Agriculture is the main sector of India, as a major section of India is involved directly or indirectly in the agricultural sector. But, the sector is mainly dependent on the climate and the year there is scarcity of rains, the produce is lower and that affects the agriculturists and farmers. They end up facing a lot of financial difficulties. Axis bank has announced certain schemes to help the farmers and agriculturists with their financial requirements.
The agriculture business loans offered by Axis bank are as follows:
Kisan power aims mainly at providing adequate and timely credit to farmers to meet cultivation needs that include purchasing inputs, agricultural equipment, developing land, buying bullock carts, two/three or four wheelers, repair farm machinery or any other farming related requirements. Bank also provides finance to meet expenditure on account of any sickness, child’s education and for family functions as well. The farmer can choose between cash credit and term loans and with flexible repayment terms.
Axis bank offers hassle free tractor loans to the farmers. They offer no foreclosure charge and you can choose from the flexible repayment option. The farmer with multiple sources of income will get special interest rate.
Farmers depend heavily on the cattle as well. The cattle loans are provided to farmers through diaries and cooperative societies to purchase milch animals and to construct shed for keeping the cattle.
Loans are provided for constructing, renovating and expanding go downs in rural and urban areas at attractive interest rates.
This scheme aims at financing pledged stocks of agricultural commodities stored at go downs and warehouses that are managed by CWC/SWC/private warehouses that are supervised by managers of Axis Bank Ltd. The intention of this scheme is to avoid distress sales at the harvest time and also to neutralise the seasonality factor. This scheme aims to enhance income of the farmer by providing liquidity at times of low cash flow.
Axis bank offers easy loan against your gold ornaments. This loan is offered to individuals engaged in agricultural activities. You get the higher limits per gram, attractive interest and convenient repayment schedule. The documentation is simple and the loan is disbursed quickly.
Axis bank helps the farmers who have tied up with corporates with their financial requirements. The farmer can get access to pre and post-harvest finance and instant payment for supplies are made. The farmer gets incentive for crop cultivation and can mitigate marketing risk as they have tied up with a reliable partner. The corporates on the other hand can reach the huge untapped farmer base and enhance farmer loyalty. They get assured supply of the raw materials and can mitigate risk of price instability.
Loans are provided to the horticulture projects that are approved by National Horticulture board for subsidy.