Horticulture and Plantation Activity Loan for Maharashtra

Horticulture and plantation activity loan for the farmer is introduced by the government of Maharashtra. The bank of Maharashtra provides term loan to farmers for horticulture and plantation activities. Horticulture is a sub-sector of agriculture which contributes 18% of the gross production of the agriculture sector and 52% of horticulture production get earning by export business. Horticulture Loan caters all the horticultural and plantation needs like setting up of horticultural nursery, projects, and vegetable, Cultivation of fruits crops like Mango, Pomegranate, Grapes, Guava and floricultural nursery. The main purpose of the loan for farmers is to increase horticulture and plantation activities such as to plant, grow, cultivate, produce, and raise plantations of various forest species of proven utility, plantation, horticultural crops, medicinal and aromatic plants to buy, sell, export, import, process, distribute or plantation and horticultural crops. The loan is for all persons who engaged in raising fruit gardens, plantations and nursery crops as owners of land or permanent tenants or as leaseholders can apply for the term loan. The duration of repayment of loan is 7 to 15 years including gestation period

Benefits of Horticulture and Plantation Activity Loan:

• To get the benefit for Cultivation of fruit crops-Mango, Pomegranate, Grapes, Guava etc.
• To get benefit of loan up to one lakh without margin
• To get benefit of maximum duration of repayment

Eligibility for Horticulture and Plantation Activity Loan:

1. All farmers who engaged in raising fruit garden all eligible for loan
2. Owners of plantation and nursery land are eligible for loan
3. A person who rented land for horticulture and plantation activities are eligible for this loan

Document required for Loan:

1. Loan Application form from no-138 with Enclosure
2. Address proof such as Aadhaar card
3. Applicant need 7/12
4. Chatu sima of the applicant
5. No dues certificate from financial institutions
6. Applicant need Price quotations or Plan estimates or Permissions etc. depending upon the purpose of loan
7. Guarantee form of applicant if required

Application procedure:

1. Applicant visit nearest branch of Bank of Maharashtra
2. The bank manager explain all essential documents and legalities
3. Applicant should fill application form with checklist of the document to be submitted
4. Applicant can visit http://www.bankofmaharashtra.in/downdocs/The-Standard-Operating-Procedure-for-the-Agriculture-Loans.pdf to get details of procedure for loan

References & details:

1. For more details visit Bank of Maharashtra official site: http://www.bankofmaharashtra.in/credit_fac_agri.asp
2. For more details of operating procedure of Bank of Maharashtra visit following link: http://www.bankofmaharashtra.in/downdocs/The-Standard-Operating-Procedure-for-the-Agriculture-Loans.pdf