Good News For Poultry Farmers : Top Banks Offering Loans for Poultry Farming; Eligibility, Repayment Period, Documents Required & Method to Apply
Below we have listed top banks providing loans for Poultry Farming in India.
If you are planning to start a poultry farm and looking for banks or financial institutions that can help you with this then keep reading this article. Animal husbandry is an important branch of agriculture and many farmers depend upon it for their livelihood hence to boost the development in this area, the Government along with national and private banks provides loans to people engaged in this field. Below we have listed top banks providing loans for Poultry Farming in India.
Banks Providing Poultry Loans in India
Most of the banks in India provide agricultural loans against crops, poultry, and animal husbandry. Here are some of the top banks who provides agricultural loans.
SBI Poultry Loan
Eligibility - The farmers with adequate experience or knowledge in poultry farming and with land for setting up poultry sheds are eligible for this loan.
Collateral Security - Due to security reasons, farmers must mortgage of land on which the poultry shed & other infrastructure are available or planned to be constructed that should cover at least 50 percent of the advance.
Repayment Period - The repayment time for this loan is five years including six months of a grace period in bi-monthly installments.
Documents required - Duly filled in the application form along with Identity proofs like voter ID card/PAN card/Passport/Aadhaar card,/Driving License, etc. For Address proof, they must submit a Voter ID card/Passport/Aadhaar card/Driving license, etc.
How to apply for SBI loans
Contact your nearest SBI branch for an application form or you can also check the official website
SBI Broiler Plus Loan
State Bank of India offers loans to Broiler Farmers under Contract Farming. This scheme gives loans to farmers for contract broiler farming, constructing & feed room and also for buying equipment.
Eligibility - those with enough experience or training in poultry farming and having land for constructing poultry sheds are eligible for this loan. The land must be at least 500 meters away from other poultry farms and have a potable water source.
Flock Size - The minimum flock size must be 5000 birds and financing can be done for 10,000 & 15, 000 birds or part thereof.
Loan amount - Up to 75 percent of the cost. The loan amount will be up to Rs 3 lakhs for every 5000-bird farm. The maximum loan amount is Rs 9 lakhs/farmer.
Security - For security, the person must mortgage of land on which the poultry shed & other infrastructure is available or planned to be constructed that must cover at least 50 percent of the advance.
Repayments - The loan must be repaid within five years and a grace period of six months is provided.
How to apply for SBI poultry loans
In order to apply for the SBI loan, contact your nearest State Bank of India branch or check the official website
Punjab National Bank Loan
PNB offers loans for the construction of sheds & purchase of equipment. It also provides production loans for buying day-old chicks, feed, medicines, etc.
Benefits of PNB loans
For subsidiary terms - the bank provides a medium-term loan for acquiring fixed assets & offers production credit for capital requirements as Short Term Loan.
Eligibility - Small farmers, landless agricultural laborers, or others planning to supplement income via poultry with an adequate land/shed to set up poultry farm are eligible for loans.
For main activity - Investment credit will be provided as a medium-term loan while production credit will be given either in the shape of cash credit limit or as an integral component of investment credit.
Eligibility - concerned person must be running a poultry unit on a commercial basis. Should have land/shed to set up or extend a poultry farm.
Collateral Security - For security, the person must mortgage of land or Third-party guarantee.
Loan Amount - The loan amount actually depends on the type & size of the poultry unit.
Repayment Period - 18/12 months in the case of layers & broilers. Repayment of investment loan would be over a period of 6 to 7 years in the case of small farmers depending upon their repaying capacity.
Documents required - Duly filled in application form with Identity proof (Voter ID card/PAN card/Passport/Aadhaar card,/Driving License) and valid address proof.
How to apply for PNB loans
Contact the nearest PNB branch and collect the loan application form. Or can check https://www.pnbindia.in/
HDFC Agcitultural loan
HDFC Bank provides financial support to farmers with experience in cultivating cash crops, plantations, poultry, animal husbandry, dairying, seeds, warehousing, etc. HDFC also finances the supplies for Agri inputs such as seeds. HDFC bank provides loans for the setting up of small poultry (layer/broiler) for farmers & agricultural laborers. Farmers can get a loan amount up to 100 percent on the cost of the asset or project cost.
Eligibility - All individual farmers, agricultural laborers with certificate or experience in poultry management can avail bank credit for poultry units. The applicant must be trained or technically qualified for running the unit.
Collateral Security - For security reasons, the person must mortgage of land / Third-party guarantee.
Loan Amount - Loan amount depends on the type & size of the poultry unit.
Repayment Period - Longer repayment period up to 5 years.
Documents required - Duly filled in application form with valid Identity proof and Address proof.
How to apply for HDFC loans?
To apply contact the nearest HDFC branch or visit the official website hdfc.com
IDBI Poultry Loan
The IDBIs loan benefits the existing & new farmers for setting up poultry shed, feed room & other equipment.
Eligibility - Farmers with a thorough knowledge/understanding of poultry farming authenticated by a training certificate or experience certificate etc. are eligible for poultry loan.
Repayment Period - The repayment period of IDBI poultry loan is Six Years.
Documents required - Duly filled in application form with identity proof as well as address proof like voter ID card/ Passport/Aadhaar card/Driving License.
How to apply for IDBI poultry loan?
In order to apply for the poultry loan, contact the nearest IDBI branch and collect the application form. Also, Check https://www.idbibank.in
Federal Bank Agriculture Loan
Federal Bank offers Agri Allied Loans i.e. Animal Husbandry Loans, Dairy Loans, and Poultry Loans. Farmers can avail loan amount up to 100 percent on the cost of the asset or project cost.
Eligibility - Applicants with proper knowledge of poultry farming substantiated by a training certificate or experience certificate are eligible for a Federal Bank loan.
Loan Amount - For the loan up to Rs.50,000, you can avail 100 % of the cost of the asset/project cost. Above Rs 50,000 you can avail up to 85 % of the cost of the asset/project
Repayment Period - Federal bank offers a longer repayment period up to nine years
For more details check https://www.federalbank.co.in