Reason agriculture operation or related activities like animal farm, purchase of land, or agriculture tool. These types of loans also help to buy input such as tigers, seeds insecticides, etc.
How to Get an Agriculture Loan
Banks, micro farmer institutions, and government agencies offer an agriculture loans to help develop India’s agriculture sector.
- Age criteria minimum 18 years and maximum 65 years
- Indian citizens with no criminal record
- Should not have defaulted on any previous loan
Document Required to Apply for The Loan Agriculture Loan
- 2 passport size photo
- Fill up the loan form
- Kisan credit card
- Identity proof like voter ID, PAN Card, Addhar Card, Ration Card, etc.
- Address Prof Like a Utility bills electricity bill, water bill, voter ID, Addhar Card Etc.
- Income prof Bank Statement
Benefits of Agriculture Loan
- Available with minimal Documentation
- You can repay the loan over flexible repayment tenure
- Special interest rate starting at 7% P.A maybe lower for specified govt-becked schemes
You can use the agriculture loan amount for a variety of agriculture purposes paying from short term seasonal form activities to long term investment in farm machinery