Composite Minor Irrigation

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Farm mechanization LoanAllied ActivitiesMiscellaneous ActivitiesGovernment Schemes
Composite Minor Irrigation

The activities financed under Minor Irrigation are as under:

Direct Finance: :

  • Financing for Pump sets / Oil Engines / Pipeline.
  • Financing for Dug well/ Repairs to wells /Bore wells / Tube wells
  • Financing for Ponds/ Water storage tanks.
  • Financing for Micro Irrigation i.e. Sprinkler / Drip irrigation
  • Financing for Automized / Computerized Irrigation Systems.
  • Financing for Individual / Cooperative Lift Irrigation Schemes.
  • Financing for Rainwater Harvesting Scheme.
  • Financing for purchase of generator sets for irrigation purposes.

Features :

  • Type of Facility: Agriculture Term Loan
  • Quantum of Loan: Min-Rs.10,000/- Max-Rs.49,00,000/-
  • Margin: 15% to 25% of the Project Cost
  • Moratorium: 12 Month.
  • Repayment: Repayable in maximum 24 half yearly instalments after moratorium period
  • Security:
    • Up to Rs.1.60 Lakh: -
      • Primary: Hypothecation of Moveable asset Created.
      • Collateral: Nil.
    • Loans above Rs.1.60 lakh:-
      • Primary: Hypothecation of Movable Asset Created.
      • Collateral: Mortgage of land /Charge on Land;
  • Interest Subvention: Not Applicable

Eligibility

  • Individual farmers, companies /partnership firms /JLGs/SHGs of farmers.

Documents Required

  • Duly filled in application form
  • Identity proof- Voter ID card/PAN card/Passport/ Aadhaar card/Driving License etc.
  • Proof of agricultural land/ cultivation.
  • Any other document as per sanction.

  • Interest Rate: One-Year MCLR+3.60%.
  • Processing charges:
    Up to Rs.2.00 Lakh -NIL
    Above Rs.2.00 Lakh 1.40% of Loan amount +GST

What is the objective of “Composite Minor Irrigation” Scheme?

  • To increase the area under irrigation and to improve the water use efficiency.
  • To improve the crop production and productivity of crops which in turn will improve the farmers economic status

For more details, please visit nearest SBI Branch.


Last Updated On : Saturday, 18-11-2023

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

*T&C Apply.

 

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