Purpose
Credit for creating irrigation facilities from underground / surface water sources. All structures and equipments connected with it are also financed. Scheme covers various activities like digging of new wells (open/bore wells), deepening of existing wells (traditional/bore well), energisation of wells (oil engine/electrical pump set), lying of pipe lines, installing drip/sprinkler irrigation system and lift irrigation system.
Eligibility
All farmers having a known source of water, which can be exploited for irrigation purpose.
Loan Amount
Up to Rs. 50,000/- 100 % of the cost of the asset / project
Above Rs. 50,000/- up to 85 % of the cost of the asset / project
Documents needed
An estimate for civil works to be undertaken and quotation for the assets to be purchased have to be submitted. Land records to ascertain the title to the property, Geologist certificate and feasibility certificate from the electricity board should also be submitted wherever relevant.
Security
| Loan Amount |
Security to be furnished |
| a)Up to Rs. 10,000 |
a) Personal Guarantee |
| b) Above Rs.10,000/- & up to Rs 1 Lakh |
b) i. Personal Guarantee
ii. Mortgage of land or third party guarantee at the discretion the Bank |
| c) Above Rs 1 Lakh |
c) i. Hypothecation of the assets created if any.
ii. Mortgage of land |
Rates & Interest
Please refer rates & charges page
Repayment
Repayment of loan will be in quarterly/half yearly / yearly installments depending on the harvest of the crops or the liquidity created by the agriculture activity undertaken.