Banks are giving different sorts of agricultural loans to farmers, like SBI. It has a huge network of 15000 branches. The primary documents required for SBI agricultural loans are duly filled application form, For ID proof – Voter ID, PAN Card, Aadhaar Card, Driving License or Passport and Aadhaar Card for Address Proof, Voter ID, Driving License or Passport. There are different types of agricultural loans offered by the State Bank of India:
Crop loan covers the costs related to crop production, post-harvest activities. Borrowers are given a Kisan Credit Card, a sort of electronic Rupay Card that can be utilized to pull back cash from ATMs exceptionally effortlessly. These cards can be utilized to purchase fertilizers. Credit balance in Kisan Credit Card account gets interest at the savings bank rate. For loan up to Rs.3 lakh, interest subvention at 2% p.a. is given. If the borrower makes timely repayments then he will get additional interest subvention at 3% p.a.
Farmers can get loans for agricultural purposes by pledging their gold ornaments. These loans have good interest rates & are disbursed almost immediately. Besides, all farming activities can be covered through these loans. Two types of gold loans available to farmers are – Agri Gold Loan for Crop Production & Multi-Purpose Gold Loan.
Agri Gold Loan can be profited by vowing gold ornaments. Easy and helpful advance process of Loan is given at nearly all SBI bank branches. Reimbursement plans are moreover flexible. Loans are accessible at all semi-urban & rural bank branches
Farm Mechanization Loan is given to purchase farming supplies and machines like tractors, control tillers, harevesters, etc. Agriculturists can profit this loan without any collateral. Different sorts of Farm Mechanization Loans are there.
Combine Harvester Loan is taken to buy a combine harvester & its accessories. The loan must be repaid in half-yearly installments. All the farmers who can run combine harvesters can apply and they should have 8 acres of irrigated land. Combine Harvester Loan is taken to purchase a combine harvester & its accessories. The credit must be reimbursed in half-yearly installments. All the farmers who can run combine harvesters can apply and they ought to have 8 acres of irrigated land
Drip Irrigation system Loans are essentially taken to purchase a drip irrigation framework. All agriculturists who have land and are included in rural activities can apply for the loan.
Dairy Loan can be taken by a milk producer co-operative society that is affiliated to the district milk union.
Poultry Loan can be taken by agriculturists for development of nourish rooms, poultry shed & other equipment.Fisheries Loan can be profited to buy fish net, fish seeds & other related equipment. All fishermen & farmers in pisciculture can apply for the loan