Product Details
Kisan Bandhu
Hyderabad
A Quality Product from
Andhra Bank [View Profile]
Hyderabad - India
Description :
Objective
To finance for tractors to improve farm mechanization.
Eligibility
Farmers having 3 acres of perennially irrigated (owned) or 6 acres of dry land (owned)
Quantum of finance
Up to unit cost of the tractor
Margin
15% of the unit cost
Repayment
9 yearly or 18 half yearly installments linked to harvesting season.
Collateral Security
Up to Rs.3,50,000/- , no collateral security.
Above Rs.5, 00,000/-: Collateral security in the form of mortgage of land/charge creation under state laws
Rate of interest
Up to Rs.5, 00,000 : 9.50%
Our Bank entered into MOU with Eicher, Mahindra and Mahindra, Bajaj Tempo Ltd and TAFE tractor companies, New Holland for financing tractors.
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Andhra Bank deals in :
NRI Services: -Particulars of NOSTRO Accounts Maintained by International Banking Division Mumbai. -List of branches authorised to handle / transact foreign Exchange. -Mandatory fields for Wire Transfer of funds in EUR to any Branches of Andhrabank. -Mandatory fields for Wire Transfer of funds in GBP to any Branches of Andhrabank. -Mandatory fields for Wire Transfer of funds in USD to any Branches of Andhrabank. International Business Services: Exporters: -Advising Letters of Credit established by foreign buyers -Obtaining Credit Report on buyers abroad -Negotiation of documents under Letters of Credit Collection of Bills -Packing Credit Finance in Indian Rupees -Packing Credit Finance in Foreign Currencies -Export Earners' Foreign Currency Account -Forward Exchange cover. Importers: -Opening Letters of Credits on behalf of Bank's Constituents -Issue of Bank Guarantees on behalf of Bank's Constituents -Collection of Bills -Obtaining reports on Exporters/Sellers abroad -Facility for remittance of proceeds by Mail Transfer/Teletransfer/Swift -Import loans in Foreign Currency -Loans for import of capital goods. Student Services, Services to International Tourists, Services to Businessmen, Services for Medical Treatment Abroad.
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