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Agricultural Credit

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.

2

 

 

 

3

Investment Loan

 

 

 

Interest Assistance

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



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