Mahabank Gold Loan Scheme for Agriculture in Maharashtra

Mahabank Gold Loan Scheme for Agriculture launched by the government of Maharashtra for the farmers and the scheme is implemented by Bank of Maharashtra. Under this scheme, the farmers get the hassle-free loan for the fulfill of agriculture requirements such as crop production or cash credit for the agriculture activities. This loan helps farmers to meet their quick requirement for agriculture. The farmers get the loan with the pledge of gold jewelry and ornaments. The mahabank Kisan credit card (MKCC) farmer can get the loan against 75% market gold value and the farmer gets 60% market gold value on the term loan. For the loan, any person who engaged in agricultural activities or allied activities is eligible for this loan. The person gets the duration of repayment of loan is five years. The rate of interest for the mahabank Kisan credit card (MKCC) is 7% per annum which is fixed up to Rs 3.00 lakh under interest subvention scheme up to one year. For the term loan applicable under agriculture advances. The gold loan is given to the applicant with very less documentation and minimum processing duration

Benefits of Mahabank Gold Loan Scheme for Agriculture:

• To get benefit of loan up to three lakh
• To get benefit of hassle-free loan
• To get benefits of loan on the pledge of gold jewelry and ornaments

Eligibility of Mahabank Gold Loan Scheme for Agriculture:

1. A farmer can eligible for loan
2. Any person who is engaged in agricultural activities are eligible for loan
3. Applicant should satisfy know your client ( KYC) guidelines

Document Required for Mahabank Gold Loan Scheme for Agriculture:

1. Applicant address proof such as Aadhaar card
2. Loan application form with Enclosure
3. Applicant need 7/12
4. Applicant need revenue record

Application procedure:

1. Applicant can visit nearest branches of the bank of Maharashtra who engaged in agricultural advance
2. You may even talk to the marketing officers visiting village
3. Applicant can go online on official site of Bank of Maharashtra
4. Applicant can visit on the bank with necessary documents
5. 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-Sta-Operating-Procedure-for-the-Agriculture-Loans.pdf