Agriculture Loan

Purpose     1. To meet the short term credit requirements for cultivation of crops, Vegetables & other Cash Crops ( which includes input cost of crop cultivation like cost of seeds, cost of labor, cost of fertilizer, cost of irrigation, etc)
2. Post harvest expenses
3. Produce Marketing
4. Working capital for maintenance of farm assets, farm machinery and activities allied to agriculture, like dairy animals, inland fishery etc.
5. Working capital for required for Orchard farming
6. Investment credit requirement for agriculture and allied activities like Tractor, Combine, pump sets, sprayers, dairy animals etc.
Eligibility
  • Individual Farmers or group of farmers or intending borrower having aptitude/adequate experience.
  • Leased land holder with valid contract.
Nature
  • Term loan/ overdraft/
Limit
  • OD-Maximum Rs. 50.00 Lac
  • TL-Need Based
Margin
  • Minimum 20.00% for loan up to Rs. 50.00 Lac
  • Minimum 25.00% for loan above Rs. 50.00 Lac
Interest rate
  • Competitive rate/As per NRB guidelines (Subject to Change)
Repayment
  • OD- Revolving up to 5 years
  • TL-Maximum 10 years
  • Equated Monthly Installment in case of Term Loan
Security
  • Hypothecation of crops/assets created out of bank loan and
  • Registered mortgage of immovable property
  • Alternative security like lien over liquid securities such as Term Deposit / NSBs/ Government securities