Which Banks Offer loans to farmers?
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Answer ( 1 )
Allahabad Bank Crop Loan and Term Loan – this bank has two schemes, namely the Akshay Krishi – Kisan Credit Card Scheme and Allahabad Bank Potato Growers Credit Card Scheme. The first scheme has a limit of Rs 10 lakhs and can be paid in 5 years time. The second scheme has a limit of Rs 20 lakhs.
Andhra Bank Agriculture Loans – this bank also has two schemes, namely the AB Kisan Sampathi (Crop Produce Loan) and the Kisan Kalpataru scheme. The limit on the first scheme is Rs 50 lakhs payable within a year and the second scheme provides a limit of Rs 25 lakhs payable within 9 years.
Canara Bank – Processing fee varies from no charges (loan up to Rs 25000/-) to Rs. 900/- (Loan up to Rs. 3 lakhs). Handling charges differ from nil to Rs. 100/-. Mortgage charges varies from no charges to Rs. 30000/-. No processing fees for government sponsored schemes, self-help groups or agriculture loans given to employees.
Central Bank of India – No fee for Kisan credit card and no collateral security for loan up to 1 lakhs.
HDFC Bank – Processing fee of Kisan Gold card (saral) is Rs 250/-, repayment schedule charges for the same are Rs 200/- per request, late payment penalty for KGC types varies from 1.33 % – 2 % p.m. on overdue payment. Supervision charges of KGC types ranges Rs. 500/- – Rs. 2000/-.
ICICI Bank Agri Term Loan – the loan is available @ 13.50% interest rate and can be paid over 3 – 4 years in easy installment options. Additionally Kisan Credit Card / Kisan Card is provided to farmers.
JK Bank – Processing fee is Rs. 0.05 % of the amount sanctioned with a minimum cap of Rs. 25/- to be paid up front.
Punjab National Bank Agricultural Schemes – have two schemes namely Scheme for Poultry Farming and Scheme for Financing Sheep / Goat Breeding / Rearing Activities.
Vijaya Bank – Processing fee ranges from nil (Rs.25000/-) to 0.16 % i.e. Rs. 102/- (Rs.25000/- to 2 lakhs).There is no processing fee for agriculture loan up to 10 lakhs and no documentation charges for credit limit up to Rs. 2 lakhs.