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Agriculture Loan
Agriculture loans are designed to meet the financial needs of farmers, agricultural entrepreneurs, and related businesses. These loans help support farming activities such as buying seeds, fertilizers, equipment, or funding for expansion. Our agriculture loan offers competitive rates and flexible repayment terms to empower our farmers and agribusinesses.
- Loan Amount: Varies based on the type of farming, land ownership, and project requirements. Generally, loans range from ₹50,000/- to ₹10 Lakh.
- Low Interest Rates (ROI): 6% per annul (subject to loan type and borrower profile).
- Repayment Tenure: Flexible tenure ranging from 1 year to 10 years, based on loan amount and the project’s cash flow.
- Quick Disbursement: Funds are disbursed promptly once all necessary documentation and procedures are completed.
- No Prepayment Penalty: You can repay your loan early without any penalty charges.
- Loan Coverage: Can be used for purchasing machinery, fertilizers, seeds, irrigation systems, and other farming equipment.
- Age: Applicant should be between 21 to 59 years of age.
- Farm Ownership: Applicant must own or lease agricultural land for at least 1-2 years.
- Credit Score: A decent credit score is preferred, but not mandatory for farmers with established income sources.
- Aadhar Card (for identity verification)
- Pan Card (for income tax and verification)
- Land Ownership Document (or lease agreement, if applicable)
- Bank Statement (for the last 6 months)
- Passport-sized Photograph (for identification)
- 6% annual interest rate (subject to the type of loan and borrower profile).
- Flexible terms based on the loan amount and repayment duration
- ₹3,860/- (₹3,300/- refundable upon loan disbursement).
Free health and fund insurance are offered as an additional benefit with the Agriculture loan.
Insurance Benefits for Agriculture Loan Holders:
In addition to the agriculture loan, we offer Health and Fund Insurance coverage at no extra cost to all our agriculture loan customers. Our partnership with Insurance Company ensures that the borrower is protected against health emergencies and financial setbacks, especially given the unpredictable nature of agricultural work.
Benefits:
- Health Insurance: Covers hospitalization, treatment costs, and doctor consultations. Essential for farmers who are frequently exposed to health risks in the field.
- Accidental Coverage: In case of an accident while working on the farm, this insurance provides compensation for medical bills.
- Income Protection: Protects against loss of income due to health emergencies or accidents.
- Life Insurance: Provides a lump sum benefit to the family of the borrower in case of accidental death, ensuring their financial stability.
- Property Insurance: Covers damage to agricultural property (e.g., crops, machinery) due to unforeseen natural calamities.
- No Additional Costs: Health and Fund Insurance is offered at no extra cost as part of the loan package.
- Comprehensive Coverage: Covers medical emergencies, accidental death, disability, and more.
- Quick Claims Processing: Fast and efficient claims processing for all types of insurance coverage.
- Cashless Network: Avail cashless hospitalization across a wide network of hospitals.
- 24/7 Support: Round-the-clock customer support for health-related inquiries and claims.
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