Are you a dairy farmer looking to enhance your dairy operations and improve your economic condition? Uttar Bihar Gramin Bank presents the Integrated Dairy Development Scheme, aimed at supporting dairy farmers like you. Let’s delve into the details:
Table of Contents
Loan Purpose
Our Integrated Dairy Development Scheme is designed to foster self-employment and provide vital infrastructure for the dairy sector. It enables the establishment of dairy projects with 2, 5, or 10 milch cattle, ultimately strengthening the social and economic conditions of dairy farmers.
Eligibility
This scheme is open to farmers, Self Help Groups (SHGs), and individuals who are permanent residents of the area and fall within the bank’s service area. To qualify, applicants should not have a history of defaulting on any loans from banks or financial institutions.
Loan Components
The scheme focuses on crossbreed cows capable of daily milk production of a minimum of 10 liters.
Loan Amount
Under this scheme, you can access a maximum loan of 1.00 lakh for a unit comprising 2 cows. Additional cows can be financed as per the bank’s circular.
Margin Requirement
A minimum margin of 10% is required for this loan.
Subsidy
Beneficiaries can avail a subsidy amounting to 50% of the project cost.
Collateral Security
- For loans up to 1.00 lakh, no collateral security is required.
- Loans exceeding 1.00 lakh are subject to collateral security as per the bank’s circular.
Repayment Period
The repayment period for this loan is 5 years, with equated monthly installments.
Lock-in Period
A minimum lock-in period of 3 years is applicable.
Interest Rate
The interest rate for this loan is set at 12.50%, payable half-yearly (subject to change).
KYC Required
Applicants need to complete the Know Your Customer (KYC) requirements.
Insurance
Insurance of cattle is mandatory for this scheme to protect your valuable livestock.
Disbursement of Loan
Cattle must be purchased at identified Hat/Fair events with a Purchase Committee. The loan amount will be paid directly to the supplier/seller.
Purchase of Second Cattle
You can consider purchasing a second cattle 4-6 months after acquiring the first one, allowing you to gradually expand your dairy project.
With Uttar Bihar Gramin Bank’s Dairy Loan, you’ll not only receive financial support but also empower yourself to create a brighter future for your dairy farming endeavors. Our casual and customer-friendly approach ensures that you can discuss your unique requirements with us, and we’ll tailor a solution that best fits your needs.
Don’t miss this opportunity to transform your dairy farming venture. Reach out to Uttar Bihar Gramin Bank today and embark on a path to dairy farming success.
