Agriculture loan

Agriculturists and farmers can increase their productivity and earn better with BoB’s Agriculture Loan. Use it to purchase farm equipment, tractor, power tiller, seeds or for any agricultural activity. This loan can also be availed for horticulture, aquaculture, animal husbandry etc.

Eligibility

Persons engaged in agricultural activity and who own agriculture land.

Quantum

75% of the project Cost

Interest Rate

8.49% ( Floating ), 10.18% ( 5 Years Reset ) and 11.00% ( Fixed rate ) Agriculture Working Capital – 11% p.a

Tenure

15 years maximum

Required Documents

  • Citizenship Identity (CID) copy of both the applicant and the guarantor if the loan is also secured by Third Party Guarantor

  • One recent Passport size photograph of the applicant

  • Ownership certificate and the valuation certificate of the property(s) like land and building where collateral is provided

  • For Chirup, NOC from immediate family members (18 years and above) to avail the loan

  • Land valuation shall be calculated as per the BoBL rates

  • Building valuation to be done by a qualified engineer and the same will be reviewed by Bank’s engineer

  • Assured repayment source to be ascertained through BIT paid, average rental income (Rental Receipts)

  • Copy of the Quotation/Invoice for tractor, power tiller or any other farm machinery from authorized dealers