Agriculture Loan

Type of Agriculture Loan

There are common types of agricultural loans in India are offered by the banks are :

• Crop Loan/ Kisan Credit Card.
• Agriculture Term Loan.
• Agriculture Working Capital Loan.
• Farm Mechanization Loan.
• Horticulture Loan.
• Forestry Loan.
• Loan for various activities

Steps to Applying for an Agricultural Loan.

Before applying for an agricultural loan, you must double-check the loan plan. Ensure you read all the Terms & Conditions of the loan. You will need to submit all the documents asked by the lender. There are some institutions and banks which offer online services too. In this case, you just need to properly navigate to the lender’s website. Enter all the details asked by the website and upload all the necessary documents. The loan lender will review your application. After the review & verification is completed, the lender will sanction your loan.

Purposes of Agricultural Loan.

• You can avail of agricultural loans for farming equipment and tools.
• b Individuals can avail the loan for the purchase of land.
• Horticulture projects can also be one of the purposes to avail the agricultural loan.
• You can apply for a loan for the purchase of a vehicle to carry out your agricultural activities efficiently.
• For establishing a dairy unit this loan can be availed.
• Individuals establishing a poultry unit can also avail of this loan.
• You also avail of this loan for seasonal requirements.
• Fishermen can also avail of this loan for fishing purposes.

Documents Required for Agricultural Loan.

• Loan application form
• KYC documents
• Asset documents, which will act as security for the loan
• Security PDC (Post-dated cheque

Interest Rate

Fixed interest rate of 6.25% per annul applicable on the loan amount Interest rates are fixed and non-negotiable.

File Charges 3920/- (Security Amount) will be refunded Rs 3000/- (three thousand) with the loan amount & DOCUMENTARY FEES:- 920(NON- REFUNDABLE)