union bank of india different schems for different section of society

UNION BANK 1. Short Term Agricultural Advances: Crop Loan 2. Union Green Card (Kisan Credit Card) 3. Union Gold Scheme 4. Construction of Cold Storage / Rural Godown 5. Farm Mechanisation Scheme for Agriculturists 6. Scheme for Financing Farmers for Purchase of Land for Agriculture Purpose 7. Scheme for Financing Setting up of Agriclinics/Agribusiness by Agricultural Graduates 8. Union Mortgage Scheme for Farmers 9. Scheme for Financing Unemployed Agricultural Graduates to Develop a Model Farm 10. Purchase of Two/Three/Four Wheelers 11. Swarna Jayanti Gram Swarozgar Yojana (SGSY) 12. Differential Rate of Interest (DRI) 13. Prime Minister's Rojgar Yojana (PMRY) 14. Scheme for Liberation & Rehabilitation of Scavengers (SLRS) 15. Swarna Jayanti Shahari Rojgar Yojana (SJSRY) 16. Interest Subsidy Scheme of Ministry of New and Renewable Energy (MNRE) for purchase of Solar Water Heaters. 13. Other Schemes 1. SHORT TERM AGRICULTURAL ADVANCES: CROP LOAN Top Objective: To meet all expenses involved in raising a particular crop including various agronomic practices Eligibility: Farmers cultivating owned/Registered leased lands/share croppers. Loan Amount: As per the scale of finance  In other cases where scale of finance is not specified, the branch has to work out the credit requirement of the farmer For further details Click here 2. UNION GREEN CARD (Kisan Credit Card) Top Eligibility: Farmers eligible to avail loans under conventional crop loan.  Not being defaulters to any credit institution.  Owners, cultivators, tenants, lessee farmers with recorded occupancy rights or farmers with ancestral/perpetual rights, oral tenants. Loan Amount: As per the scale of finance. Margin: Upto Rs.25,000/- - Nil Above Rs.25,000/- -- 5% to 15% (No margin, if financed as per scale of finance for crops.)  For further details Click here 3. UNION GOLD SCHEME Top Eligibility:  Any individual owning gold ornaments and jewellery, singly or jointly. Need not be existing account holder of the Bank. He should be properly introduced to the Bank. Purpose: Under Priority Sector, for all eligible purposes like agriculture. Under Non-Priority Sector, for genuine purposes including medical purpose and for meeting unforeseen expenses etc. Consumption loans for meeting the expenses on consumption needs such as medical, educational, marriage and other ceremonies etc. Loan Amount:  Priority Sector - Need based/project based. No ceiling. Consumption Loan - Upto Rs.2000/-. Non-Priority Sector - Max.Rs.5 lacs. For further details Click here 4. CONSTRUCTION OF COLD STORAGE / RURAL GODOWN   Top Objective: With a view to provide proper storage facility for perishable items like fruits, vegetables, etc. and also to provide post harvesting and marketing infrastructure. Eligibility: All Co-operatives, Companies, Corporations, Partnership and Proprietary firms, Agriculture Produce Marketing Committees/ Boards, Agro Industries Corporations and Growers’ Associations, Individuals. Project Cost: The project cost depends upon the capacity and technology used for cold storage for horticulture produce and will be arrived at on the basis of actual estimates/invoice prices of machineries, etc. For further details Click here 5. FARM MECHANISATION SCHEME FOR AGRICULTURISTS Top Purchase of power tillers, tractors/implements etc. Eligibility: Farmers having atleast 5 acres of perennially irrigated Land for tractor and 3 acres of perennially irrigated Land for tillers Productive work for minimum 1000 hrs. for Tractors and 600 hrs. for Power Tillers. Loan Amount: 75% to 90% of cost of the Unit based on quotation. Margin: 10% to 25%  For further details Click here 6. SCHEME FOR FINANCING FARMERS FOR PURCHASE OF LAND FOR AGRICULTURE PURPOSE Top Farmers to purchase land for agriculture purpose. Eligibility: Small and Marginal Farmers as defined by NABARD for this purpose.  Share croppers/Tenant Farmers. Quantum Of Loan: It will depend on : Area of the land to be purchased. Its value in the market. Repayment capacity - The farmer should have adequate surplus income from his production activities on the land being financed and other income to repay the Bank loan with interest. Quantum of loan should include land purchase cost, development cost and cultivation expenses. Margin: Upto Rs.50000/- Nil. Above Rs.50000/- 10%. For further details Click here 7. SCHEME FOR FINANCING SETTING UP OF AGRICLINICS/AGRIBUSINESS BY AGRICULTURAL GRADUATES Top Agriculture Graduates on various aspects related to crop production, marketing of crop produce and clinical services for farm animals. Eligibility: Agriculture Graduates/ Graduates in subjects allied to agriculture like horticulture, animal husbandry, forestry, dairy, veterinary, poultry farming, pisciculture and other allied activities. Project Cost And Coverage: For individual, it is maximum of Rs.10 lacs and for group, it is maximum of Rs.50 lacs. Margin: Upto Rs.25,000/- : Nil Above Rs.25,000/- and upto Rs.50,000/- : 5 to 10% Above Rs.50,000/- : 10 to 15% Under interest subsidy scheme : upto Rs.5.00 lacs there is no margin above Rs.5.00 lacs - 10-15% margin For further details Click here 8. UNION MORTGAGE SCHEME FOR FARMERS Top Objective: To meet the production, investment and consumption requirement of the farmer, Extent of Finance:   As per scale of finance for crop cultivation. In other cases, 5 to 15% margin to be brought by the borrower depending upon purpose. Project Cost: The project cost depends upon the capacity and technology used for cold storage for horticulture produce and will be arrived at on the basis of actual estimates/invoice prices of machineries, etc. For further details Click here 9. SCHEME FOR FINANCING UNEMPLOYED AGRICULTURAL GRADUATES TO DEVELOP A MODEL FARM Top Objective:  To provide employment to unemployed agricultural graduates. Purpose: To create a model farm in villages, which will provide gainful employment alongwith sufficient income generation to motivate an agricultural graduate to run a self employment venture rather than going for a job/service. It will be left to the entrepreneur to select the venture. Eligible Projects: Purchase of irrigated agriculture land - 5 acres.  Crop loans.  Construction of farm houses.  Provision of alternate source of energy i.e. solar energy and/or bio-gas plant.  Custom service units covering.  Purchase of tractor and implements for self use and hiring  Agri-business for sale of fertilizers, pesticides, seeds etc.  Agri-clinic activities i.e. consultancy, agri-services providing data on weather reports, marketing etc.  Providing allied agricultural activities such as dairy, poultry etc. Eligibility: Unemployed Agricultural Graduates not below the age of 22 years and also Agriculture Graduates who have given up the employment.  For further details Click here 10. PURCHASE OF TWO/THREE/FOUR WHEELERS   Top Objectives: For purchasing of two/three/four wheelers/trucks/jeeps/pick-up vans, etc. by the agriculturists. Eligibility: The finance may be considered preferably in case of : Agriculturists having scattered land holding/land in two or more villages in more than one piece/farm situated far away from residence. Agriculturists following intensive and multiple cropping system. Agriculturists adopting heterogeneous activities, mixed farming practices viz. Dairy, Poultry, Fisheries, Sericulture, Bee Keeping, etc., growing of vegetables, horticulture, plantation or other such activities with seasonal crops. Agriculturists staying far away from agriculture produce markets/other markets. Loan Limit: 75% of the cost of the vehicle. For further details Click here 11.  Swarna Jayanti Gram Swarozgar Yojana (SGSY) The scheme has been launched w.e.f. 01.04.1999 as an integrated programme to bring every assisted rural family above the poverty line. Subsidy is available upto 30% of project cost subject to maximum Rs.7500/-. For SC/ST 50% of the project cost maximum Rs.10,000/- and for SHGs 50% or maximum Rs.1.25 lacs. Top 12. Differential Rate of Interest (DRI)  The objective is for upliftment of weaker sections of the society by providing easy credit at cheaper rate of interest. Loan amount is maximum Rs.15000/-  and Rs 20000/-  for housing loan at 4% p.a. for individuals. Top 13. Prime Minister's Rojgar Yojana (PMRY) This scheme was launched by Government of India in October 1993 with the objective of providing employment to educated unemployed youth for setting up micro enterprises. Maximum project cost of Rs.2.00 lac for business sector and Rs.5.00 lacs for  industry sector of composite nature  are permitted. In case of partnership firm projects upto Rs.10.00 lacs are also considered subject to prescribed share of each borrower. Subsidy is 15% of the project cost maximum upto Rs.7500/- per entrepreneur. For North Eastern States, H.P., J & K, Uttaranchal subsidy will be maximum Rs.15,000/-. SHGs can also be considered for financing under this scheme provided all members satisfy the eligibility norms. Top 14. Scheme for Liberation & Rehabilitation of Scavengers (SLRS) The scheme aims to provide alternate employment to scavengers and their dependents with a maximum unit cost of Rs.50,000/-. Subsidy is available at 50% of project cost maximum Rs.10,000/- at interest rate of 4% p.a. for loans upto Rs.15000/- and at prescribed rates of the Bank for loans above Rs.15000/-. Top 15. Swarna Jayanti Shahari Rojgar Yojana (SJSRY) This scheme seeks to provide gainful employment to the urban poor (living below the urban poverty line) who are unemployed or underemployed, through setting of self employment ventures or provision of wage employment. Maximum project cost is Rs.50,000/- and subsidy is available at 15% of project cost subject to maximum of Rs.7500/-. Joint ventures are also permitted. In the case of group project of women subsidy of Rs.1.25 lacs maximum is available subject to 50% of project cost. Top 16. Interest Subsidy Scheme of Ministry of New and Renewable Energy (MNRE) for purchase of Solar Water Heaters. Keeping in view the potential benefit to the national energy, economy and to promote large scale utilization of Solar Water Heaters in the country, the MNRE is operating an Interest Subsidy Scheme on Solar Water Heating Systems through Indian Renewable Energy Development Agency (IREDA) and designated Commercial Banks and other Financial Institutions since 1996. Objective :- To promote the widespread use of solar water heaters through a combination of financial and promotional incentives and other support measures. Eligible Systems :- Water Heating Systems comprising of Flat Plate Collectors or Evacuated Tube Collectors (ETC). Eligible Suppliers :- List of manufacturers are of BIS approved Solar Flat Plate Collectors and MNRE approved Evacuated Tube Collectors. Eligibility for Loan :- All end users viz. Individual, Institution, Non-commercial organizations, or Commercial Organisations including Hotels, Hospitals etc. Association/ Business establishment etc. Loan Amount :- 85% of cost of the system – maximum amount to be restricted to the repayment capacity of the borrower as per Bank's policy/guidelines. Rate of Interest :- Rate of interest for loans under the Scheme granted under general category is @ 10.75% p.a. For loans sanctioned under Priority Sector, appropriate interest rate will be applicable subject to maximum rate of 10.75% p.a. Interest Subsidy :- Interest rate for the loans provided by the Ministry as per user category is : - 2% p.a. to domestic users. - 3% p.a. to institutional users (non-profit making and not-availing depreciation). - 5% p.a. to industrial/commercial users availing depreciation. MICRO CREDIT Loans of very small amount not exceeding Rs. 50,000 per borrower provided by banks either directly or indirectly through a SHG/JLG mechanism or to NBFC/MFI for on-lending up to Rs. 50,000 per borrower. Loans to poor indebted to informal sector Loans to distressed persons (other than farmers) to prepay their debt to non institutional lenders, against appropriate collateral or group security, would be eligible for classification under priority sector. SELF HELP GROUPS (SHGS) A Self Help Group is a homogeneous group of the rural poor voluntarily formed to save whatever amount they can conveniently save out of their earnings and mutually agree to contribute to a common fund of the group from which small loans are given to the members for meeting their productive and emergent credit needs at such rate of interest, period of loan and other terms which the group may decide. Objective · To encourage banking activity both on thrift as well as credit. · To evolve supplementary credit strategy for reaching rural poor. · To build mutual trust and confidence between banks and the rural poor. Characteristics of a SHG · The membership of a Group may be 10-20. · The Group may be registered or unregistered. · The Group should devise a code of conduct to bind themselves. · The Group to decide the amount to be saved, its periodicity and the purposes for which loan can be given to members. · The Group to decide the market oriented rate of interest to be paid/charged on savings/credit to members. Quantum of Loan · The proportion of savings to the loan could vary from 1:1 to 1:4 depending on the rating of the SHG by the Bank. Security · Inter Se Agreement by all members. · Articles of Agreement by authorised members. STATE SPONSORED ORGANIZATIONS FOR SCHEDULED CASTES/SCHEDULED TRIBES Advances sanctioned to State Sponsored Organisations for Scheduled Castes/Scheduled Tribes for the specific purpose of purchase and supply of inputs to and/or the marketing of the outputs of the beneficiaries of these organisations. SMALL BUSINESS Small business would include individuals and firms managing a business enterprise established mainly for the purpose of providing any service other than professional services. The limit for lending under the scheme is Rs.20.00 lacs for the original price of the equipment without any ceiling for working capital. Advances for acquisition, construction, renovation of houseboats and other tourist accommodation, distribution of mineral oils advances to judicial stamp vendors and lottery ticket agents also come under this category. For More Details: http://www.unionbankofindia.co.in/sb_Agriculture.aspx 11.OTHER SCHEMES Bulk Finance to Cold Storage Units Against Storage of Agricultural Commodities Minor Irrigation & Drip/Sprinkler System Reclamation and Land Development Development of Plantation/ Horticulture/Floriculture Union White Card Allied activities Dairy/Poultry/Goat/Sheep/Piggery/ Beekeeping etc. Sericulture Bio Gas Plants Consumption Loan Loans against FDR/NSC etc. for agriculture purpose Indirect Advance to Agriculture For further details Click here For Application forms Click here Source: http://www.unionbankofindia.co.in Top
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