State Bank Of India Agriculture Loan

I recently opened an account in the State Bank of India and want to take the Agriculture Loan searching for the loan details. Will you tell me what the purpose and eligibility for taking SBI Agricultural Gold Loans also tell details about the quantum of loan and duration for that?

[Rajkumar Agarwal]

State Bank of India is an Indian multinational, public sector banking and financial services company.

It is a government-owned corporation with its headquarters in Mumbai, Maharashtra

SBI Agricultural Gold Loans

Purpose

Bank extends hassle free finance to farmers / agriculturists against Gold Ornaments / gold wares to increase their liquidity to meet crop production expenses, Investment expenses related to agriculture and / or allied agricultural activities.

Eligibility

Any person engaged in agriculture or allied activities as well as persons engaged in activities permitted to be classified under agriculture.

Evidence of farming activity (like proof of Land records) is necessary.

Quantum of Loan

Upto 75% of the value of the ornaments.

Security

Pledge of gold ornaments.

Demand Loan / Term Loan:

The repayment period of the loan should be fixed so as to coincide with the harvesting and marketing season / generation of income from the activity, allowing 2 to 3 months time after harvesting to market the produce and realize the proceeds.

However, the total period will not generally exceed one year from the disbursement of the loan in the case of short-term loan / production credit and 36 months in other cases.

Contact:

State Bank of India
State Bank Bhavan, Madam Cama Road
Mumbai-400021.

SBI Office Phone Number: +91-22-22029456
SBI Office Fax Number: +91-22-22742431