Canara Bank offers attractive interest rates to a wide range of agriculture loan products. Below is the table that lists out the different rate of interests for different loan amount:
S. No
Agriculture Loan Limit
Applicable Rate of Interest
A
Agriculture Loans up to Rs. 3 Lakhs
MCLR+1.40%
B
Agriculture Loans above Rs.3 Lakhs and up to Rs. 1 Crore
MCLR+2.30%
C
Agriculture Loans above Rs.1 Crore up to Rs. 2 Crore
MCLR + 2.30% to MCLR + 3.50%
Lower
MCLR + 2.30%
Middle
MCLR + 2.55%
Higher
MCLR + 2.80%
Highest
MCLR + 3.50%
D
Agriculture Loans above Rs. 2 Crore (Rated Internally under RAM Model)
Internal rating
LR
MCLR + 2.40%
NR
MCLR + 2.75%
MR
MCLR + 3.05%
HR
MCLR + 3.75%
E
Agriculture Loans above Rs. 5 Crore (where external rating undertaken)
External rating
AAA or Equivalent
MCLR + 1.40%
AA or Equivalent
MCLR + 1.50%
A or Equivalent
MCLR + 1.85%
BBB
MCLR + 2.80%
BB
MCLR + 3.35%
B
MCLR + 3.50%
C&D
MCLR + 4.50%
F
Gold Loans for Non-Crop Purpose
1. Gold Loans and GLOD for Agricultural Purposes
MCLR + 0.45%
2. Gold Loans and GLOD above Rs.2 Lakhs up to Rs.5 Lakhs
MCLR + 2.45%
Gold Loans for crop production purpose upto Rs 3.00 Lakhs are eligible for Interest Subvention. RoI of 9% to be during subvention period. Beyond the period of interest subvention, applicable card rate as applicable to agricultural loans is to be charged.
G
Rate of Interest for SHG Loans
Up to Rs. 3 Lakhs
MCLR + 1.30%
Above Rs.3 Lakhs
Score
Rate of Interest
SHG with more than 125 points
151 to 170: MCLR + 1.55%
125 to 150: MCLR + 2.05%
SHG with 100-124 points
100 to 124: MCLR + 2.80%
H
Estate Purchase Loan (Term Loan Only)
Particulars
ROI
Estate Purchase Loan
MCLR+6.55%
Additional Reading: Canara Bank Agricultural Loan Eligibility
Additional Reading: Agriculture loan in Canara bank