Purpose
To meet the cost / expenses of any genuine direct agricultural purpose (including allied activities).
Eligibility
Any farmer (individuals only) having good track record / repayment history with our bank. Borrowers having Federal Kisan Credit Card accounts with us where interest is serviced promptly and credits in the Federal Kisan Credit Card account in the particular year are not less than the limit sanctioned are alone eligible under the scheme.
Type of facility
Agricultural Term Loan
Loan Amount
50% value of collateral security or 5 times the previous year’s net agricultural income from agriculture and allied activities; whichever is lesser subject to maximum of 75% of the proposed investment cost.
Minimum loan amount - Rs.3 Lakhs and maximum loan amount - Rs.10 Lakhs.
Maximum of two loans under this scheme can be outstanding at a time.
Period and mode of repayment
Maximum period - 120 months with monthly/ quarterly/ half yearly or annual installments depending upon the cash flow with a maximum cushion period of 12 months.
Graded installments can also be considered depending on the income generation pattern.
Rates & Interest
See Rates & Interest Page
Security
Primary Security:
Hypothecation of assets; Equitable Mortgage of developmental land.
Collateral Security:
Property of value of 200% of loan amount and shall be a residential property with or without house or a commercial property.
Co-obligant
Spouse of the applicant.
Please contact your nearest branch for any further enquiries