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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?

A: Credit Facility to Farmers

S.No Credit Facility Quantum of Assistance
1 Interest Assistance Crop loan upto 3.00 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
2 Collateral / security-free loan No need of collateral security for farm loan up to 1.60 lakh
3 Kisan Credit Card Farmers can avail crop loan through Kisan Credit Card. Loan /credit limit is fixed on the basis of crop sown and area under cultivation. Kisan Credit Cards are valid for 3-5 years.

Farmers are also provided risk coverage in the event of accidental death/ disability. Crop coverage loans are covered under the Crop Insurance Scheme.
4 Investment Loan 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

Whom to Contact ?

Nearest Commercial Banks, Regional Rural Banks and Cooperative Credit Societies

Source: Department of Agriculture & Cooperation



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