The “Primary Cooperative Agriculture and Rural Development Bank: For Horticulture” scheme, launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, provides financial support to farmers through loans specifically aimed at horticultural activities. The scheme is designed to help farmers expand or improve their horticulture operations by offering loans based on land area, with amounts varying from ₹25,000 to ₹2,00,000 per 0.4 hectare. Interest rates for these loans range from 11% to 12.75% per annum, subject to prevailing market conditions.
Benefits
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Loan Amount:
Loans available range from ₹25,000 to ₹2,00,000 per 0.4 hectare. -
Competitive Interest Rate:
Interest rates are set between 11% and 12.75% per annum (subject to change).
Eligibility
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Residency:
The beneficiary must be a resident of Tamil Nadu. -
Farmer Status:
The beneficiary must be a farmer actively engaged in horticultural activities. -
Purpose:
The loan is exclusively for use in horticultural activities; the beneficiary must intend to use the funds for this purpose.
Application Process
Offline
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Collect the Application Form:
The interested applicant should contact the Secretary or Special Officer of the Primary Cooperative Agriculture and Rural Development Bank to obtain the application form. -
Complete the Form:
Fill in all mandatory fields on the form, attach a passport-sized photograph (signed across, if required), and include self-attested copies of all necessary documents. -
Submit the Form:
Submit the duly filled and signed application form along with the required documents to the concerned authority. -
Obtain Acknowledgment:
Request a receipt or acknowledgment from the authority. Ensure that the receipt includes essential details such as the date and time of submission and a unique identification number (if applicable).
Documents Required
- Identity proof (e.g., Aadhaar Card, PAN Card)
- Address proof
- Proof of agricultural occupation (specifically for horticultural activities), if applicable
- Any other documents as specified by the scheme guidelines
Frequently Asked Questions
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What is the objective of this scheme?
To provide financial assistance to farmers for the establishment or enhancement of horticultural activities through targeted loan support. -
Who is eligible for this loan?
The scheme is available to farmers residing in Tamil Nadu who are engaged in horticultural activities. -
What is the minimum loan amount available?
The minimum loan amount is ₹25,000 per 0.4 hectare. -
What is the maximum loan amount offered?
The maximum loan amount is ₹2,00,000 per 0.4 hectare. -
What is the interest rate on this loan?
The interest rate ranges from 11% to 12.75% per annum (subject to change). -
Can the interest rate vary?
Yes, the interest rate is subject to change based on market conditions. -
How can one apply for this loan?
Applicants must apply offline by collecting and submitting the application form through the Primary Cooperative Agriculture and Rural Development Bank. -
Is there an age limit for applicants?
The scheme guidelines do not specify an age limit; eligibility is based on residency, farmer status, and engagement in horticulture. -
Are there any income requirements for eligibility?
No specific income criteria are mentioned for this scheme. -
Is there a processing fee for the application?
The scheme guidelines do not specify any processing fee. -
Who can I contact for further assistance?
Applicants should contact the Secretary or Special Officer of the Primary Cooperative Agriculture and Rural Development Bank. -
Can farmers from all communities apply?
Yes, the scheme is open to all eligible farmers in Tamil Nadu. -
Is the loan’s interest rate fixed or adjustable?
The interest rate is adjustable within the range of 11% to 12.75% per annum.