In India, farming is one of the major sources of income for the country's economy. Thus, the agricultural loans are given to the farmers to fund their seasonal agricultural operations or related activities such as animal farming, pisciculture, or to purchase land or agricultural tools. Such loans also assist them to purchase inputs like seeds, fertilizers, insecticides etc. and engage the labour for cultivating and harvesting the crops.
Besides, enabling the farmers to purchase land or agricultural tools, the loan also covers the cost of ploughing land for sowing, weeding, storage of produce and transport, and transplantation.
The following data consists of the list of documents required while applying for an agricultural loan:
Some of the leading banks offering agricultural loans are State Bank of India, National Bank for Agriculture and Rural Development (NABARD), Karur Vysya Bank, ICICI Bank, and IndusInd Bank.
