Program brief
| Form of support | Cash, paid into the bank account |
|---|---|
| Meant for | Farmers |
| Level | State, Tamil Nadu |
| Field | Banking,Financial Services and Insurance |
| How to apply | Offline |
Contents of this entry
Overview
The scheme offers loans to farmers covering up to 90% of the cost of a power tiller, with an interest rate between 11% and 12.25%.
The "Primary Cooperative Agriculture and Rural Development Bank: Power Tiller" scheme launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, aims to provide financial assistance to farmers for purchasing a power tiller, with up to 90% of the cost covered through a loan. This initiative aims to support agricultural productivity by making essential farming equipment more accessible. The interest rate on the loan ranges from 11% to 12.25%.
Further facts from the listing
| Scheme for | Individual |
|---|---|
| DBT (direct bank transfer) | No |
Benefits
- Access to Loan: Up to 90% of the cost of a power tiller.
- Interest Rate: 11% to 12.25% (subject to change).
Eligibility
- Age
- 18 to 55 years
- State
- Tamil Nadu
- The beneficiary should be a resident of Tamil Nadu.
- The beneficiary should be a farmer.
- The beneficiary should be engaged in agricultural activities.
- The beneficiary should be interested in availing of a loan for purchasing power tiller.
- The beneficiary should have the intention to use the loan specifically for purchasing power tiller.
Who cannot apply
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Documents
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Application steps
Offline
Step 1: The interested applicant should collect the application form by contacting the Secretary/ Special Officer of the Primary Cooperative Agriculture and Rural Development Bank.
Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
Step 3: Submit the duly filled and signed application form along with the documents to the concerned authority.
Step 4: Request a receipt or acknowledgment from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
Questions and answers
What is the objective of this scheme?
The scheme offers loans to farmers covering up to 90% of the cost of a power tiller, with an interest rate between 11% and 12.25%.
Who is eligible for this scheme?
Farmers engaged in agricultural activities are eligible for this loan.
What is the purpose of this loan?
The loan is intended specifically for purchasing a power tiller to assist in farming activities.
What percentage of the power tiller’s cost is covered by the loan?
The loan covers up to 90% of the cost of a power tiller.
What is the interest rate on this loan?
The interest rate on the loan ranges from 11% to 12.25%.
Is the interest rate fixed or subject to change?
The interest rate is subject to change, depending on bank policies.
What documents are required to apply for the loan?
Required documents include proof of identity, proof of address, proof of farming etc.
Is there an age limit for eligibility under this scheme?
There is no specific age limit mentioned for eligibility.
Can applicants apply for this loan online?
Currently, applications must be submitted in person at a Primary Cooperative Agriculture and Rural Development Bank branch.
What is the repayment period for the loan?
The bank will specify the repayment period upon loan approval.
Official portal and guidelines
Applications are submitted only on the provider's own portal. jsrr.in does not accept forms, documents or fees.
jsrr.in is an independent index, not a funding agency or a government body. The provider's official call is final: confirm every condition, amount and date there, and do not pay anyone who offers to apply for you.
This entry reproduces the official listing and has not yet been rewritten or reviewed by our team. Read the official call before you apply.
Filed under
- StateTamil Nadu240
- FieldBanking,Financial Services and Insurance333
- Eligible groupFarmers373
- AgencyCo-operation, Food and Consumer Protection Department26
- OccupationFarmer356
- LevelState4048
- Award typeCash2722
- KeywordAgriculture And Rural Development Bank6
- KeywordFarmer360
- KeywordFarming Equipment
- KeywordLoan252
- KeywordPower Tiller2
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