Union Bank of India provides financing to a wide range of food and agro-processing units, including: -

• For purchase of new machinery, equipment, expansion of unit
• For construction/renovation of factory building

The maximum loan amount available for food and agro-processing units varies based on various factors such as the unit's size, scale of operations, creditworthiness, and financial history. However, Union Bank of India offers flexible loan options with customized repayment terms to suit the unique requirements of each unit.

30-50% collateral is required based on the limits availed

The repayment period for financing to food and agro-processing units may vary depending on the loan amount and the borrower's creditworthiness. However, Union Bank of India offers flexible repayment options, working capital should be renewed in 12 months. Term loan to be repaid in maximum 84 monthly installments inclusive of moratorium period.

The interest rates for financing to food and agro-processing units may vary depending on the loan amount, repayment period, and the borrower's creditworthiness. However, Union Bank of India offers competitive interest rates, and borrowers can contact the nearest branch or loan officer for detailed information on the prevailing interest rates.

Union Bank of India does not charge any prepayment penalty for availing financing to food and agro-processing units. Borrowers can make prepayments towards their loan account as per their convenience, without any additional charges.

Food and agro-processing units can apply for financing from Union Bank of India by visiting the nearest branch or contacting the loan officer. The borrower needs to provide necessary documents such as the business plan, financial statements, and other relevant documents to initiate the loan application process. Union Bank of India offers a hassle-free loan application process with quick turnaround time.