Objective: To meet financial needs of commission agents/ Arthias dealing in crops, vegetables, fruits etc.
Nature of Facility: C.C./ O.D against book debts/ receivables not older than 6 months and pertaining to the current crop.
Period of Loan: To be liquidated twice in a year or within one month of harvesting of the crop (Rabi/ Kharif).
Quantum of loan: Eight times the net brokerage (after taxes) of previous year.
DP subject to 60% of book debts not older than 6 month.
Security required: Primary- Hyp. of book debts.
Adequate tangible collateral security having value atleast 1.5 times the amount of loan sanctioned.
Rate of interest: Upto 25 Lacs – 11.15% p.a
Above 25 Lacs 11.00 % p.a.