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S.T. Crop Loan (KCC Loans)

S.T. Crop Loan (KCC Loans)

The Pondicherry State Co-op. Bank is providing Crop loans for Agricultural and its allied activities through affiliated PACS/FSCS.
For availing loans, the individuals should be enrolled as Members of the PACS/FSCS and they should submit the area of land and the crop to be cultivated by them which is called Annual Credit Limit (ACL). On the basis of the ACL, which has been prepared for a period of 3 years, they can avail loan.
The quantum of loan amount is Rs.1.00 lakh per farmer, on the basis of the individual surety. If the loan amount exceeds Rs.1.00 lakh and above, collateral security should be submitted to the Bank.
If the loan amount is Rs.3.00 lakh for cultivation of Sugar Loan, on the basis of the Certificate for plantation of Sugarcane issued by the concerned Sugar Mills and individual surety.
If the loan amount exceeds Rs.3.00 lakh and above, necessary collateral security should be submitted to the Bank and the same should be mortgaged in favour of the Bank.
Repayment of loan amount promptly within the due date, the farmers are eligible to avail Subsidy from the Government.
Farmers who have obtained KCC Member card issued by the Agriculture Department, are eligible to avail KCC Loan
For agriculture purpose, Agriculture Jewel Loan facility is also providing by the Bank at 7% per annum.
Famers who have availed Agriculture Jewel Loan, repaid the loan amount promptly within the due date are eligible to avail subsidy from the Government.
The farmers who have availed Crop loan for cultivation of Paddy, Sugarcane, Blackgram, Greengram, etc., crop insurance premium amount will be paid by the Agriculture Department for and on behalf of the Farmers.
Interest Subvention Subsidy is also eligible for the farmers those who have repaid the loan amount promptly within the due date
Personal Accident Insurance Scheme (PAIS) is also available for the Farmers who have availed crop loan.