Hello StartupCrow reader, today we will discuss about HDFC Bank Loan Against Agricultural Land‘
HDFC Bank Limited is an Indian Banking and Financial Services Company, it is one of the leading commercial banks of India and is the no. 1 private bank of India according to Revenue, it provides a lot of banking facility such as; Saving Account Current Account, Loan Insurances, such a lot of facilities.
And this bank provides loan profiles according to the customers engaged in agricultural loans, agricultural crops, gardening, plantation, poultry, agricultural crops, dairy, seeds, warehouses, etc.
Because of the HDFC bank farmers and farmers To meet the needs, its rural presence is expanding and under this, the bank is given a loan on the land of farming, which can cultivate well with farmers’ and can take good yield.
In this article, I will explain in detail about the HDFC Bank Loan Against Agricultural land.
What is a Loan Against Agricultural Land?
If a farmer has a piece of land in his name, which can be used as collateral to get a bank or financial institution loan. When a borrower holds agricultural land for money, it is called a “loan against the agricultural loan” or “agricultural loan”.
Features of Loan On Agricultural Land
Here is the following Features of Loan On Agricultural Land –
- Loans on agricultural land are specially designed for those who cultivate like farmers, gardeners.
- It can not afford businessmen or professionals.
- Generally, the farmer does not have to provide income tax returns to apply for such loans.
- A minimum document is required for this.
- Loan tenure with many banks is up to 20 years.
- There is no charge on the agricultural loan.
- The lender usually prepares a flexible repayment plan while considering the status of the farmer.
- The time of change is fast and the bank is sensitive to the harvest season.
- The borrower can use funds for agricultural purposes such as food processing, buying agricultural equipment, dairy units/fisheries
- Follow / rice mills or for subtle irrigation.
- They can use funds to establish greenhouse, cold storage, or horticultural centers.
- Buying agricultural insurance to protect the loss of the crop.
- You can use funds to buy livestock or cover your marketing and operational expenses.
Eligibility Criteria for Loan Against Agricultural Land
There are some Eligibility Criteria for Loan Against Agricultural Land which are given below-
- Farmers, dairy owners, horticulture specialists and any garden owners are eligible to apply for agricultural loans.
- Most lenders prefer the applicant’s age at the age of 24 to 65 years. However, there are some banks who provide loans to applicants whose age is 18 years. Eligibility varies from one bank to another.
- If the land is owned by two people, co-applicant is mandatory.
- Agricultural land is kept as collateral. The borrower should have a clear title of the land to be eligible to apply for loans against agricultural land.
Documents Required for Loan Against Agricultural Land
You have to required some important Documents for Loan Against Agricultural Land-
- Full filled application
- Current 3 passport-size photo of the applicant.
- Identity card (Aadhar Card, Voter Card, Pan Card, Passport)
- Residence certificate (Aadhar card, voter card, passport)
- Income certificate (certified by revenue officer)
- Land document certificate
How to Apply to Take a Loan on Agricultural Land
If you want to apply online for SBI Bank Tractor Loans, you can apply online for it from the bank’s official website.
Apply Now :- Click Here
hdfc agriculture loan interest rate 2021 Click Here
HDFC Bank provides the following schemes and loans to the farmers
Crop Loan: – Crop loan is provided to develop a commercial gardening to farmers, developing gardens and plantations.
Retail Agricultural Loan – Farmer Card / Farmer Gold Card provides loans for farmers up to 84 months. Documentation is easy and approval is done quickly. The card can be used to buy agricultural equipment and fulfill other agricultural expenses.
Loan for Warehouse: – If a farmer wants to make a warehouse to keep the stock, then he can take a loan from the bank.
How much loan can I get on agricultural land?
Short term agricultural loan upto Rs. 3.00 Lakhs, medium and long term agricultural loans upto Rs. 10.00 lakhs are available at concessional rate through Cooperative institutions . he can also get the loans above these limits at normal interest rate.
What are the types of agriculture loans from HDFC Bank?
Kisan Gold Card – Agri Loan. Apply Now Know More.
Small Agri-business Loan. Apply Now Know More.
Pledge Loan – Warehousing Receipt. Apply Now Know More.
Kisan Shakti Loan. Apply Now Know More.
Tractor Loan. Apply Now Know More.
KGC Shaurya. Apply Now Know More.
Allied Activities Loans.
Which bank is best for agriculture loan?
When it comes to financing related to agriculture, State Bank of India (SBI) is a market leader. It has a wide network of branches spread across the country and provides funding facility to about 1.01 million farmers. SBI provides a full range of services to facilitate agriculture and allied activities.
How can I get agriculture loan from SBI?
1# Application form, duly filled.
2# 2 passport size photos of the APPLICANT.
3# ID proof – PAN Card, Voter ID, Aadhaar Card, Passport, or Driving License.
4# Address proof – Voter ID, Aadhaar Card, Passport, or Driving License.
5# Proof of agricultural crops or land.