Housing Development Finance Corporation (HDFC), the largest private sector Bank of India, offers one of the important products - HDFC Agriculture loan, which aims at giving various farming solutions to the farmers of our country.
The bank gives support for various agricultural activities like farming, cash crops, plantations, poultry, dairying, seeds, warehousing, etc. You can get various types of agriculture loans under one roof at competitive interest rates.
Types of HDFC Agriculture Loan
1. HDFC Crop Loan
The purpose of the crop loan is to develop commercial horticulture, establishment orchards and plantations along with growth of field crops. You can receive the funds for your term loan once the project feasibility study is complete.
Farmers with agricultural Land, whether owned or in Lease are is eligible to apply for the HDFC crop loan.
2. Retail Agri Loans- Kisan Gold Card
The Kisan Gold Card finances a specified sum of money for the farming requirements such as - the production of the crop, post-harvest, repair & maintenance and consumption needs of the farmer. Other than this, funding is also done for the purchase of farm machinery, irrigation equipment and construction of storage structures, etc.
Types of Facilities
Cash credit and overdraft Facility is offered to meet crop production cost and expenses towards consumption, post-harvest expenses and repair & maintenance
A term loan is given for the investment purpose like land development, purchase of farm implement, irrigation equipment., etc.
The bank offers loan quantum based on the land under cultivation, cropping pattern and scale of finance.
Kisan Gold Card Interest Rate 2023
The Kisan Gold Card offers an interest rate starting from 9% p.a.
A farmer who owns agricultural land and is actively cultivating crops
3. HDFC Small Agri-Business Loan
HDFC bank provides working Capital for Agri traders, arathiyas, food processing firms and Agri exporters. The scheme is specifically designed for the Agri-business requirement and aims to provide them with credit in the quickest way possible.
Features of Small Agri-Business Loan
Under this scheme, one can get funding to individuals, sole proprietorship firms, partnership firms, Pvt Ltd companies, limited companies, etc
You can get tenor of 12 months with annual renewal
The loan offers secured scheme depending upon your needs and eligibility
This loan comes with attractive interest rates
You can get access for various facilities such as net banking, mobile banking and phone banking. The bank also offers multi-location banking
A farmer can get the facility of day-to-day expenses that includes fund and non fund based cash credit, overdraft, term loan, bank guarantee and letter of credit
The business should be 5 years old and should have a minimum of 3 years on the same location
net-worth and profit after tax should have a good record at least 2 out of 3 financial years
Account behaviour will be judged on the Basis of cheque returns, over-drawings and utilization of limits
Benefits of Agri-Business Loan
The bank offers faster loan approval and disbursal, along with quick and easy documentation process right at your doorstep
The loans offer competitive rates and charges
One of the other benefits of availing loan with HDFC bank is that it gives complete transacery of the process. There are no hidden charges and you will receive updates on your loan application at every step
Application form with KYC (including Partnership Deed/MOA & AOA/COI)
Kisan Credit Card provides loans to the farmers at a reasonable rate. The scheme is launched by the Government of India in association with Reserve Bank of India (RBI) and National Bank for Agriculture and Rural Development to render relief to the farmers.
Kisan Credit Card Features
It is valid for five years
It should be renewed annually
The scheme provide the credit period of 12 months
Repayment can be done after the harvest and sale of the crops
The card holders can also get the coverage for failed crop season following natural calamities or pest attacks
HDFC Agriculture Customer Care
In case of any queries, you can contact HDFC customer care executives by dialing the following toll free number - 1800 258 3838
Disclaimer: All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
Mutual fund investments are subject to market risks. Please read the scheme information and other related documents carefully before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing a fund, or designing a portfolio that suits your needs.
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