Overview of agri Loan in Sonipat
agri loans in Sonipat support farmers and agribusinesses by providing funds for crop cultivation, purchasing equipment, irrigation systems, or land development, fostering rural growth in Sonipat’s agrarian economy.
Eligibility Criteria
| Criteria | Details |
|---|---|
| Applicant Type | Farmers, agri cooperatives, agribusinesses |
| Age | 21–65 years |
| Land Ownership | Owned or leased agri land |
| Income | Stable agri income (varies by lender) |
| Credit Score | 650+ (preferred, not mandatory) |
| Collateral | Land, crops, or equipment (optional for some schemes) |
Documents Required
- Identity Proof: Aadhaar, PAN Card
- Address Proof: Utility bill, Aadhaar
- Land Documents: Ownership deed, lease agreement
- Income Proof: agri income records, ITR (if applicable)
- Bank Statements: Last 6 months
- Crop Details: Cultivation records or plan
Benefits of agri Loan in Sonipat
- Loans up to ₹50 lakh for farming needs
- Low interest rates starting at 7% p.a.
- Flexible tenures up to 7 years
- Subsidized loans under government schemes
- Support for equipment, seeds, and irrigation
Compare agri Loan Lenders in Sonipat
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| State Bank of India | 7% p.a. | Up to ₹50 lakh | 7 years | 0.5% |
| NABARD | 7.5% p.a. | Up to ₹40 lakh | 6 years | 0.75% |
| HDFC Bank | 8% p.a. | Up to ₹30 lakh | 5 years | 1% |
Frequently Asked Questions
What can an agri loan be used for in Sonipat?
Crop cultivation, purchasing equipment, irrigation, land development, or working capital.
Is collateral required for agri loans?
Collateral is optional for government-backed schemes; private lenders may require land or equipment.
How long does it take to get an agri loan approved?
7–15 days, depending on documentation and lender processing.
Are there government schemes for agri loans?
Yes, schemes like Kisan Credit Card and PM-KISAN offer subsidized loans.
Can tenant farmers apply for agri loans?
Yes, with valid lease agreements and income proof.
What happens if I default on an agri loan?
Lenders may seize collateral (if applicable), impose penalties, or report to credit bureaus, affecting future loan eligibility.
Promotional Offers
- Interest rates starting at 7% p.a. for agri loans in Sonipat
- Waived processing fees for applications before 31st May
- Free agri loan eligibility check via Loanpao