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Agriculture Loan

Agri Term Loan

Purpose
  • Purchase of farm implements
  • Purchase of Tractor/ Power Tiller
  • Land development
  • Irrigation projects etc.,
Eligibility
  • Individual Farmer/ Group of farmers with adequate skill and knowledge to carry out the proposed activity
Eligible Amount
  • Need based - Max. of ₹50.00 lakhs
  • Land development & Irrigation Projects - Max. of ₹200.00 lakhs
Rate of Interest
Margin
  • Upto ₹1,00,000/- - NIL
  • Above ₹1,00,000/- - 10 % -25 % based on the activity
Security
  • Upto ₹1,60,000/- - Hypothecation of assets created out of loan
  • Above ₹1,60,000/- - Collateral security by way of Mortgage
Repayment Period
  • Maximum - 7 years
  • Land development & Irrigation Projects – Repayment in 9-12 years including Holiday Period
Processing Charges
  • 0.60% of loan limit
How to apply
  • Please contact nearest Tamil Nadu Grama Bank’s Branch for more details