Andhra Pradesh Grameena Vikas Bank Palamitra Dairy Vikas Scheme Loan
Purpose of Palamitra Dairy Vikas Scheme Loan
To provide financial assistance to small and marginal and tenant Farmers with focus on women folk under group approach, to improve rural economy through employment opportunity and o increase milk production through organized sector.
Eligibility for Palamitra Dairy Vikas Scheme Loan
- Small homogenous groups consisting of 5-15 members of small, marginal and tenant farmers formed with rural women afresh as PALAMITRA DAIRY VIKAS SCHEME GROUP
- Existing SHGs with good track record
- Group with a minimum thrift of Rs 100 per month per member
- In a village where milk collection centre and Veterinary extension service within radius of 5 KM is available
- The Group should own 2-5 acres land and willing to raise green fodder on collective basis
- Quality of Animals: Only Graded Buffaloes are to be purchased preferably with one calving. A Unit of 3 graded murrah buffaloes with cost range of Rs 14400 to Rs 19200 for each animal with milk yield of 6 to 8 Liters per day to be given
- Tie up arrangement: The Group shall enter in to tie up with milk processing Unit
Documents Required for Palamitra Dairy Vikas Scheme Loan
- Application form and bank's appraisal
- KYC of Borrower
- Micro Credit Plan prepared by the Group
- Appraisal format for PMDVS group financing
- Inter-se agreement
- Articles of agreement
- Arrangement letter
- Undertaking letter of the Group
- Undertaking letter of the Company
Features and Benefits of Palamitra Dairy Vikas Scheme Loan
Quick Processing
After you submit the loan application along with required documents, Andhra Pradesh Grameena Vikas Bank will verify your application. If all the things are found correct, your loan application will be approved by the bank and you will be informed about the same. The loan amount will be released soon after the approval.
Minimal Documentation
For applying for agriculture loan, applicants are required to submit very limited documentation such as an identity proof, address proof, photograph, land ownership proof, etc. These documents are very easily available with the applicants. They need to enclosed the same with the loan application form.
Attractive Interest Rate
Andhra Pradesh Grameena Vikas Bank offers Palamitra Dairy Vikas Scheme Loan at very attractive and competitive interest rate starting from 8.80% p.a. Being the interest rate on lower side, the overall cost of your loan will also be lower.
Interest Rate for Palamitra Dairy Vikas Scheme Loan
12% to 12.75%
Disclaimer: Agriculture Loan interest rates keep on changing. You are advised to check the interest rates with banks before making any decision. Source: Bank Websites
Processing Fees of Palamitra Dairy Vikas Scheme Loan
Processing fee is a one-time charge to be paid by the borrower to the bank. It is charged to cover the costs incurred by the lender to process the loan. As it is not deductible from the loan amount, borrower is required to pay it separately while finally applying for loan. You need to contact the nearest branch to know latest processing fee.
Other Fees & Charges for Palamitra Dairy Vikas Scheme Loan
- Outstation Cheque Charges: N.A.
- Late Payment Penalty: 2% per month on overdue amount
- Charges on Part Disbursement: Nil
- EMI Cycle Change Charges: Rs 500
- Cheque Swapping Charges: Rs 500
- Legal, valuation and vetting charges: At actuals
- Stamp Duty and other statutory charges: At actuals as per applicable laws of the State
Repayment Tenure of Palamitra Dairy Vikas Scheme Loan
The repayment tenure differs from lender to lender. In case of cash credit, it is usually less than 1 year and for long term loans, it varies from 3 to 9 years. There are various flexible loan repayment options available to repay the loan such as monthly, half yearly and yearly instalments, you can select any of them based on your income and repayment capacity.
Why Select Andhra Pradesh Grameena Vikas Bank Palamitra Dairy Vikas Scheme Loan?
- Dedicated customer support & service
- Wide network of branches across India
- Multiple loan repayment options
- Attractive & competitive interest rates
- Project assessment capability is available
How to Apply for Andhra Pradesh Grameena Vikas Bank Palamitra Dairy Vikas Scheme Loan?
There are following steps through which you can apply for Palamitra Dairy Vikas Scheme Loan and avail it easily:
(1) Visiting nearest branch of Andhra Pradesh Grameena Vikas Bank
You can search for and visit your nearest branch of Andhra Pradesh Grameena Vikas Bank .
(2) Meet the Authorised Official
Meet the official authorised for handling agriculture loan related matters in order to get the advice on your eligibility, documents required, interest rate and can take their help in the loan application process.
(3) Obtain Loan Application Form
Obtain the loan application form from the branch.
(4) Fill up Loan Application Form
Fill up the form properly. Mention the details required in the form. Fill up the form in "Capital Letters". In case of any query in filling up the form, discuss with the official.
(5) Attach Required Documents
Attach a copy of the required documents such as Valid Identity Proof, Valid Address Proof, Land ownership/cultivation proof, etc. with the loan application form.
(6) Submit Loan Application Form along with Required Documents
Submit the loan application form along with required documents to the branch and ask for its acknowledgement.
(7) Processing of Loan Application
After you submit the loan application along with required documents, Andhra Pradesh Grameena Vikas Bank will verify your application.
(8) Approval of Loan
If all the things are found correct, your loan application will be approved by Andhra Pradesh Grameena Vikas Bank and you will be informed about the same.
(9) Disbursement of Loan
The loan amount will be credited to your bank account soon after the approval.