India is a agricultural dominated country. Almost, 75 to 80% Indians depend upon agricultural activity for their livelihood. Also, most of our organisational sector depends upon agricultural product for their raw materials.
So we can’t ignore the contribution of farmers to our economy and development. For keeping this in mind the government trying to help farmers. Also, the government providing so many schemes for farmers like Pradhan Mantri Kisan Maandhan Yojana, Sukanya Samriddhi Yojana, Loans, Subsidy of Agricultural equipment, and many more.
But here is something special for you. Are you a farmer or belong to a farmer family? Do you need money for different important works like daughter marriage, home construction, buying some plots or agricultural land, submitting your child’s education fee, etc?
If you belong to a farmer family and need some kind of financial help. Then I am going to tell you the complete process of taking an agricultural loan for your requirement. Actually similar to other businesses, farmers also can take loans for fulfilling their requirements.
Our government is supporting them in many ways. There are so many loan schemes for farmers in India. If you fulfill your eligibility for taking an agricultural loan you can check this out.
Eligibility For Taking Agricultural Loan
If someone blocked your farmers family then he should take agricultural loan if he fulfill below requirements.
- Candidate should be Indian citizen.
- Person should have registered agricultural land.
- Individual age should be minimum 18 year to Max 75 years.
Loan Schemes For Farmers
New elected Indian government trying to support farmers in many ways. They are providing pm Kisan Samman Nidhi to farmers for their agriculture purpose. Farmers can use this money for buying new seeds, pesticides, agricultural equipment, or Urea, and other nutritional supplements for their crops.
But sometimes Kisan needs more money for fulfilling their present requirement like money for girls’ daughter marriage, money for buying a new plot, money for making a new home, etc.
In this case Kisan can apply for agricultural loan. I am telling some basic loan scheme for farmers in detail. Let’s see:
Kisan Credit Card
Kisan credit card is a 5-year loan scheme. In this scheme, Bank provides agricultural loans to the farmers for 5 years time period. Actually, this Kisan credit card is valid for 5 years and after 5 years you can renew it.
Suppose you need money for some special purpose. You go to the bank to apply for a Kisan credit card. After approval, you can withdraw all money. Do your required work. When you receive money from selling your crop in the market. You can deposit that money in your bank.
Suppose next year you required money for another purpose then you can withdrawal money again from the bank. This process can be e done for 5 years without any interaction. After 5 years you can renew your card for taking this service for another five years.
Kisan Vikas Patra
Kisan Vikas Patra is a process of multiplying farmers’ savings for their future. As we know farmers can’t arrange so much money e at a time like money for marriage, money for making homes, etc.
In this situation, Kisan can apply for Kisan Vikas Patra. Kisan Vikas Patra provides 9 to 11% interest in farmer saving. This saving is completely tax-free. Your money will be double in almost 728 years.
Kisan Vikas Patra can be applied from any post office or government bank.
PM Kisan Loan
Pm Kisan loan scheme started in 2020 by PM Narendra Modi. India’s PM Narendra Modi is the greatest prime minister of India that works for farmers and people honesty. Pm Kisan loan scheme is an equal process to get a loan from the bank.
Actually in old-time taking a loan or taking an agricultural loan was very e difficult process. Sometimes who are farmers and some uneducated farmers were unavailable to take loans from the bank?
They have to go for middlemen like agents and other people who take Commission. But now with this pm Kisan, loan scheme Kisan can get the agricultural loan directly to their bank account without any e agent. It by just filling an application form.
So these were some loan scheme for farmers. If you fulfill all requirement and want to take loan from the bank. Then go through this process it will help you to you done your work that was pending because of money.