Financing Growth and Transforming Rural India.


Bank of Baroda, for rural India, with rural India.

Scheme for Financing Farm Development Activities

  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Fees And Charges
  • Most Important Terms & Conditions (MITC)

Scheme for Financing Farm Development Activities : Benefits

  • Margin Nil for limit up to Rs. 1 lakh
  • Processing charges Nil for Aggregate Loan upto Rs 3.00 Lakhs
  • Inspection charges Nil for Aggregate Loan upto Rs 3.00 Lakh
  • Minimum Loan amount: No minimum ceiling
  • Maximum Loan of Rs 2.00 Crores can be availed

Scheme for Financing Farm Development Activities : Features

Providing financial assistance for all farm development activities which results in enhanced income of the farmer.

Loan is provided for various activities as

  • Land Reclamation and Soil Improvement
  • On Farm Development Works
  • Soil and Water Conservation
  • Other indicative list of activities

Scheme for Financing Farm Development Activities : Eligibility Criteria

  • Individual farmers including Self Help Groups (SHGs) or Joint Liability Groups (JLGs) i.e, groups of individual farmers) and Proprietorship firms of farmers, directly engaged in Agriculture and Allied Activities
  • Landless agricultural labourers, tenant farmers, oral lessees and sharecroppers whose share of landholding is within the limits prescribed for Small and Marginal Farmers (lease holder should have lease for at least last 10 years)
  • Corporate farmers, Farmer Producer Organisations (FPOs)/(FPC) Companies of Individual Farmers, Partnership firms and Co-operatives of farmers engaged in Agriculture and Allied Activities

Scheme for Financing Farm Development Activities : Document Required

  • KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
  • Passport Size photo
  • Quotation/Invoice (if available)
  • Land Records
  • Project Report (if available)
  • IT Returns (if available)

Scheme for Financing Farm Development Activities : Fees And Charges

Pre-Payment Charges- Nil

Processing charges:

  • Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil
  • Above Rs 3 Lakhs - 1 % of the limit sanctioned with a maximum of Rs 100 lacs.

Inspection Charges:

  • Agriculture exposure upto Rs. 3.00 Lakhs- Nil
  • Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
  • Above Rs 10 Lakhs to Rs 1 Crore - Rs 1000
  • Above Rs 1 Crore - Rs 5000

Scheme for Financing Farm Development Activities : Most Important Terms & Conditions (MITC)

Age criteria (As on the date of application): Minimum: Age of applicant should be 21 Years & for co-applicant/s should be 18 years. Maximum: 70 years. However if applicant's age is more than 60 years, one of his/her legal heir aged between 21-50 years has to be made as co-applicant
Eligibility Criteria Minimum satisfactory Banking relationship of 6 months with our Bank
Nature of facility Demand Loan /Term Loan
Quantum of Loan Minimum: No minimum ceiling
Maximum: Rs 2.00 crores
Margin
  • Nil for aggregate loan up to Rs 1.00 Lakh
  • For aggregate loan above Rs 1.00 Lakh up to Rs 3.00 lakhs: 10%
  • For aggregate loan above Rs 1.00 Lakh up to Rs 3.00 lakhs: 10%
Rate of Interest
  • Limit upto Rs.3.00 Lakhs- One year MCLR+ SP
  • Limit above Rs.3.00 Lakhs less than Rs.25.00 Lakhs: One year MCLR+ SP+1.25%

Limit Rs.25 Lakhs and above: Ranges from One year MCLR+SP+2.00% to Five year MCLR+SP+2.65%

Maximum Repayment period (Excluding moratorium period):
  • Small & Marginal Farmers/SHG/JLG/FPO/FPC: Maximum -180- months
  • Others: Maximum -84- months
Moratorium/ Holiday period
  • Small & marginal farmer/SHG/JLG/FPO/FPC: Maximum of 23 months
  • Others: Maximum of 11 months
Pre-payment Charges Nil
Security

Upto Rs. 1.60 Lakhs:

  • Hypothecation of crops / produces / assets created out of Bank's finance.

Above Rs.1.60 Lakhs:

  • Above Rs.1.60 Lakhs:
  • Mortgage/Lien/Charge on Land and /or EM on any immovable properties.
  • Third party guarantee (if available)

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