Vengara Service Co-operative Bank

KCC Loan

Title

Norms

Purpose

Agricultural.

Eligibility

For land owned and tenant farmers who have AClass Membership in the Bank.

Limit of Loan

Small Scale Farmers : Rs. 3,00,000
Large Scale Farmers : Rs.10,00,000

Security

Personal Surety : Maximum Rs. 50,000

Employee Surety : Maximum Rs. 1,00,000

Property : Maximum Rs. 10,00,000

Repayment Period

Maximum -12 months

Repayment Mode

Within One Year

Rate of Interest

Upto 3 Lakhs Rate 7% (Subsidy and subvention by Govt for prompt repayment 3% Net 4%)

Above 3 Lakhs: 7%

Penal Interest: 2% extra for default amount

Documents Required

Original Tax Receipt.

Authorization letter of Agricultural Officer