Mahabank Kisan All Purpose Term Loan

Mahabank Kisan All Purpose Term Loan is launched by the government of Maharashtra. The scheme is implemented by the bank of Maharashtra for the farmers in Maharashtra state. Mahabank Kisan All Purpose Term Loan is given to farmers to provide hassle-free single term loan limit to farmers. The all term loan is given for requirements like Farm Mechanization, Land Development, Minor Irrigation, Water Conservation, Horticulture, Allied activities and other agriculture-related activities etc. The purpose of the loan is to give relief to the farmers from various documents, process, and duration of time. Kisan all purpose loan is a single loan to the farmers for fulfilling all his needs regarding agriculture. The farmer can use single loan on any agriculture-related activity. But, the loan is excluded from long duration development projects. Under this scheme, the loan is provided to farmers based on investment plan given by the farmer for agriculture and plan which complete in next 2-3 years. The plan which is submitted by farmers to the bank can be a combination of investment or development activities relating to agriculture & allied activities. All farmers such as individual or joint farmers are eligible to get benefit from under Mahabank Kisan all-purpose term loan

Benefits of Mahabank Kisan All Purpose Term Loan:

• To get benefit of single hassle-free loan for all agriculture purpose
• The duration for repayment of loan is long which is nine years
• To get loan up to one lakh with Hypothecation of assets created out of bank finance

Purpose of Loan:

1. To create hassle-free single term loan limit for farmer to all term loan requirement

Eligibility for Mahabank Kisan All Purpose Term Loan:

1. Individual farmers
2. Group of farmers
3. Joint farm holders in agriculture are also eligible
4. A person who engages in agriculture activities are eligible for this loan

Documents Required for Mahabank Kisan All Purpose Term Loans:

1. Loan application form
2. Address proof such as Aadhaar card
3. Applicant 7/12
4. Chatu sima of the applicant
5. No dues certificate from financial institute
6. Plan quotation, plan estimation and permission depending on purpose of loan
7. Guarantee form if required

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 and get all details about Mahabank Kisan all-purpose term loan
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-Standard-Operating-Procedure-for-the-Agriculture-Loans.pdf