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Medium Term / Long Term or Project Loans to Societies
- 1. Loans granted for a period exceeding twelve months, except in case of sugarcane crops are called Medium Term Loans.
- 2.The Bank will issue Medium Term Loans for the following agricultural purposes
a. For minor improvements of land such as reclamation, fencing etc.
b. For maintenance of sources of irrigation or minor repairs to wells or tanks or replacement or repairs of Agricultural Implements.
c. For purchase of live stock for Agricultural Purposes
d. For consumption of and improvement of farm houses or cattle sheds
e. For purchase of Elect. Pumpsets, oil Engines (including the cost of accessories) and pump house and for digging of wells without insisting upon any charge on the property subject to the conditions and limits as prescribed by NABARD.
f. For purchase of agricultural machineries such as power tillers, parts etc.
g. Wells &Tanks ,Borring
i. Wells with Pumping Sets
j. Agricultural implements such as Iron Plough , Seed-drill, Sprayers, dusters & other implements.
k. Transport, Equipments such as Bullocks, Carts, Trailers etc.
l. For Purchase of Milk Cattle (Cross Bread)
m. For Poultry Farming, Bee Keeping, Piggery
o. For any other purpose as decided by the Board from time to time.
- 3. M.T. Loan will be granted as per unit cost as decided by the Board from time to time. The Bank will sanction loan taking into consideration the realistic unit cost depending upon the local conditions and merits of each case.
Terms and conditions apply