for applicants over 60 years)
Tenure
Loan Tenure- 1 year
Eligibility
Eligibility- Minimum land holding: 0.5 Acre
Non- Agricultural
Non- Agricultural property is mandatory
Loan Amount
Minimum loan amount: ₹1,00,001 /-
Repayment Period
Repayment period- Monthly
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
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