Frequently Asked Questions (FAQs)
Who can apply for an agriculture loan?
Farmers, landowners, tenant farmers, and agribusiness owners can apply. If you’re involved in agriculture in any way, there’s a good chance you qualify.
What can I use the loan for?
Agriculture loans can help with things like:
- Buying seeds, fertilizers, and pesticides
- Purchasing farm equipment like tractors and irrigation systems
- Expanding dairy or livestock farms
- Building storage units or greenhouses
What is the age requirement to apply?
You must be between 18 and 65 years old to apply. If you're older, a co-applicant (like a family member) may be required.
What documents do I need?
You'll typically need:
- Identity proof (Aadhaar, PAN, or Voter ID)
- Address proof (Utility bill, ration card, or property papers)
- Land ownership documents (Title deed or lease papers)
- Bank statements (Last 6-12 months)
- Income proof (Sales receipts or farm income records)
How much loan can I get?
The loan amount depends on:
- Your farming needs
- The size of your land
- Your repayment capacity
Each bank has different limits, so it’s best to check with them directly.
What are the interest rates?
Interest rates start at around 7%, but they vary from bank to bank. Government subsidies may lower your interest rate further.
Can I repay the loan after the harvest season?
Yes! Many banks offer seasonal repayment plans, so you can pay when your crops are sold.
Do I need to provide collateral?
If you’re taking a small loan (usually up to ₹1.6 lakh), you may not need collateral. Larger loans may require land, gold, or other assets as security.
How do I apply?
You can apply online through bank websites or visit a branch in person. Make sure you have all your documents ready to speed up the process.
Are there government subsidies for farmers?
Yes! Government schemes like PM Kisan, NABARD, and state-specific subsidies can help lower your loan costs. Ask your bank about available programs.
