• Animal Husbandry Loan

    Loan for Animal Husbandry

    India has always put emphasis on farm livestock resources, with agriculture aptly complemented with animal husbandry practices. There are several schemes from various public and private sector companies that deal with animal husbandry and Agriculture Loans. These loans are primarily aimed at the rural populace so as to enable them to adopt animal husbandry practices without worrying about the finances involved.

    Animal husbandry loans are generally offered for purchase or creation of assets and infrastructure related to poultry, sericulture, piggery, dairy development, fisheries development and apiculture etc. The loans are usually secured against mortgage of land, hypothecation of acquired assets or third party guarantee.

    Major Banks offering Animal Husbandry and related Loans

    Punjab National Bank, State Bank of India, Bank of Baroda, Federal Bank, HDFC Bank and several other banks offer animal husbandry and agriculture loans.

    Features of Animal Husbandry Loan

    • Loans are available for up to 100% of cost of asset or project cost.

    • Typically longer repayment tenures.

    • Minimal paperwork and quick loan processing.

    • Flexible repayment options that include cheques, ECS, internet banking, standing instructions and automated loan recovery, among others.

    • Loans are generally disbursed at low interest rates.

    Documents required for Animal Husbandry Loan

    There are minimal documentation requirements for applying for an animal husbandry loan.

    • One identity proof among PAN card, passport, driving license, voters ID.

    • One address proof among passport, lease agreement, sales tax certificate, electricity or telephone bill, ration card etc.

    • Quotation for the acquiring assets may be asked for by the lender.

    Types of Animal Husbandry techniques covered under loans

    These loans can be used for a variety of purposes such as dairy development programmes, milk production activities such as buying and maintenance of milch animals, rearing of female calves, cattle breeding through artificial insemination, milk house constructions, milk processing facility financing, pasture development financing and lots more in the dairy side of financing.

    The loans also cover other avenues of animal husbandry such as fishery, piggery, poultry, apiculture, sericulture and many other techniques.

    Choosing an Animal Husbandry Loan

    Each bank has its own criteria for offering animal husbandry loans and you are advised to contact banks individually to know what their loan product actually covers. Most of the public sector banks are involved in some form of agriculture and agriculture allied loans, so you should look at your requirements and make a choice accordingly. There are also some subsidies available from the government for people of backward categories to acquire assets related to animal husbandry. As such, you should also enquire about the related benefits of an animal husbandry scheme while applying for a loan.

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