• Financing Irrigation

Empowering farmers to enhance their farm productivity.

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

Financing Irrigation

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

Financing Irrigation : Benefits

  • Nil Margin for Aggregate loan up to Rs. 1 lakh
  • Nil Processing charges for Aggregate loan upto Rs 3.00 Lakhs
  • Nil Inspection charges for Aggregate loan upto Rs 3.00 Lakh
  • Provides Long term repayment option.

Financing Irrigation : Features

Provides financial assistance for different type of structures for the purpose of irrigation.

Financing Irrigation : Eligibility Criteria

All persons engaged in cultivation of crops as owners of land or permanent tenants or lease-holders (for a reasonably long period).

Financing Irrigation : 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)

Financing Irrigation : Fees & Charges

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

Financing Irrigation : Most Important Terms and Conditions (MITC)

Repayment Period Maximum period 9 years depending upon purpose of investment and economic life of asset.
Security
Up to the cost of economic unit (wherever applicable) or Rs. 1.60 Lakhs whichever is lower D.P. Note Hypo. of Assets
For loans above Rs.1.60 lakh D.P. Note
- Hypo. of assets.
- Mortgage of land or 3rd party Guarantee.
Rate of Interest
Limit upto Rs.3 Lakhs One year MCLR+ SP
Limit above Rs.3 Lakhs and < Rs.25 Lakhs One year MCLR+ SP+1.25%
Limit Rs.25 Lakhs and above
3 years & above and upto 5 One year MCLR+ SP+2.10%
Above 5 years and upto 7 years One year MCLR+ SP+2.15%
Margin
  • Loan limit up to Rs. 100,000/-: Nil
  • Loan limit above Rs. 100,000/- : 15%
Other Informations
  • Borrower should produce a feasibility certificate in respect of tubewell from the appropriate authority.
  • In case of river lift irrigation project, permission from Collector / appropriate authority should be obtained.
  • Borrower should give an undertaking to buy equipment with BIS specifications.
  • Digging of wells will be financed only in areas characterized by Groundwater Directorate suitable for irrigation.
  • Deepening of wells will be financed only in areas demarcated by the State Groundwater Directorate as suitable for deepening.

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