Agriculturists and farmers can increase their productivity and earn better with BoB’s Agriculture Loan. This loan can also be availed for farm equipment, tractor, power tiller, seeds or for any agricultural activity.
ELIGIBILITY
Persons engaged in agricultural activity.
QUANTUM
60-75% of the project Cost
INTEREST RATE
CLICK HERE to view the Floating/Prevailing interest rate.
TENURE
Maximum of 15 years
CHECKLIST (FOR DOWNLOAD IN PDF)
- Application form duly filled by the applicant and signed on all the pages
- Copy of valid Citizenship Identity (CID) of both the applicant and the guarantor as applicable.
- One recent Pass Port size photograph of the applicant.
- Ownership certificate(s) of the collateral security offered to bank.
- Consent letter from the joint owner or co-owner if the collateral provided is in joint and co-ownership.
- A copy of family tree – For family owned land, family (household) register issued by Department of Civil Registration and Census, MoHCA and a copy of NOC letter from family members (18 years and above (if applicable).
- CID COPIES OF WITNESS, INCASE OF TPG PROPERTY FOR FAMILY AND JOINT PROPERTIES, THE FAMILIY MEMBERS TO COME TO BANK AND SIGN, OR TO BE VERIFIED BY GUP
- Project report containing detail cost of the project and time schedule for fruiting & income generation.
- Approved drawing plan of the Project and a copy of approval letter for construction from the concerned authority.
- Approval and NOCs from the concerned authorities relevant to the project proposed.
- Lease agreement to be submitted (if applicable).
- Assured repayment source to be ascertained through BIT, average rental income (Rental Receipts/statement).
- Copy of the quotation/invoice for tractor, power tiller or any other farm machinery dealers.The prevailing rate of interest on Savings Deposit Account is 5% per annum, calculated on daily product basis.
- No upper limit on account balance.
- The interest would be paid irrespective of number of withdrawals.