We are the top Bank Finance company in haryana, Helps you to understand the process. Banking is the very first step to start any Project. The Company has tie-up with Leading PSU Banks like SBI, PNB, Indian Bank, UBI, HDFC, CBOI, BOB etc to get best Finance Deals suitable to our clients for putting Poly House and Net House Projects.
The Funds are arranged by Company from these Banks with the help of its own in house team lead by Chartered Accountant.,
Cultivation under Polyhouse/Greenhouse/Shade Nets or any kind of protected structures is gaining popularity these days because of its benefits that provide scope for off-season production, better prices, reduced pests & diseases incidences and higher yield.
But one factor that comes into the picture of the fact that restricts farmers or any interested individual is the required upfront fixed capital investment for installing the structure.
Apart from the subsidies provided by the government (varying between 50 to 85% in most of States), there is huge amount left to be invested. Banks extend a helping hand in the form of financial assistance for the solution to the problem.
How to Apply For Loan?
To apply for loan, one needs to prepare a Detailed Project Report (DPR) to be presented to the loan officer that will include information of the applicant, need of protected structure, technical analysis, economical analysis, Legal Report of land, Land Valuation & blueprint of the structure, estimate of plants & irrigation, soil & water analysis report and applicant’s letter.
This will further help in applying for subsidy. The Other documents required are KYC Documents like Photo, Pan Card, Aadhar card, Ration Card, Bank Statement and Land documents like Jamabandi/Fard, Girdawari, land Map/Shijra Map, Non encumbrance Certificate etc.
The most important thing in getting a Bank Loan depends on the Credit History of the Person which is checked in reference to Credit Agencies Scores like CIBIL, Experian etc. The other important things are Value of the Collateral security offered and NOC from joint owners of Agriculture Land on which the Project is proposed to be installed.
Top Bank Finance Consultancy Company in India for Poly House/Net House Loans.
The pre- requisite for application include a minimum 2500 Sq. Mtr. land area for NHB. In case one has taken land on lease then an registered agreement of minimum 10 years is recommended so as to offer a fair time for the repayment of loan.
Banks also ask for a margin of minimum 10-25% i.e. if the project cost is 1 crore then minimum 10-25 lacs must be invested by the applicant and the remaining amount will be paid by the bank itself. Margin Money and Rate of Interest varies from Bank to Bank.
After the submission of the application, the bank initiates the process, inspects the site, verifies and evaluates the security documents and Bank also charges Processing Fees varying from 0.1% to 1.0% of Loan Amount Sanctioned. Other Charges involved are Legal & Valuation/inspection fees. The Rate of Interest varies from 9% to 12.25% P.A. The maximum term of Loan is 7 years with moratorium period ranging from 3/6/12 months and installments can be monthly/Qly/Hly after the moratorium period as per guidelines of NABARD Bank. The Loan Disbursement is made after getting Subsidy Sanction Letter from Govt. Department. NHB issues GOC i.e Grant Of Clearance after Bank Loan Sanction and Bank disbursement, Project Work is done/started after getting GOC only.
After Completion of the Project, Documents like Completion Certficate by Bank/CA, Loan Statement etc. along with other required documents are sent to NHB online by the Applicant and JIT i.e Joint Inspection of Project site is done by Team of NHB/Bank/Local NHM officials with Beneficiary and Pics/Videos are made for the meeting for release of Subsidy to SRF Account of concerned Bank. The Subsidy is Back end and adjusted after 3 years in Loan account of Beneficiary although no interest is charged on Subsidy amount from hi. Beneficiary can reschedule/reduce the EMIs after getting the subsidy. Also Loan can be closed after 3 years after adjustment of the subsidy in Loan account. Under AIF scheme, Bank gives discounted rate of interest of 6% to eligible Agriculture Projects. Presently, AIF is applicable to Poly/Net Houses for FPO/FPC/SHG only and not to individuals.
How Many Banks Provide Loans
Banks which can assist are Public Sector Banks – Central Bank Of India, Bank of Baroda, Bank of India, IDBI Bank, Oriental Bank of Commerce, SBI, PNB etc.
Every bank has their own policies w.r.t. different loans with varying rate of interest. For example, Central Bank of India provides loan upto 80% of the total Project with a repayment period of maximum of 7 years along with a moratorium upto 12 months.
The repayment period varies with the bank and depends on purpose of investment, economic life of the project and cash flow activity.
Also, recovery starts after the moratorium period and the repayment frequency can be negotiated with the bank i.e. half yearly, quarterly or monthly. Regarding the security deposition for loan, mortgage of land along with preferably some collateral security will be required.
Since, raising viable crops under protected structures gives the opportunity to enjoy more profits than in open cultivation and with time the applicant will be able to repay the debt, the amount credited from the source should not be point to be concerned about if right practices are adopted.
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