Bee Keeping Loan


Bee Keeping Loan

Beneficiery Individual entrepreneurs, farmers,producer companies,partnership firms, corporations,NGOs,SHGS,JLG and cooperatives.
Purpose Setting up of bee keeping unit.
Loan Limit Max.Rs.10.00 lac
Rate of interest 10.25%
Margin 15%
Repayment Max.7 yrs. Equated monthly installment including grace periods of six months.
Collateral security Time pronote, hypothecation of the bee keeping boxes to be financed by the bank, guarantee of two perons having sufficient net worth and should be nominal member of the bank. Mortgage of the landed property whose value should not be less than 150% of the loan amount.
Procedure The applicant shall submit the proposal to the fianacing branch for sanction. The branch manager after appraisal the loan case as per norms and if found feasible and viable shall recommened/sanction the loan as per delegated sanctioning powers. The branch manager got neccessary documents executed from the borrowers. After execution of the documents the manager shall get the margin money deposited from the applicant in his savings bank account. The manager shall disburse the loan in the form of Draft/ Pay order/ Cheque in favour of third party from whom the borrower have to purchase honey bee(with combs) and hibes by  debiting the loan account for the loan and savings bank account for the margin money.
Insurance The honey bee and hives financed under the scheme shall be fully insured and should be clearly mentioned in the insurance policy that the live stock is hypothicated with the financed bank
area of operation Loan shall be advanced in the area operation in the kapurthala district.</
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