Farmers can get up to Rs 3 lakh at zero interest rate

Farmers can get up to Rs 3 lakh at zero interest rate,

 

 

Farmers’ agricultural activities are available at zero interest rates upto Rs. Yes, farmers can get loans at zero interest rates through Primary Agricultural Cooperative Society, Picard Bank or District Cooperative Central Bank.

 

The government has relaxed some of the conditions for loans offered at primary interest rate co-operatives with zero interest rate and discounted interest rates. Yes, farmers had to face a lot of problems when they had to borrow at zero interest rates. The government has loosened some of the conditions to address the issue of farmers.

 

Previously, a loan of up to Rs. This clause has now been relaxed. Now instead of one family, one person in the family can be loaned up to Rs 3 lakh.

Interest subsidy applies only to loans received from farmers’ associations if they have separate land within the jurisdiction of the two associations, or if the land and dwelling are under different guilds. Now this clause is relaxed and only two conglomerates can get discounted interest rates in one association.

 

 

 

Farmers can get loans at Primary Agricultural Cooperative Society, Picard Bank or District Co-operative Central Bank. The bank will provide loans up to Rs. Short term crop loan for agricultural activities up to Rs. 3 lakhs. Similarly, loans for livestock and fisheries up to Rs. 2 lakhs will be given at zero interest rates.

 

 

 

What are the eligibility requirements for a loan at zero interest rate

Farmers must have membership in Primary Agricultural Cooperative Society, Picard Bank or District Co-operative Central Bank in order to borrow at zero interest rate. Farmers should apply for associations in prescribed forms along with Pahini and Aadhaar card documents. Farmers should not have taken loans from banks other than Pahini. The farmer’s dwelling-house or land-holder’s association should be borrowed only in the jurisdiction of any of these three.

Farmers in one district or taluka’s hobli cannot get zero interest rates in another district. Especially farmers should be members of the association.

 

 

 

What activities will be loaned to farmers

Loans can only be made to farmers for agricultural activities through the Primary Agricultural Cooperative Society, Picard Bank or Co-operative Central Bank.Credit for agriculture, animal husbandry, fisheries, silk, beekeeping, poultry, etc.

 

 

 

Medium Term Loan

10 lakh for Tractor, Tiller, Spinkler, Dairying Unit with agricultural activities. 3 Interest rate medium term. Money is transferred directly to the borrower’s account. This loan does not apply to other activities other than agriculture, including vehicle purchases, home purchases, plot purchases.

 

There is no interest on the loan obtained if the bank repaid the loan. Interest on the loan will be charged after it expires.

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