TMB Rice Mill Loan – Eligibility, Interest Rate, Documents, Project Cost & Apply Guide (MSME Loan)

📌 What is TMB Rice Mill Loan?

The TMB Rice Mill Loan is a business finance scheme offered by Tamilnad Mercantile Bank (TMB) to support entrepreneurs in setting up, expanding, or modernizing a rice milling business in India.

This loan is part of the bank’s MSME and agro-processing financing scheme, designed to promote rural and agricultural industries.

💰 Loan Amount (TMB Rice Mill Loan Limit)

• Maximum loan amount: Up to ₹5 crore (₹500 lakhs)
• Covers both:
• 🏭 Term Loan (machinery & infrastructure)
• 💰 Working Capital Loan (operations & raw material)

🏗️ Expenses Covered Under TMB Rice Mill Loan

This loan supports complete rice mill business setup:

📌 Fixed Capital Investment

• Rice mill building construction
• Milling machinery and equipment
• Boilers, dryers, and processing units
• Electrical installation
• Storage godowns and warehouses

📌 Working Capital Requirements

• Purchase of paddy (raw material)
• Labour charges
• Packaging materials
• Transportation and logistics
• Daily operational expenses

👨‍💼 Eligibility Criteria

Applicants eligible for TMB Rice Mill Loan:

• Individual entrepreneurs
• Proprietorship firms
• Partnership firms
• Private limited companies
• MSME agro-processing units

👉 Applicant must be involved in rice milling or agro-based business activities

💵 Margin (Own Contribution)

• Stock: 20% margin
• Machinery: 25% margin
• Book debts: 25% margin

📊 TMB Rice Mill Loan Interest Rate

• Interest rate: Linked with bank MCLR/RLLR
• Approx range: 10% – 12% per annum
• Final rate depends on:
• Credit profile
• Business strength
• Project viability

⏳ Repayment Tenure

• Term loan repayment: Up to 7 years (84 months)
• Working capital: Renewable every year
• Grace period may be available for new projects

🛡️ Security / Collateral

• Primary security: Assets created from loan
• Hypothecation of machinery and stock
• Collateral security may be required (up to 50% coverage in many cases)

📄 Documents Required

To apply for TMB Rice Mill Loan, you need:

• Aadhaar Card / ID proof
• PAN Card
• Land & building documents
• Detailed Project Report (DPR)
• Machinery quotation
• Bank statement (last 6–12 months)
• MSME registration (if available)
• Income and business proof

🌟 Key Features of TMB Rice Mill Loan

• 🚀 High funding support up to ₹5 crore
• 🏭 Suitable for small & large rice mills
• 💰 Includes working capital facility
• 📉 Competitive interest rates
• ⚡ MSME-friendly approval process
• 🌾 Supports agro-based industries and rural economy

🏦 How to Apply for TMB Rice Mill Loan?

1. Visit nearest Tamilnad Mercantile Bank branch
2. Prepare a detailed rice mill project report (DPR)
3. Submit required documents
4. Bank verification and feasibility study
5. Loan approval and disbursement

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