Primary Cooperative Agriculture and Rural Development Bank: For Power Tiller

Description
The "Primary Cooperative Agriculture and Rural Development Bank: Power Tiller" scheme launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, aims to provide financial assistance to farmers for purchasing a power tiller, with up to 90% of the cost covered through a loan. This initiative aims to support agricultural productivity by making essential farming equipment more accessible. The interest rate on the loan ranges from 11% to 12.25%.

Exclusions
• <br>

Benefits
• **Access to Loan:** Up to 90% of the cost of a power tiller. - **Interest Rate:** 11% to 12.25% (subject to change).
• &lt;br&gt;

Eligibility Criteria
1. - The beneficiary should be a resident of Tamil Nadu.
2. - The beneficiary should be a farmer.
3. - The beneficiary should be engaged in agricultural activities.
4. - The beneficiary should be interested in availing of a loan for purchasing power tiller.
5. - The beneficiary should have the intention to use the loan specifically for purchasing power tiller.
6. &lt;br&gt;

Required Documents
• Identity proof (Aadhaar, PAN card, etc.).
• Address proof.
• Proof of Farming (if required).
• Any other documents (if required).

Frequently Asked Questions
Q: What is the objective of this scheme?
A: The scheme offers loans to farmers covering up to 90% of the cost of a power tiller, with an interest rate between 11% and 12.25%.

Q: Who is eligible for this scheme?
A: Farmers engaged in agricultural activities are eligible for this loan.

Q: What is the purpose of this loan?
A: The loan is intended specifically for purchasing a power tiller to assist in farming activities.

Q: What percentage of the power tiller’s cost is covered by the loan?
A: The loan covers up to 90% of the cost of a power tiller.

Q: What is the interest rate on this loan?
A: The interest rate on the loan ranges from 11% to 12.25%.

Q: Is the interest rate fixed or subject to change?
A: The interest rate is subject to change, depending on bank policies.

Q: What documents are required to apply for the loan?
A: Required documents include proof of identity, proof of address, proof of farming etc.

Q: Is there an age limit for eligibility under this scheme?
A: There is no specific age limit mentioned for eligibility.

Q: Can applicants apply for this loan online?
A: Currently, applications must be submitted in person at a Primary Cooperative Agriculture and Rural Development Bank branch.

Q: What is the repayment period for the loan?
A: The bank will specify the repayment period upon loan approval.