Agricultural loans are availed by a farmer to fund seasonal agricultural operations or related activities like animal farming, purchase of land or agricultural tools; A form of credit that can be secured as a personal loan by the borrower. Agriwise provides these Agri loans to farmers with commercial or residential properties as collateral and the tenure lasts up to 8 years. It is a Secured term loan with the primary purpose of business development and expansion. However, this loan can also be taken for the purpose of educating a child, marriage or any other personal reasons. The rate of interest on the loan is determined keeping several factors in mind such as loan amount, tenure, credit score, income, existing EMIs etc.
The benefits of this product offering include:
- Financial assistance for Land development & reclamation, Soil conservation measures and on farm development works like Land levelling, terracing, contouring, bundling, fencing etc.
- Term Loans are extended for construction of wells, for deepening/renovating the existing wells and for boring in the existing dug wells to augment water supply.
- Financing for purchase of machinery/implements like Tractors, Power Tillers, seed drill, seed-cum-fertilizer drill, planters, power sprayers, seed cleaners, weed removers, power threshers, chaff cutters, cane crushers, harvester combines etc.
- Term loans for cultivation of Coconut, Coffee, Tea and Rubber plantations, Floriculture, Vegetable and Fruit cultivation etc.
- Credit facilities extended for activities related to dairy, cotton etc.