J&K Grameen Bank Dairy Loan Scheme Check Eligibility

Objective:

» Enhance production and marketing of clean milk.
» Capacity building of farmers for undertaking dairy farming as commercial activity.
» Increase income of dairy farmers through value addition.
» Promoting use of appropriate scientific technology in dairy farming.
» Provision for infrastructure like animal shed, bulk coolers, etc.
» Promotion of dairy farming on a more commercial scale by up-scaling the number of commercial farms.
» Increasing the average cattle farm size with the farmers so as to reduce cost on material inputs.
» Encouraging good functional SHGs to take up dairy farming activity.
» Increase employment opportunities for the rural unemployed youth.

Eligibility

» Individuals living within the operational area of the branch. Preference be given to the Women beneficiaries & the ex-servicemen drawing pension through our Bank;
» The Farmers, Self Help Groups, Joint Farmers Groups are eligible to avail loan under the Scheme; &
» The identified beneficiaries should have necessary skill/ training to manage the dairy unit.

Age Criteria

Minimum: 18 years at the time of loan application; &
Maximum: 70 years at the time of loan maturity.

Unit Size

Minimum Two to Maximum Ten milch animals.

Margin

For Loans upto Rs.4.00 lakh:   10%
For Loans above Rs.4.00 lakh:   20%

Security:

For loans up to Rs.3.00 lakh
Primary: Hypothecation of animals to be purchased and misc. fixed assets.
Collateral:
1. Two third party guarantees of sufficient net means acceptable to the bank.
2. Negative Lien of immovable property (including the shed to be constructed with land underneath) not less than the loan amount

For loans above Rs.3.00 lakh
Primary: Hypothecation of animals to be purchased and misc. fixed assets.
Collateral:
1. Guarantee of two persons having sound financial net means, good for loan amount and acceptable to the bank.
2. Mortgage of immovable property (including the shed to be constructed with land underneath) not less than the loan amount.

Repayment Period

The repayment period has been fixed as 6 years. The loan will be recovered in 69 equal monthly installments starting after initial gestation period of three months from the purchase of 1st lot of animals.

Processing Charges : 0.25% of the Loan Amount * Conditions Apply

Gestation Period – 3 months