Federal Bank Agriculture Loan
Federal Bank offers Agri Allied Loans i.e. Animal Husbandry Loans, Dairy Loans, and Poultry Loans. Farmers can avail of the loan amount up to 100 percent on the cost of the asset or project cost.
In respect to this, can I get Mudra loan for poultry farming?
Mudra Loan Eligibility
Such activities include launching, establishment, or expansion of an agriculture business like a poultry farm, an apiary, a livestock farm, and a dairy farm.
Simply so, how can I get nabard subsidy?
In order to get a loan, the animal owner will have to visit a nationalized bank or a nearby animal centre and get a subsidy form under NABARD. After that, after filling the form, the veterinarian will have to visit the bank and submit his form by attaching it with the necessary documents.
How can I get subsidy in poultry farming?
Effective bank loan for the poultry farm subsidy is minimum 40% of the outlay. Bank loan must be obtained for at least of minimum 40% from the total project cost to avail subsidy. For example consider the total project amount is Rs. 10 lakhs, and then the bank loan component should be at least Rs.
Guidelines For Starting Poultry Farming Project
- The Sector: This involves the niches in the poultry industry in India that produce broilers and layers, poultry feed, chicken breeding, egg and meat processing.
- The Birds: Choose from the two types – broilers (meat production) and layers (egg production).
How to calculate interest rate
- Step 1: To calculate your interest rate, you need to know the interest formula I/Pt = r to get your rate. …
- I = Interest amount paid in a specific time period (month, year etc.)
- P = Principle amount (the money before interest)
- t = Time period involved.
- r = Interest rate in decimal.
DBT will be given at the rate of Rs 4,000 per acre per season for cropping while zero interest loan will be at the rate of Rs 50,000 per hectare to be capped at Rs 1 lakh per farmer, sources told BusinessToday.In. The crop loan is already offered to farmers at a subsidised rate of 4 per cent only.
1. The government gives subsidy up to 25% for poultry farming. 2. For SC / ST class people, this subsidy is up to 35 percent.
Long Term Loans
NABARD provides Long Term and Medium Term Refinance to banks for providing adequate credit to farmers and rural artisans etc. for their investment activities. It is intended to create income-generating assets in the following sectors: Agriculture and allied activities.
|Interest Rate||7.30% p.a. onwards|
|Loan Amount||Up to Rs.10 lakh|
|Loan Tenure||Up to 7 years|
|Processing Fee||Subject to the lender|
Compare Best Agriculture Loan Interest Rates in India
|Name of the Bank||Interest Rate|
|ICICI Bank (Agri Term Loan)||10.00% – 15.33% p.a.|
|Central Bank of India (Cent Kisan Tatkal Scheme)||8.70% p.a. onwards|
|IndusInd Bank (Crop Loan)||10.15% – 14.75% p.a.|
|HDFC Bank (Retail Agri Loans)||9.10% – 20.00% p.a.|
Taking the weight of poultry birds, averagely 1 kg, you can earn about 10,000 (birds) X Rs. 100 (lowest meat rate in the market) = Rs 10,00,000 means in a very short time period, you are going to earn about 100 % of returns, which you had spent to establish this business.
Eligibility Criteria for Mudra Loan
The minimum age of the applicant must be 18 years and the maximum Mudra Loan age limit is set to 65 years. Loans can be availed by non-farm income-generating businesses in trading, manufacturing and services. The requirement of credit must be ₹ 10 Lakh or lower.