If you are looking for an agriculture loan but don’t know where to go and how to apply, then do not worry as today we will tell you about one such bank that provides different types of agricultural loans as per your needs.
HDFC Bank, one of India’s leading private banks offers Kisan Gold Card Agri Loan, Tractor Loan, Small Business Agri Loan, Horticulture loan, poultry farming loan etc. Presently, HDFC has a banking network of 6,499 branches & 18,868 ATMs across the country.
HDFC Agriculture Loans
HDFC Bank provides loans to Agri Traders, Arathiyas, Food processing firms, Agri Exporters etc., as per their business requirements. If you want to avail this loan facility then do read the details given below.
Features of HDFC Small Agri Business Loan
Secured Loans that depend upon your eligibility and requirements.
Facility Type – Working capital (This is Both Fund and Non-Fund Based – Cash Credit, Overdraft (ODAP), Working Capital Demand Loan, Term Loan, EPC, Bank Guarantee and Letter of credit, etc.)
Funding is given to Individuals, Sole Proprietorship Firms, Partnership Firms, Pvt. Ltd. Firms, Limited Companies, etc.
Provides acceptable collateral – residential/commercial or industrial property/cash and liquid collateral.
Tenor or time frame -12 months with yearly renewal.
Provides an attractive rate of interest.
Convenient facilities such as Net Banking, Mobile Banking & Phone Banking.
Who can apply for HDFC Small Agri-Business Loan
Arathiyas / Commission Agents of Agriculture Commodities, Pesticide Dealers/Fertilizer Dealers, Distributors / Big Traders dealing in Agri Commodities (Retailers/Wholesalers) Food Processors / Agri Commodity Processors/ Agri Input Manufacturers/Farmer Producers /Agri Exporters / Other Allied activities.
If you take a loan or credit from HDFC then you get;
Quick loan – HDFC loan sanction and disbursal is one of the fastest with easy documentation & doorstep service.
Competitive price – HDFC loan rates & charges are very attractive.
Transparency – There is complete clarity on the loan procedure and no hidden fees.
Eligibility for HDFC Small Agri Business Loan
Business vintage – Five Years (min three years at the same location)
Tangible net-worth and profit after tax – Positive for at least two out of three financial years
Account behavior – This will be calculated on the basis of cheque returns, over-drawings, use of limits, churning & interest servicing, etc.
Application form along with KYC Documents (Partnership Deed or MOA & AOA/COI)
Property and Income Related Documents (Aud. Balance Sheet, ITR for last three years)
Bank Statement for last six months.
Stock and Receivables statement.
Business Registration Proof and Repayment track record of any existing loan.
Project reports for Term Loans.
Last six months stock, debtors & creditors values on letterhead.
Address Proof – You can submit Voter ID card/ Telephone Bill/ Bank Passbook/ Electricity Bill/ Passport/ Ration Card/ Aadhar Card.
Photo Id/Signature Proof – Voter ID/ PAN Card/Bank Passbook/Driving Licence.
All documents should be self-attested by the applicant.
Interest Rate, Charges & Fees
Type of Charge
Minimum of 1 percent of the limit amount sanctioned + applicable taxes.
Renewal cases without enhancement – Minimum of 0.50 percent of the limit amount renewed + applicable taxes.
Charged at 18 percent p.a. for Overdue / delayed / default of any monies payable
Average Utilisation> 60 percent – Nil charges
Average utilization < 60 percent – 0.50 percent p.a (plus taxes) on the difference between the actual utilization & average quarterly utilization of 60 percent.
Charges would be levied on a quarterly basis
Applicable only for CC/OD facility.
Stamp Duty and other statutory charges
It depends on the laws of the state
It must be noted that Service Tax and other Government taxes, levies etc. applicable as per the prevailing rate would be charged over and above the Fees & Charges
How to apply for HDFC Small Agri Business Loan
You can apply for the HDFC agri loan online as well as offlline.
First published on: 24 Nov 2022, 04:44 IST