Agriculture Loan For Farmers


Agriculture Loan For Farmers

Agricultural loans are any loans that are availed by a farmer to fund seasonal agricultural operations or related activities like animal farming, pisci-culture or purchase of land or agricultural tools. While seasonal agricultural operations routine activities like include preparing and ploughing land for sowing, weeding, and transplantation where necessary, buying inputs such as fertilizers, seeds, insecticides etc. and engaging labour for cultivating and harvesting the crops.

In India, agriculture has been marked as priority sector because farmers constitute a large part of the population. As such agriculture sector qualifies for priority sector lending at lower interest rates by banks. In India, most of the commercial banks, co-op societies and rural banks provide agricultural loans to farmers.

Why Should You Take an Agriculture Loan 

A number of lenders today, offer a range of agriculture loans for the benefit of their customers. The various purposes for which you can avail an agriculture loan are as follows: 

Purchase of farming machinery and equipment 

Purchase of land 

Horticulture projects 

Purchase of vehicles 

Establishment of dairy units 

Establishment of small poultry units 

For working capital needs 

For seasonal requirements 

For fish farming 

Documents Required for Agriculture Loans 

The documents that you may be asked to submit at the time of applying for an agriculture loan are as follows: 

Duly-filled application form 

KYC documents 

Land/asset documents 

Security PDC

Any other document mandated by the lender  

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