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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.NoCredit FacilityQuantum of Assistance
1Interest AssistanceCrop 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
2Collateral / security-free loanNo need of collateral security for farm loan up to 1.60 lakh
3Kisan Credit CardFarmers 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.
4Investment LoanLoan 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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