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Overdraft Consumption

This overdraft facility is designed to meet the household consumption, other than farming and business requirement of the farmers and individuals. This facility has been designed for farmers who also have non- agricultural income avenues.

Product Features 

  • Farmer’s Age - 18-75 years (Co- borrower required for applicants over 60 years)
  • Loan Tenure- 1 year
  • Eligibility- Minimum land holding: 0.5 Acre
  • Non- Agricultural property is mandatory
  • Minimum loan amount: Rs. 1,00,001 /-
  • Repayment period- Monthly

Other important details

Lending Rates

Loans linked to REPO Rate

  • Rate of interest will be linked to Prevailing Repo Rate.
  • Customer rate/ pricing (ROI) shall be repo rate + spread.
  • Repo rate reset frequency- every 25th day of last month of each quarter.
  • The bank will publish the Repo Rate periodically on the bank’s website.

Loans on base rate/ MCLR/ fixed rate

  • Existing loan on base rate/ MCLR/ fixed rate will continue to be at existing benchmark till renewal.

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