Agriculture

State-specific schemes for farmers

Andaman and Nicobar

Agricultural Credit

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<div id="MiddleColumn_internal">
<h3>What to Do?</h3>
<ul>
<li>To save themselves from the clutches of money lenders, farmers can avail loan facility from banks.</li>
<li>Loan facility is available through a large network of Commercial Banks, Regional Rural Banks and Cooperative Credit Institutions in the country to fulfill the crop loan and term loan needs of the farmers.</li>
<li>Ensure timely repayment of bank loan.</li>
<li>Proper record of loan should be maintained by farmer.</li>
<li>Utilize the bank loan for actual purpose for which bank loan is taken.</li>
</ul>
<h3>What Can You Get?</h3>
<table class="grid listing">
<colgroup><col width="64"></col> <col width="222"></col> <col width="240"></col> </colgroup> 
<tbody>
<tr>
<td align="left" height="17" width="64"><b>S.No</b></td>
<td align="left" width="222"><b>Credit facility</b></td>
<td align="left" class="xl24" width="240"><b>Quantum of   assistance.</b></td>
</tr>
<tr>
<td class="xl25" height="170">1</td>
<td align="left" class="xl24" width="222">Kisan Credit Card</td>
<td align="left" class="xl24" width="240">Farmers can avail   crop loan through Kisan Credit Card. Loan /credit limit is decided on the basis of crop sown on cultivated land by the farmers and Kisan Credit Cards are valid for 3-5 years. Farmers are also provided cover of Rs.50,000/- maximum for accidental death.</td>
</tr>
<tr>
<td class="xl25" height="136">
<p>2</p>
<p> </p>
<p> </p>
<p> </p>
<p>3</p>
</td>
<td align="left" class="xl24" width="222">
<p>Investment Loan</p>
<p> </p>
<p> </p>
<p> </p>
<p>Interest Assistance</p>
</td>
<td align="left" class="xl24" width="240">
<p>Loan facility to the   farmers is available for investment purposes in the areas viz. Irrigation, Agricultural Mechanization, Land Development, Plantation, Horticulture and Post Harvest Management.</p>
<div>Collateral/ security-free loan</div>
<div>Crop  loan  upto  Rs.3  lakhs  at  7%  rate  of  interest.  This  interest  rate</div>
<div>becomes 4% due to 3% interest subvention incentives provided to</div>
<div>those farmers who repay crop loan on time</div>
<div>No need of collateral security for farm loan up to Rs.1.6 lakh</div>
</td>
</tr>
</tbody>
</table>
<h3>Whom/Where to Contact?</h3>
<p>Nearest Commercial Banks, Regional rural Banks and Cooperative Banks / Co-Operative Credit Societies.</p>
<p><b>Source:</b><i> <a class="external-link ext-link-icon" href="http://agri.and.nic.in/" target="_blank" title="farmer.gov.in (External website that opens in new window)">Department of Agriculture </a></i></p>
</div>

/agriculture/state-specific-schemes-for-farmers/andaman-and-nicobar/agricultural-credit