Bank Of Maharashtra Horticulture Plantation Activities Loan

Purpose of Horticulture Plantation Activities Loan

Loan offer for cultivation of fruit crops-Mango, Pomegranate, Grapes, Guava etc

Eligibility for Horticulture Plantation Activities Loan

All persons engaged in raising fruit gardens, plantations and nursery crops as owners of land or permanent tenants or as lease holders (for reasonably long period)

Documents Required for Horticulture Plantation Activities Loan

1. Loan application ie Form No -138
2. Enclosure - B2
3. All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
4. No dues certificates of the applicant from surrounding financial institutions including PACS
5. Legal search from advocate on Bank's panel for loans above Rs.1.00 lakh where land is to be mortgaged
6. Price quotations/ Plan estimates / Permissions etc. depending up on the purpose of loan
7. Guarantee form F-138
8. All 7/12, 8 A & PACS dues certificate of the guarantors

Features and Benefits of Horticulture Plantation Activities Loan

Quick Processing

After you submit the loan application along with required documents, Bank Of Maharashtra 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

Bank Of Maharashtra offers Horticulture Plantation Activities 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 Horticulture Plantation Activities Loan

• Upto Rs.10.00 lakhs: 10.70%
• Above Rs.10.00 lakhs: 11.70%

Processing Fees of Horticulture Plantation Activities 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 Horticulture Plantation Activities 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 Horticulture Plantation Activities 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 Bank Of Maharashtra Horticulture Plantation Activities 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 Bank Of Maharashtra Horticulture Plantation Activities Loan?

There are following steps through which you can apply for Horticulture Plantation Activities Loan and avail it easily:

(1) Visiting nearest branch of Bank Of Maharashtra

You can search for and visit your nearest branch of Bank Of Maharashtra .

(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, Bank Of Maharashtra will verify your application.

(8) Approval of Loan

If all the things are found correct, your loan application will be approved by Bank Of Maharashtra 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.