credit is linked with the shares. For getting long term loan, the prospective borrower
has to become an A Class member of the Primary Agriculture Development Bank of his
area. Any landowner or landless agricultural laborer residing in the area of operation
of a Primary Agriculture Development Bank can become its member/share holder if he is not less
than 18 years of age and is of sound mind.
a member he is required to submit membership form along with passport size photograph
attested by the village sarpanch of lambardar or by the Primary Agriculture Development
Bank manager and deposit Rs.300/- in token of purchase of minimum shares of Rs100
each and Rs.5 as admission fee.
of Loan :-
be advanced only against the security of his agricultural land. Loan can also be
taken against the security given by a third party. Further, the loan is advanced
in the ratio of 80% of the value of the land is fixed by the Bank on an average
basis by keeping the average sales statistics as per revenue record.
advanced according to the loan policy of the Bank for every purpose of loan.
advanced at 20 times of the shares purchased by a member. In other words, the member
can purchase maximum shares of Rs.50,000/-and can avail loan facility upto Rs.10.00
loan is required to
make down payment from 5% to 15% including 5% as share money
on his own share in the investment, according to the purpose of loan.
loan is advanced at simple rates of interest according to the quantum of loan, which is as under :-
Up to Rs.25,000
to Rs.2 lakh
For The Disposal Of Loan Cases :-
verifies the case within 7 days and sends his report to the Primary Agriculture
Development Bank for sanction of loan case.
Agriculture Development Bank takes three days for legal scrutiny as well as its
sanction and forwards the same to the field officer for Loan Sanction Order (LSO)
Officer takes three days for the LSO compliance and returns the case to the Primary
Agriculture Development Bank for disbursement of the loan amount.
takes two days for the disbursement of loan case.
way, the loan case is disposed off within 15 days from the date of receipt in the
Primary Agriculture Development Bank.