Animal Husbandry Loan for Farmers in Maharshtra

Animal Husbandry is a loan scheme which is launched by government of Maharashtra for the welfare of farmers. The animal husbandry loan is given by various banks for purchase of Milk Animals like Cows, Buffaloes etc. The loan also provides for Purchase of Draft Animals like Bullock and Camel etc. Animal Husbandry also gives loan for poultry farm like Broiler, Layers Farm, Hatchery, Feed Mill, Sheep, Goat Rearing, Construction of Byre, Purchase of equipment, machinery etc. Animal husbandry loans are generally offered for purchase or creation of assets and infrastructure related to poultry, agriculture, piggery, dairy development, fisheries development and apiculture etc. The loans are usually secured against the legal agreement of land, hypothecation of acquired assets or third party guarantee. All farmer including individual or joint landholders is eligible for animal husbandry loan. There are minimal documentation requirements for applying for an animal husbandry loan. Insurance of all animals, birds, equipment, machinery purchased by the farmer is essential for the loan. The loan is given to the farmer by estimation cost of the project, estimation, price quotation as per bank requirement. The installment is paid by farmers Within three to seven years with suitable monthly, quarterly, half yearly installments

Benefits of Animal Husbandry:

• To get loan for animal, fishery, piggery, poultry, apiculture, sericulture
• To get no margin on loan up to Rs. 1,00,000/-
• To get benefit of 100% of cost of asset and project cost
• Longer repayment time for loan
• Minimum paperwork and processing

Eligibility of Animal Husbandry:

1. All farmers like Individual and  Joint landholders are eligible for this loan
2. A person who farms rented land also eligible
3. Sharecroppers are eligible

Document for Animal Husbandry:

1. Application form
2. Applicant required identity proof such as PAN card, passport, driving license, voter card
3. Applicant required 7/12
4. Address proof such as passport, electricity or telephone bill, ration card etc.
5. lease agreement, sales tax certificate
6. Quotation for the acquiring assets
7. No dues certificate of financial institution
8. Legal certificate for loans above 1 lack

Security Required for Animal Husbandry Loan:

1. Hypothecation of Animals and Plant Machinery to be purchased
2. Third Party Guarantee and Mortgage of land

Application procedure:

1. You may contact nearest branches of the bank who engaged in agricultural advance
2. You may even talk to the agriculture officers visiting village
3. you may go to the nearest branch of nationalizing bank with all documents

References & details:

1. For more details about Animal, Husbandry Loan visit following link
2. http://www.bankofmaharashtra.in/credit_fac_agri.asp