This section covers about Agricultural Credit related schemes in Andaman and Nicobar.
What to Do?
- To save themselves from the clutches of money lenders, farmers can avail loan facility from banks.
- Loan facility is available through a large network of Commercial Banks, Regional Rural Banks and Cooperative Credit Institutions in the country to fulfill the crop loan and term loan needs of the farmers.
- Ensure timely repayment of bank loan.
- Proper record of loan should be maintained by farmer.
- Utilize the bank loan for actual purpose for which bank loan is taken.
What Can You Get?
|S.No||Credit facility||Quantum of assistance.|
|1||Kisan Credit Card||Farmers can avail crop loan through Kisan Credit Card. Loan /credit limit is decided on the basis of crop sown on cultivated land by the farmers and Kisan Credit Cards are valid for 3-5 years. Farmers are also provided cover of Rs.50,000/- maximum for accidental death.|
Loan facility to the farmers is available for investment purposes in the areas viz. Irrigation, Agricultural Mechanization, Land Development, Plantation, Horticulture and Post Harvest Management.
Collateral/ security-free loan
Crop loan upto Rs.3 lakhs at 7% rate of interest. This interest rate
becomes 4% due to 3% interest subvention incentives provided to
those farmers who repay crop loan on time
No need of collateral security for farm loan up to Rs.1.6 lakh
Whom/Where to Contact?
Nearest Commercial Banks, Regional rural Banks and Cooperative Banks / Co-Operative Credit Societies.
Source: Department of Agriculture