Agriculture Loan
Agriculture loans provide financial support to farmers for various purposes, including crop cultivation, buying equipment, animal farming, and purchasing agricultural inputs.
Types of Agriculture Loans
Crop Loan: Short-term loans for cultivation, farm equipment maintenance, and other post-farm activities. Comes with a Kisan Credit Card for easy withdrawal.
Agricultural Term Loan: Long-term loans for non-seasonal expenses such as buying or upgrading equipment like windmills or solar power systems.
Solar Pump Set Loan: For farmers involved in irrigation projects needing photovoltaic pumping systems. Repayment tenure up to 10 years.
Loan for Allied Agricultural Activities: For farmers needing working capital for activities like animal husbandry.
Farm Mechanisation Loan: For purchasing or upgrading farming machinery.
Other Types of Loans:
- Agricultural Gold Loan: Loans against gold ornaments for various farming expenses.
- Forestry Loan: For activities such as converting barren land into farming land.
- Horticultural Loan: For setting up vegetable farms and orchards.
Features and Benefits:
- Simplified Documentation: Easy documentation process with minimal requirements.
- Quick Processing: Fast verification and approval.
- Competitive Interest Rates: Starting as low as 8.80% p.a.
- Flexible Tenure: Short- and long-term options available.
- Transparency: No hidden charges; all fees are disclosed upfront.
Eligibility
- Age Limit: Applicants must be between 18 and 70 years.
- Asset Ownership: Necessary assets to be hypothecated to the bank.
- Application Basis: Loans can be applied for individually or jointly, subject to lender terms.
Documents Required:
- Application Form: Completed and signed.
- KYC Documents: Proof of identity and residence.
- Land/Asset Documents: As required for collateral.
- Security PDC: Post-dated cheques for security.
- Additional Documents: As mandated by the lender.
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