The government of India provides an additional 3% annual interest subvention on crop loans up to Rs. 3,00,000 to eligible farmers. Eligible farmers are those who repay their short term crop loans within one year of disbursement, benefitting from an effective interest rate of 4% per annum. The subvention is available from the date of disbursement until the actual repayment date or the due date set by the bank, whichever comes earlier, up to a maximum of one year.
The government of India provides an additional 3% annual interest subvention on crop loans up to Rs. 3,00,000 to eligible farmers. Eligible farmers are those who repay their short term crop loans within one year of disbursement, benefitting from an effective interest rate of 4% per annum. The subvention is available from the date of disbursement until the actual repayment date or the due date set by the bank, whichever comes earlier, up to a maximum of one year.
The government of India provides an additional 3% annual interest subvention on crop loans up to Rs. 3,00,000 to eligible farmers. Eligible farmers are those who repay their short term crop loans within one year of disbursement, benefitting from an effective interest rate of 4% per annum. The subvention is available from the date of disbursement until the actual repayment date or the due date set by the bank, whichever comes earlier, up to a maximum of one year.
The government of India provides an additional 3% annual interest subvention on crop loans up to Rs. 3,00,000 to eligible farmers. Eligible farmers are those who repay their short term crop loans within one year of disbursement, benefitting from an effective interest rate of 4% per annum. The subvention is available from the date of disbursement until the actual repayment date or the due date set by the bank, whichever comes earlier, up to a maximum of one year.
• Brief Overview :Govt. Of India provides an additional Interest Subvention
of 3% p.a. on Crop loans upto the date of repayment or upto the due date , whichever is earlier subject to a maximum period of 1 year. “An additional interest subvention of 3% per annum is available to the prompt payee farmers from the date of disbursement of the crop loan upto the actual date of repayment by farmers or upto the due date fixed by the bank for repayment of crop loan, whichever is earlier, subject to a maximum period of one year from the date of disbursement. This also implies that the farmers paying promptly would get short term crop loans @ 4% per annum during the year. This benefit would not accrue to those farmers who repay after one year of availing such loans.”
• Eligibility : All those farmers who repay their short term crop loans within one year of disbursement /drawl of such loans.
• Applicable Up to :Rs.3,00,000 irrespective of the loan amount .