THE KERALA STATE CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD(KSCARDB)

Comprehensive Rural Development Through Credit

ARF-Fin. TWO WHEELERS

  • Objective

    The object of the scheme is to provide credit for purchase of two wheelers to farmers under Automatic Refinance Facility(FS).

  • Eligible borrowers

    Individuals

  • Items of investment

    Cost of vehicle, taxes and insurance payable on purchase of vehicle

  • Margin

    A margin of 25% of the cost of the vehicle will have to be contributed by the borrower

  • Repayment of loan

    Not exceeding 5 years subject to financial viability and bankability

  • Security

    As in loan rules, fixed by the apex bank under relevant scheme; in accordance with the guidelines issued by RBI/NABARD/RCS.

  • Rate of Interest

    Interest rate will be fixed by KSCARD Bank from time to time in accordance with the guide lines issued by RCS/NABARD/RBI.

  • Reporting system

    The monthly lending progress/disbursement statement should be furnished to the apex bank in the prescribed format, by PCARDBs.