Target Group
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- Milk Vendors who are collecting milk either from retail or wholesale, supplying to various chilling plants.
- Preference will be given to vendors who are having tie-up with reputed Dairy units / Hotel/ Sweet stalls etc.
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Purpose
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- To meet the credit requirements for purchases and maintaining milch animals owned by him/other farmers who supply milk to the vendors (borrowers) or group of dairy farmers.
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Eligible Amount
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- 25 times of the average cost of milk procured by the milk vendor per day. The turnover of the Milk Vendor should be 4 to 5 times of the limit.
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Maximum Loan Amount
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Age
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Margin
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- 15% of average cost of milk procured by the milk vendor per month.
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Rate of Interest
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Please refer to Loan Interest Rates Page
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Security
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- Hypothecation of Milching animals
- Borrower should own two milch cattle, preferably cross breed animals
- Mortgage of landed property/ house site when the loan amount exceeds 1.60 lakh. This includes existing KCC/ ATL/ AATL loans.
- The security coverage to loan should be 200%.
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Repayment Period
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- Interest to be serviced as and when debited and limit to be reviewed and renewed every year.
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Guarantee
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- Third party guarantee from a solvent person
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Processing Charges
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How to Apply
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- Please contact nearest Saptagiri Grameena Bank Branch for more details
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