DIFFERENTIAL RATE OF INTEREST (DRI) - Agri & Rural

Features

• Beneficiaries
  • To provide bank finance at a concessional rate of interest of 4 per cent p.a. to the weaker sections of the community for engaging in productive and gainful activities so that they could improve their economic conditions
  • Minimum of 40% of DIR advances to SC/ST beneficiaries. 2/3rd of the advances should be routed through Rural/Semi urban branch.
  • Overall target for the Bank: 1% of the total advances of the bank as on previous year.
• Purpose
  • Agri and allied activities
  • Housing
  • Trade and other Services
  • Individuals who have found livelihood opportunities in collection of garbage / waste under Swatch Bharat initiative of Government, Other purposes.
• Loan Quantum
  • For House Loan Purpose: Rs 20,000/-
  • For Other Purposes : Rs 15,000/-
• Margin :  Nil
• Repayment : 5 years including moratorium period 
• ROI :  4% p. a. at Simple rate. 
• Credit Guarantee 
  • Family income of the borrower from all sources does not exceed Rs.18000/- in Rural area and Rs. 24000/- in Urban and Semi urban area per annum
  • Land holding not to exceed 1 acre of irrigated land or 2.5 acres of non- irrigated land.
  • SC/ST borrowers are eligible for finance irrespective of their land holdings