Andhra Bank
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AB Kisan Pragathi
 AB Kisan Pragathi

To meet their various need based miscellaneous expenditure connected to farming & allied activities, a new scheme "AB KISAN PRAGATHI" has been introduced.

The scheme aims at providing hassle free credit to the farmer in the areas where it is difficult to assess the small credit requirement in strict banking terms towards cost incurred like

  • Land leveling, bunding, contour formation, land reclamation etc.,
  • To purchase miscellaneous agricultural implements like sickles, harrows, Cultivators, seed drills etc.
  • To purchase plant protection equipment like sprayers, dusters and power Sprayers etc.
  • To carry out the repairs for the existing agricultural implements and plant Protection equipment
  • To grow live hedge, trees like coconut, teak, vegetable cultivation on bunds etc.
  • To carryout small repairs to the existing minor irrigation structures like wells, tube wells, electric motors and pump sets, oil engines, replacement of pipelines, etc.
  • To meet the working capital requirements of existing livestock like dairy, sheep, goat, backyard poultry etc.

The details of the new scheme are as under:

 Name of the Scheme :

( Finance to meet the miscellaneous expenditure incurred by the farmer towards  agricultural and allied activities)

All existing and new farmers who are owner cultivators and   availed crop loan facility with the branch.
 Credit limit

up to a maximum credit limit of Rs.10, 000/- (or) to the extent of crop loan limit availed by him, which ever is lower per borrower who is owner cultivator
.  The finance can be extended on the basis of self declaration that the farmer requires the amount to carry out the certain miscellaneous activities mentioned above during the current crop season.
 Facility :

Agricultural Term loan

15% of the proposed requirement towards the miscellaneous activities mentioned in the self declaration.
 Rate of interest:

click here for Interest rates
 Repayment schedule:

Repayable in 5 annual installments commensurate with the due date of the crop loan.

As per  existing guidelines of  the Bank for agricultural  advances.
 Compounding of interest:

If a particular installment is not paid on due date, compounding of Interest is to be done on that particular installment.
 Upfront fee:

1% of the term loan limit.

No specific insurance is to be covered .However; all eligible crops are to be covered under crop insurance.