Farm Credit – Renewable Energy
KVB –Farm credit – Renewable energy provides timely credit to farmers for purchase and installation of solar pumps/Solar lamps/Solar fencing etc… in the farm.
- Individual farmers, group of individuals, SHGs, JLG, owning a minimum of 2 acres of land with existing well are eligible to avail this loan
- Central and State government subsidies are eligible wherever applicable as per subsidy eligibility guidelines.
- The scheme will be supplementary in nature and all existing KCC Green card holders can also avail KVB – Farm credit – Renewable energy limit subject to fulfillment of all terms and conditions.
Primary Security | Hypothecation of assets created out of bank finance |
Collateral Security | 100% Collateral (Agri /urban property/100% FD/Gold ornaments*) for the loans of above 1.60 lakhs. |
Repayment Period/Tenor | 60 to 84 months - EMI/NEMI excluding Holiday/Moratorium period |
Holiday/ Moratorium Period | Maximum of 3 months |
Limit | Minimum amount - Rs.1.00 lakh Maximum amount - Rs.100.00 Lakh |
Processing fee | 1% (0.50% - If collateral given is 100% FD/Gold ornaments). Jewel appraiser charges will be same as gold loan if applicable |
Rate of Interest | 1 Year MCLR +0.85 |