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Farm Development Term Loan

This term loan facility is designed to meet the farm development and investment needs for agriculture purpose. This facility can be availed for the farm activities including land development, levelling, fencing, irrigation solutions (such as minor and drip irrigation, bore well digging), farm shed, farm pond etc.

Product Features 

  • Farmer’s Age - 18-75 years (Co- borrower required for applicants over 60 years)
  • Loan Tenure- Up to 7 years (with a moratorium period ranging from 6 to 24 months)
  • Eligibility- Minimum own land holding of 1 Acre.
  • Crop loan is mandatory along with Term loan.

Other important details

Lending Rates

Loans linked to REPO Rate

  • Rate of interest will be linked to Prevailing Repo Rate.
  • Customer rate/ pricing (ROI) shall be repo rate + spread.
  • Repo rate reset frequency- every 25th day of last month of each quarter.
  • The bank will publish the Repo Rate periodically on the bank’s website.

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