Saptagiri Milk Vendors Loan Scheme-Secured Overdraft


Target Group
  • 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.
Purpose
  • 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.
Eligible Amount
  • 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.
Maximum Loan Amount
  • 3.00 lakhs
Age
  • 18-55 Years
Margin
  • 15% of average cost of milk procured by the milk vendor per month.
Rate of Interest
Please refer to Loan Interest Rates Page
Security
  • 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%.
Repayment Period
  • Interest to be serviced as and when debited and limit to be reviewed and renewed every year.
Guarantee
  • Third party guarantee from a solvent person
Processing Charges
  • 1% + GST
How to Apply
  • Please contact nearest Saptagiri Grameena Bank Branch for more details
Designed by Yaswanth Gupta Bondada & Raghav Vellore