Canara Bank provides around 30 loan schemes for agriculture and allied activities. These can be availed individually or jointly as a group. Following are some of the common eligibility criteria to avail the agriculture loan facility.
Farmers – Either individually or jointly through Self-Help Groups, Joint Liability Groups, Proprietorship and Partnership Firms, Companies and Societies undertaking agriculture activities
- The borrower should have all KYC documents
- Farmer applying for one loan product may not be eligible for another
- Some of the loan schemes may require land records. Hence, the farmers need to provide proof for the agriculture property
- The applicant has to be a local resident for few loan schemes
- For dairy loans, the farmer should have proper cattle shed and arrangements to house the existing animals, proper drinking water facilities, green fodder etc.
- For sericulture loan, the applicant should have obtained license from Sericulture Department to grow silk worms. Moreover, technical assistance from the department should be available
- For pump set loans, the farmer should submit Water Yield Certificate from Department of Mines & Geology
- For agri-gold loans, the farmer should provide the gold as collateral and should show proof of the agriculture property
Additional Reading: Agriculture loan in Canara bank