Majority of the members in the jurisdiction as businessmen and small scale traders. Bank has only few agriculturists as it members. There for the agricultural loan is the marginal. Banks also provided short term medium term loan to the members.
1, Kissan credit cards scheme
Bank issue the kissan credit cards, to farmer who are eligible for sanction of production credit of Rs.5000/- and above.
It aim at adequate and timely support from banking system to the farmers for there cultivation needs including purchase of inputs in a flexible and cost effective members for fixing the limit the bank take into account the entire production need in relation to scale of finance it is a revolving cash credit accommodation and the holder can withdraw an reply money at his convenience. The rate of interest is 3.5%
2,SHORT TERM LOANS
The period of short term loans is 15 month
This loan is allowed to :
NAST and NASTESE loans are come under this short term loans. Non agricultural short term loans (NAST) hare 12% of interest rates. Non agriculture short term self employment (NASTSE) loans are issued to “AYALKOOTTAM” groups (Group of house hold women) for Self employment. Its interest rate is only 10% maximum amount is 10,000/- rupees. Then loans are issued under the security of a personal.
The period of medium term loans are 5 years maximum amount issued as medium term loans is three lakh. Medium term loans is in two types. (a). mortgage loans and (b).NAMT loans.
a) Mortgage loans
This loan is allowed to under the security of immovable properties of land.
b) NAMT loans
Non agricultural medium term loans are issued to employee on the security of salary certificates. Now this loan is not issued because most of the employee do not refunded the loan amount and they leave the jurisdiction of the bank through transfers.
4. CASH CREDIT SYSTEM
In crop loan system the farmers are permitted to avail fresh loan only after repaying the first loan. But it is possible only to farmers resorting to a particular variety of crop assistance to cultivate the second crop may arix.
For cultivator of Coconut, Rubber and the like, which may ensure periodical returns, cash credit facilities shall be provide in which the farmers my be entitled to draw money and reply at their convenience when it is needed. A security furnished under contouring guarantee may facilitate continues operation on the account enabling availability of credit at his demand. The operation is used to be reviewed by the managing committee an defaulters will be deprived of the facility. The credit or debit on their account is expected to be equal for credit balance, 1%above the saving bank account interest rate (5%)is offered.
Our gold loan scheme offer funds for nominal interest to agriculturists. For a spar of 3 months, 6 months and 1 year.
Interest rate of gold loans
|Rate of 1 gram gold||Period||Interest Rate|
|Rs. 2150||6 months||9.75%|
|Rs.2150 for agriculturists||6 Months||7%|
|Rs.2050 for Agriculture and allied activities||12 Months||8.75%|
This agriculture loan is allowed up to 1 lakh and other loans to are 5 lakh maximum.
Advancing loans for construction of new houses, purchase of new house and repair or renovation of exiting houses. The loan limit is for 3 lakh and the time limit is 10 year.
This loan is accessible to members and non members. Loans are sanctioned up to 90% there deposit amount while pledge going the deposit receipt. The interest of deposit loan is 2% more than the deposit interest.
Bank permit over drafts to their customers on current accounts. Customers are allowed to withdraw more than the balance available in their account in advance. It is allowed only on the previous arrangement with the banker.
|Ordinary Loan||2125/gm||10%||3 months|
|Ordinary Loan||1875/gm||9%||12 month|
|2||Dairy Development Loan||20000||7%||1 year||Purchase of Cow only|
|3||Deposit Loan||90% of Deposit||Deposit int rate + 2%||Due date of Deposit||Fixed /Swayam vardhini/ reccuring deposits only|
|House Loan to staff||4 Lakhs||7.75%||15 years||Purpose of House construction|
|5||Kissan Credit Card (KCC)|
|Ordinary Loan||50000||7%||1 year||Agricultur purpose|
|Kissan sree(Interest free Loan)||upto 50000||nil||6 months||Agricultur purpose|
|Ordinary Loan||upto 5 Lakhs||14%||5 year||House repair, Domestic purpose|
|7||NAST Loans (Non Agri: Short Term Loans)|
|Ordinary Loan||upto 20000||13%||3 year||Business and House Repair|
|8||Over Draft Loan|
|Ordinary Loan||upto 5 Lakhs||14%||No duration||On the basis of Document/ FD receipt|
|Staff Loan||upto 50000||6%||No duration||on the basis of Salary|