The financial needs of those involved in the commodities business, such as farmers, traders, processors, and aggregations, are met by the loan against ware house receipt offered by RBS Bank. A lucrative credit is made available for agricultural enterprises, using agricultural commodities as securities, including those kept in demat form.
Features
Rates & Charges
Repayment
Eligibility Criteria
Documents Required
Features
- Quick loan approval and disbursement with minimal paperwork
- No extra security, other than agricultural goods, there is
- Attractive interest rate
- Quick delivery of goods following payment of debts
Rates & Charges
- Margin: 30 % on warehouse receipt
- Rate of Interest: 9.75% p.a.
- Pre-Payment Penalty:00% + GST
- Upfront Processing fee: @ 0.30% + GST on one-time basis, on total sanctioned
amount. - Penal interest: 2% to be charged for the period of default in repayment
Repayment
- For Term Loan the period will be same as on ware house receipt expiry date.
- For Cash Credit Loan the renewal will be after 36 months. (Review 12+12+12)
Eligibility Criteria
- The applicant\s should have completed 18 years.
- Applicant\s should be A Class Member of our bank.
- Applicant should be a Farmer, Agriculturist, Goods general merchant or commission agent.
- The applicant\s must be in possession of registration / licenses of the ware house, as applicable under local law e.g. Shop Establishment act, Sales tax Registration, IT returns, if any or any other relevant permission/ license from institute .
Documents Required
- Proof of identity
- Proof of address
- Proof of income
- Registration or license of the property.
- KYC of Applicant(s) & Guarantor(s)
