Agri Direct Finance CASA (OCC & SOD)
Agri Direct Finance CASA is a fund-based (working capital) limit to meet the working capital expenses of farm/unit of firms/entities/companies etc.
Features & benefits
- Covers poultry and other allied activities.
- Covers units engaged in processing/cleaning/sorting of pulses, rice millers and loans categorized under Food and Agro-processing as per RBI Master Directions.
- Linked to NABARD cost/SLBC/DLTC scale of finance for agri allied activities and to lending methods based on exposure (including GST sales for last 12 months).
- Monthly interest application; interest should be serviced whenever applied.
Eligibility and Charges
| Limit Validity | Valid for 12 months, subject to annual renewal. |
| Margin | 25% (OCC) 33% (SOD) |
| Processing Fees | If sanctioned limit < Rs. 5.00 Crs then PF is 0.60% + GST. If sanctioned limit > Rs. 5.00 Crs then PF is 0.50% + GST on the sanctioned limit. |
| Repayment | Interest application will be monthly and interest should be serviced whenever it is applied. |
| Eligibility | Proprietorship concern / Individual / HUF having Business Registration, Partnership firm, LLP, Private/Public limited Companies, Societies/Association & Trusts. |
| Security Coverage | SOD – > 150% of sanctioned limit OCC – > 100% of sanctioned limit. |
Interest Rate
| Sanctioned limit (Rs. in lakhs) | *Interest Slabs (%) |
|---|---|
| Up to 3 lakhs | 1 Yr MCLR + 0.35% |
| > 3 lakhs - 10 lakhs | 1 Yr MCLR + 1.00% |
| > 10 lakhs – 25 lakhs | 1 Yr MCLR + 0.85% |
| > 25 lakhs | 1 Yr MCLR |
*Rate of Interest will be changed from time to time as per bank's policy.
