Andhra Bank
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AB Kisan Vivek (Scheme for Agril. Graduates)
 
 Eligibility

Trained Agricultural graduates and Postgraduates by MANAGE (National Institue of Agricultural Extension Mangement) will be considered under the scheme. The trained graduates could also undertake group projects of the group consists of five more persons, all except one of them would have tobe Agricultural Graduate, trained under the scheme and the remaining persons could be non agril. graduate wilh experience in business development and management.

Graduates in Agriculture and Allied Subjects from State Agriculture Universities (SAUS) / Central Agricultural Universities / Universities recognized by ICAR / UGC

Diploma in Agriculture and Allied subjects from State Agricultural Universities

Science Graduates with Post Graduation in Agriculture and Allied Subjects

 Linkage with Credit :
Assistance under scheme would be purely credit linked subject to sanction of the project by the bank branch based on economic viability and commercial consideration.
  LOCATION :  
The units are to be established in the Village / Mandal / Block Headquarterswhere good potentiality is existing for the services.
 Amount of Loan:
Under the scheme a maximum amount of Rs.20.00 lakh will be financed to the individuals (25.00 lakh in case of extremely successful candidate). In case of group loans, the amount of loan can go up to Rs.100.00 lakhs (minimum 5 individuals).
 Subsidy :

1. Composite Subsidy- backended 36% of the Project Cost

SC,ST,Women -44%

Lock in period 03 years

 Margin:

Up to Rs.5.00 lacs - No Margin

> Rs.5.00 lacs - 15 %

  • In respect of SC/ST, Women borrowers, 50% of Margin money of 15% - Soft loan will be given by NABARD without interest.
 Repayment schedule:
The repayment period will depend on nature of activity and vary between five to ten years. The maximum gestation period is 2 years depending upon the nature of the project.
 Security:
a. Primary security of all the equipment financed.
b. Collateral security:

Loans up to
Rs.5.00 lakhs -
No collateral security
 Loans above Rs. 5.00 lakhs Collateral security value of minimum 75 % of the loan amount in the form of mortgage of land/charge creation under state laws.
 Insurance:
All the machinery and equipment financed will be insured against all the possible risks.
 
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