DAIRY PLUS SCHEME FOR FINANCING DAIRY UNITS

PURPOSE

For construction of shed, purchase of milch animals, milking machine, chaff cutter or any other equipment required for the purpose.

Who are eligible?
  • Individual farmers who are members of the milk procuring societies or located on milk route.

  • They should be less than 65 years of age.

  • Individual dairy unit having less than 10 animal - should own minimum 0.25 acre of land for every 5 animals for growing fodder and be in a position to procure the balance requirements locally.

  • Individual dairy unit having 10 animals and above - should own or lease a minimum of one acre of land for cultivation of fodder for every 5 animals.

Other terms
  • Only buffaloes producing more than 7 litres of milk per day and cows producing more than 8 litres of milk per day are financed

  • Animal purchase should be in 2 batches

Animals in first and second lactation alone are eligible for finance

LOAN AMOUNT:
  • 100% of the cost for loans upto Rs 100,000/

  • 90% of the cost for loans above Rs 100,000/ with a maximum of Rs 5 lakhs as Term loan

WORKING CAPITAL: A working capital @ Rs.2500/- per animal per year may be Sanctioned for purchase of feed, fodder and medicine along with the term loan

Security
  • Hypothecation of assets created out of bank finance for loans upto Rs 1.00 lac .

  • For loans Over Rs.1 lac -Mortgage of landed property (or) third party guarantee

  • Worth for loan amount (or) group guarantee of other 2 dairy farmers.

How do you repay

The loan should be repaid in monthly installments over a period of 5 lactations.

How to apply for this loan

You may contact our nearest branch or talk to the marketing officers visiting your village.