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Cent Dairy Scheme

Purpose

To provide finance for establishment of dairy units for milk production.

Eligibility

Individuals, farmers, groups of farmers, firms, companies, societies, NGOs etc.

Quantum of loan

Unit cost excluding Margin Money.
Based on viability of the project and repaying capacity of the borrower(s).

Margin

For loans up to Rs1lakh : Nil
For loans above Rs1lakh and up to Rs 5 lakh : 10%
For loans above Rs 5 lakh and uptoRs10 lakh : 15%
For loans above Rs10 lakh : 20%

Rate of Interest

*As per prevailing rate

Processing Charges

Up to Rs 3 Lakh/- : NIL

*Above Rs 3 Lakh/- : @ 0.30%

Security

Primary :  Hypothecation of Livestock and other assets Created out of Bank finance.

Collateral: (Aggregating all Agricultural loans) For Loans up to 2 Lac: - Nil

For Loans above 2 Lac: - Creation of Mortgage/Charge on land having Market value at least to the extent of 100% of loan amount.

Repayment

Repayment period will depend on the cash flow and will vary between 3-7 years