Am I eligible for an agricultural loan?
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I own some land, and I would like to apply for a loan on my agricultural land to support my further studies. But I am not into farming. Is it possible for me to obtain an agricultural loan? agricultural loan? Is there a bank that can provide a loan to me?
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Yes, you are eligible for an agricultural loan on your land. There are many banks that can give you an agricultural loan at good interest rates.
- SBI:
- Interest rates for the loan start at 9.75% per annum.
- It offers you a loan on crops; with the help of the Kisan Credit Card scheme, farmers can easily get the loan.
- ICICI Bank:
- Interest Rate: The loan is available at an interest rate of 10.50% per annum.
- The bank offers loans for land, agricultural pursuits, and various other purposes.
- National Bank for Agriculture and Rural Development (NABARD):
- Interest Rates: 7% - 16.05% p.a.
- There are various government-funded schemes that primarily focus on rural development.
- Punjab National Bank:
- Interest Rate: This loan offers a 7% annual interest rate.
- Have the facility of KCC crop loans.