Primary Cooperative Agriculture and Rural Development Bank: For Plantation (Tea)
At a Glance
Scheme Category
Banking,Financial Services and Insurance,Loan
Target Beneficiaries
Individual
Brief Description
The scheme offers financial assistance of up to ₹33,000/- per acre to farmers for tea plantations, with an interest rate of 11%-12.5%.
Benefit Type
Cash
Eligibility Criteria
- The beneficiary should be a resident of Tamil Nadu. - The beneficiary should be a farmer. - The beneficiary should be interested in tea plantation. - The beneficiary should be interested in availing loan for tea plantation. - The beneficiary should have the intention to use the loan specifically for tea plantation.
Application Mode
Offline
Application Process
Step 1: The interested applicant should collect the application form by contacting the Secretary/ Special Officer of the Primary Cooperative Agriculture and Rural Development Bank. Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required). Step 3: Submit the duly filled and signed application form along with the documents to the concerned authority. Step 4: Request a receipt or acknowledgment from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
Required Documents
- Identity proof (Aadhaar, PAN card, etc.). Address proof. Proof of Land Ownership or Lease. Any other documents (if required).
FAQs
What is the objective of this scheme?
The scheme offers financial assistance of up to ₹33,000/- per acre to farmers for tea plantation, with an interest rate of 11%-12.5%.
What is the maximum loan amount provided under the scheme?
Farmers can receive up to ₹33,000/- per acre for tea plantation.
What interest rate applies to the loan?
The interest rate ranges from 11% to 12.5%, subject to adjustments.
What documents are required for the loan application?
Required documents include identity proof, land ownership papers, address proof etc.
Is there a minimum age or income requirement to qualify?
There is no specific age or income requirement mentioned in the eligibility criteria.
Where should applicants submit their loan applications?
Applications can be submitted at the Primary Cooperative Agriculture and Rural Development Bank.
Are there any fees associated with the loan application?
Applicants should inquire with the cooperative bank to confirm any applicable fees.
Can the loan be used for other types of plantations?
No, the loan is specifically intended for tea plantations.
What is the validity period for the scheme?
The scheme's end date is not specified; applicants should check with the bank for any deadlines.
Does the scheme offer any additional subsidies or grants?
The scheme offers financial assistance through the loan but does not specify any additional subsidies.