Farmers in India can avail various agricultural loans for crop cultivation, purchasing equipment, or setting up agribusinesses. Below is a detailed overview of available loans, interest rates, and required documents.
| Loan Type | Description | Interest Rate | Documents Required |
|---|---|---|---|
| Crop Loan | Short-term loan for purchasing seeds, fertilizers, pesticides. | 4% - 7% (with subsidy) | Aadhar Card, Land Documents, Bank Statement, KCC |
| Tractor Loan | Loan for purchasing tractors and farm machinery. | 8% - 12% | Aadhar Card, PAN, Land Records, Income Proof |
| Farm Equipment Loan | Loan for irrigation pumps, harvesters, and other farm equipment. | 7% - 10% | Aadhar Card, Land Records, Quotation of Equipment |
| Dairy Loan | Loan for dairy farming, purchasing cows/buffaloes. | 6% - 9% | Aadhar Card, Bank Statement, Livestock Purchase Plan |
| Bank | Crop Loan Interest Rate | Tractor Loan Interest Rate | Farm Equipment Loan Interest Rate | Dairy Loan Interest Rate |
|---|---|---|---|---|
| HDFC | 5% | 9% | 8% | 7% |
| SBI | 4% | 8.5% | 7.5% | 6.5% |
| SK FINANCE | 6% | 10% | 9% | 8% |
| ICICI | 4.5% | 8.8% | 7.8% | 6.8% |
Farmers can apply for loans through banks, cooperative societies, or online portals like PM Kisan Samman Nidhi and NABARD.
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