The “Primary Cooperative Agriculture and Rural Development Bank: Jewel Loans” scheme, launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, is designed to provide financial assistance to farmers through loans secured against jewels. Under this scheme, farmers can obtain a loan of up to ₹2,00,000 based on the value of their pledged jewels. The loan is offered at an interest rate of 11.5% per annum (subject to change), supporting agricultural activities and helping farmers meet their financial needs.
Benefits
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Access to Loan:
Farmers can secure loans up to ₹2,00,000 based on the value of their pledged jewels. -
Competitive Interest Rate:
The loan carries an interest rate of 11.5% per annum (subject to periodic changes).
Eligibility
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Residency:
The beneficiary must be a resident of Tamil Nadu. -
Occupation:
The beneficiary should be a farmer engaged in agricultural activities. -
Purpose:
The loan must be used for agricultural purposes, with jewels serving as collateral.
Application Process
Offline Process:
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Collect the Application Form:
Contact the Secretary or Special Officer of the Primary Cooperative Agriculture and Rural Development Bank to obtain the application form. -
Fill in the Form:
Complete all mandatory fields on the form, affix a passport-sized photograph (signed if required), and attach self-attested copies of the required documents. -
Submit the Application:
Submit the duly filled and signed application form along with the documents to the concerned authority. -
Obtain Acknowledgment:
Request a receipt or acknowledgment that includes essential details such as the date and time of submission, and a unique identification number (if applicable).
Documents Required
- Identity Proof:
Aadhaar Card, PAN Card, etc. - Address Proof:
Any government-issued address proof. - Proof of Land Ownership or Lease:
Documents evidencing land ownership or lease agreements. - Jewels Purchase/Invoice Details:
Documents or invoices detailing the purchase of the jewels pledged as collateral. - Additional Documents:
Any other documents as required by the scheme guidelines.
Frequently Asked Questions
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What is the objective of this scheme?
To provide financial assistance to farmers through loans secured against jewels, enabling them to meet their agricultural financing needs. -
What is the maximum loan amount available under the scheme?
Loans up to ₹2,00,000 can be availed, subject to the value of the pledged jewels. -
What is the applicable interest rate for the loan?
The loan is offered at an interest rate of 11.5% per annum (subject to change). -
Who is eligible to apply for this loan?
The beneficiary must be a resident of Tamil Nadu, a farmer engaged in agricultural activities, and willing to pledge jewels as collateral. -
Is there any income requirement for eligibility?
No specific income limit is mentioned; eligibility is based on residency, occupation, and collateral availability. -
Is there an age restriction to apply for the loan?
There is no specific age restriction mentioned in the guidelines. -
What kind of collateral is required?
The loan is secured against jewels, and the applicant must provide purchase/invoice details of the jewels pledged. -
How can one apply for the loan?
Applications must be submitted offline by collecting the application form from the relevant authority and submitting it with the required documents. -
What documents are required for the loan application?
Identity proof, address proof, proof of land ownership or lease, jewels purchase/invoice details, and any additional documents as specified. -
Who should be contacted for more information about the loan?
Applicants should contact the Secretary or Special Officer at the Primary Cooperative Agriculture and Rural Development Bank.