Credit > Baroda Farm Loan

Baroda Farm Loan
For Agriculture financing

Purpose

purchase of farm land, farm development / cultivation and other farm related expenses

Facility
Farm OD/Demand Loan


Eligibility
All individuals of Fiji Citizenship who have attained the age of Twenty One years and engaged in Farming Activity for at least three years.
Lease period of Land should be sufficiently higher than repayment tenure of the loan.
Average tonnage in case of sugarcane farming during during the last three years is minimum 200 Tonnes.

Loan Amount:
Minimum $3000.00
Maximum $25000.00
(Subject to Cane Production, Repayment Capacity and availability of Security)

Repayment Period
Loan can be repaid in maximum of 60 month with 30% of cane proceeds as available from Fiji Sugar Corporation (In case of sugar cane farming).


Other Information
Computation of Eligible Amount:
Minimum of amount computed as the lowest among as under :
$15/- per tonne for  the average production of last 3 years (in  case of sugarcane farming) Or 50% of market value of land/other security whichever is lower.

Documents :
Following Documents are required for processing Farm Loan:
  1. Sugarcane contract (in  case of sugarcane farming)
  2. Lease deed or approval notice
  3. Title deed of the land
  4. Documentary evidence to ascertain that the rent on leasehold land has been paid up to date.
  5. Ascertain from the sector office of the Fiji Sugar Corporation FSC) about cane harvested per annum for the last -3-  years as well as estimated crop for the current year (in  case of sugarcane  farming).

Documentation
  • Stamped agential authority
  • Registered crop lien over farms
  • Registered mortgage of farm land
  • Third party guarantee if mortgage property belongs to guarantor
  • Bill of sale over vehicle if required
Terms and Condtions apply

Fees and Charges
Establishment Fees
Upto $1,000.00 $25.00
From $1,001.00 to $2,500.00 $50.00
From $2,501.00 to $5,000.00 $75.00
From $5,001.00 to $10,000.00 $100.00
From $10,001.00 to $20,000.00 $200.00
From $20,001.00 to $200,000.00 1.00% of Loan Amount / OD Limit
Above $200,000.00 0.75% of Loan Amount / OD Limit
(Minimum $2,000.00)
Credit Service Fees
To be recovered in the month of February and August every year
Upto $1,500.00 $30.00 Half Yearly
From $1,501.00 to $5,000.00 $85.00 Half Yearly
From $5,001.00 to $10,000.00 $120.00 Half Yearly
From $10,001.00 to $30,000.00 $210.00 Half Yearly
From $30,001.00 to $50,000.00 $400.00 Half Yearly
From $50,001.00 to $70,000.00 $550.00 Half Yearly
From $70,001.00 to $90,000.00 $700.00 Half Yearly
From $90,001.00 to $100,000.00 $775.00 Half Yearly
From $100,001.00 to $200,000.00 $1,400.00 Half Yearly
Above $200,000.00 0.75 % of Loan Amount / OD Limit Half Yearly
(Minimum $1,500.00  and Maximum %4,500.00)
Inspection Fees
Upto $10,000.00 $30.00 per visit
From $10,001 To $25,000.00 $60.00 per visit
From $25,001.00 To $50,000.00 $75.00 per visit
Above $50,000 $100.00 per visit
Security Document Handling Fees
Upto $10,000.00 $25.00 (for all Documents)
From $10,001.00 To $50,000.00 $50.00 (for all Documents)
Above $50,000.00 $100.00 (for all Documents)
(Solicitor charges + out of pocket expenses to be recoverred seperately)
Loan Arrear Fees
Upto $500.00 $5.00 for earch installment per month
From $501.00 To $1,000.00 $10.00 for earch installment per month
From $1,001.00 To $2,500.00 $15.00 for earch installment per month
From $2,501.00 To $5,000.00 $20.00 for earch installment per month
Above $5,000.00 $25.00 for earch installment per month
Opinion Fees
Local $25.00 + Out of Pocket Expenses
Overseas $50.00 + Out of Poecket Expenses
Modification in Terms and Conditions
For each modification $100.00
Stamping Charges
$15.00 + out of pocket expenses
Document Discharge Fees
 $75.00 per document   
Settlement Fees
$75.00 per settlement
Search Fees
$30.00 subsequent $10.00 per hour
Data Bureau Charges
Individual Credit Information  $17.00
business Credit Information $22.50
                    Cheque Book Charges            
                              $2.00 per fifty leaves book plus stamp duty as applicable
(For Current and Overdraft Accounts)		  
Stop Payment Charges 
$10. 00 per instrument
                    Duplicate Statement Fees            
                    $2.00 per page Computer Printout
$7.50 per page statement		            
                               
                               
Dishonour Cheque Charges 
Outward-$25 per instrument
                    Cash Handling Charges              
                    Total cash deposit below $5000 (per day)           Nil  
                    Total cash deposit $5000 & above (per day)           0.50% of total cash deposit  

© 2013 Bank of Baroda, Fiji Territory, GPO. Box.57, Suva, Fiji Islands.