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Agriculture loans in India can be categorised into five main types. They are:

Kisan Credit Card 

To help farmers and others engaged in agriculture meet their short-term and seasonal capital needs, the government of India introduced the Kisan Credit Card. It works similar to a credit card and farmers can dip into the approved line of credit to meet their various short-term needs.

Agriculture Term Loan 

It works similar to a regular term loan. Farmers are provided with a one-time loan amount, which they then repay as fixed EMIs over a specific tenure. Term loans are mostly used to meet large capital needs of farmers.

Agriculture Working Capital Loans 

These loans lie between KCCs and long-term capital loans. They are used to fund the large working capital needs of farmers. It’s repaid as fixed EMIs over a specific tenure.

Agriculture Gold Loans 

It works just like regular gold loans. The borrower pledges a gold ornament as collateral and receives loans on it. The only difference between agriculture gold loans and regular gold loans is that the former is exclusively offered to farmers.

Farm Mechanisation Loans 

As the name implies, these loans are specifically offered to farmers for upgrading farm machinery. It includes various subcategories like tractor loans, drip irrigation loans, solar pumpset loans, etc.

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