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Agriculture Term Loan

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Agri Term Loans

For Capital Investment in Agriculture Sector

Purpose

  • Raising of plantation crops / Long Duration Crops
  • Minor Irrigation development
  • Land Development & Soil conservation
  • Investment in animal husbandry activities like Dairy, Poultry, piggery
  • Purchase of farm machinery such as tractor, power Tiller, Other Farm machineries
  • Purchase of farm land / agricultural land and development thereon
  • Hi-Tech Farming like, Green House/Precision Farming, etc
  • Setting up establishment of Agricultural Nurseries

Eligibility

  • All Farmers - Individual/ Joint Borrowers who are own cultivators / agriculture entrepreneurs
  • Borrower should have knowledge/experience in the activity and should be capable of carrying out the activity successfully
  • Available across all MGB branches

Limit & Margin

  • Limit
  • Any amount as per project / Unit cost as per scheme norms
  • Margin
  • 5 - 20 % of project cost depending upon schemes

Security

  • Upto Rs. 1.6 lakh
  • Hypothecation of crops/animals/birds/farm assets
  • Above Rs. 1.6 lakh
  • Hypothecation of crops/animals/birds/farm assets
  • Equitable mortgage of landed property valued 150% of loan amount

Repayment

  • Repayment period and repayment holiday varies with gestation period & income generation from the activity undertaken.
  • In 5 to 10 Years in monthly/Half yearly/ Yearly instalments

Interest Rates & Charges

  • Please visit Loan Interest Rates page for details
  • For Loan interest rates click here

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