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IOB - Warehouse Receipt Finance

IOB - Warehouse Receipt Finance
  
IOB - Warehouse Receipt Finance Scheme
 
 Objective  To finance farmers by way of advance against warehouse receipts evidencing pledge of Agricultural produce.
 Eligibility  All category of farmers (Loanee as well as non loanee farmers)
 Purpose  To provide financial assistance to farmers for storing farm produces in private / government warehouses, cold storages etc against pledge of warehouse / Cold storage receipt, to prevent distress sale.
Mode of Assistance                The loan amount will be 60 % of the value of the produce stored in the warehouse.
Amount of Loan
For Individual farmers and members of SHGs/ Joint Liability Groups:   
Maximum Finance is Rs. 10.00 lacs   (Advance to be categorised as Direct Agricultural Advance)

For Partnership firms , Corporates & other institutions:
Minimum Finance : Rs.  10.00 lacs
Maximum Finance: Rs. 100.00 lacs
Rate of Interest For loans upto Rs 10 lacs – Base Rate (10.75% at present)
For loans above Rs 10 lacs – Base rate + 1%
Security Pledge of warehouse / Cold storage receipt
Repayment Period Within 12 Months
Other details For other details please contact our nearest IOB branch.