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HDFC Bank offers a wide range of agricultural loans to meet a variety of financing needs related to agriculture including farming of staple and cash crops, horticulture, dairy farming, food processing as well as transportation and warehousing of agricultural products. Read this article to know key details regarding various types of HDFC Bank agricultural loans.
Table of Contents
- Features of HDFC Bank Agricultural Loan
- Interest Rates
- Types of HDFC Agricultural Loan
- Eligibility Criteria
- Documents Required for Agricultural Loan Application
- EMI Calculation for HDFC Bank Agriculture Loan
- Comparison of HDFC Bank Agricultural Loan with Other Lenders
- Benefits of HDFC Bank Agricultural Loan
- Customer care
- Important Aspects
- FAQs
Features of HDFC Bank Agricultural Loan
Features of the major agricultural loans offered by HDFC Bank have been discussed in this section.
A. HDFC Kisan Credit Card
- Types
- Cash Credit/ Over draft: It can be used to meet cost of crop production, repair, maintenance, and post-harvest activities.
- Term Loan: It can be used for investment purposes, such as land development, purchase of irrigation equipment or farm implement.
- Loan Quantum: Based on land under cultivation, scale of finance and cropping pattern.
- Security Requirement
- Primary: The crops and assets created using the loan amount.
- Collateral: Agricultural land/ liquid security/ urban property.
- Repayment Tenure: 5 years
B. HDFC Small Agri Business Loan
- Offered to individuals and companies.
- Collateral: Residential/ industrial/ commercial property or cash and liquid collateral.
- Repayment Tenure: 1 year with annual reversal.
C. HDFC Kisan Shakti Loan
- Offered to large farmers with an additional source of income from non-farm activities.
- The loan amount can be used for land leveling, fencing, deepening of well and ringing, soil reclamation, repair and replacement of irrigation system or farm machinery/ implement, and domestic consumption needs.
- Security Requirements
- Primary: The assets created using the loan amount.
- Collateral: Agricultural land or urban property or liquid security.
D. HDFC Horticulture Loan
- Types
- Cash Credit/ Over draft: For cost of crop production, expenses towards consumption, post harvest or repair and maintenance.
- Term Loan: For investment purposes, such as purchase of irrigation equipment or farm implement.
- Security Requirements
- Primary: The corps and assets created out of the loan amount.
- Collateral: Liquid security/ agricultural land/ urban property.
- Repayment Tenure: 5 years
HDFC Agricultural Loan Interest Rate
The interest rate offered by HDFC Bank on various types of agricultural loans is not fixed, and varies depending on the applicant’s profile and the desired loan parameters. The exact HDFC Bank Agricultural Loan interest rate is communicated to an applicant through the loan agreement provided prior to disbursal.
Types of HDFC Agricultural Loan
HDFC Bank offers multiple types of agricultural loans depending on whether you are a farmer, an agricultural businessperson or a trader as well as the purpose for which you need the HDFC agricultural loan.
The following table summarizes the key types of agricultural loans offered by HDFC Bank.
| Type of Agricultural Loan | Variants of the HDFC Agricultural Loan | Brief Description |
| HDFC Kisan Credit Card | Cash Credit/ Overdraft
Term Loan |
HDFC Kisan Credit Card under the Government’s Kisan Credit Card (KCC) scheme is offered to farmers for financing a variety of agricultural expenses such as crop production, post-harvest maintenance, purchase of farm equipment, construction of storage structures, etc. |
| Small Agri Business Loan | Working Capital
Term Loan Working Capital Demand Loan EPC Bank Guarantee |
It is a secured agricultural loan for agri traders, exporters, food processing firms, etc. |
| Pledge Loan – Warehousing Receipt | N/A | This loan allows you to get a loan against the commodities stored in your warehouse. |
| Kisan Shakti Loan | Cash Credit
Over draft Drop Line Over Draft Term Loan |
It is offered to large farmers, who have an additional source of income from non-farming activities. The loan can used for soil reclamation, leveling, fencing, repairing of irrigation system, etc. |
| Tractor Loan | Secured or unsecured loan for purchase of new/old tractors and farm equipment. Agricultural land can be used as collateral to avail this loan. | You can get a loan up to 90% of the tractor’s cost with a repayment tenure up to 7 years. |
| Horticulture Loan | Cash Credit/ Over draft
Term Loan |
Farmers can avail this loan for activities related to setting up or maintaining a nursery, orchard, green house, etc. |
| Allied Activities Loan | N/A | This loan can be used for allied agricultural activities, such as poultry, dairy, fisheries, etc. |
Eligibility Criteria for HDFC Bank Agricultural Loan
| Loan Type | Eligibility Criteria |
| Kisan Card/ Kisan Gold Card | You should be a farmer.
You should own an agricultural land and be actively engaged in cultivation of crops. |
| Small Agri Business Loan | Your business should be operational for at least 3 years at the same location, otherwise 5 years.
Your tangible net worth and profit after tax should be positive for at least 2 out of the previous 3 financial years. Eligibility also depends on other factors like over drawings, credit utilization ratio, number of cheque returns, etc. |
| Pledge Loan – Warehousing Receipt
|
You should be a farmer or trader.
You should have been storing produce in warehouse or cold storage. |
| Kisan Shakti Loan | Large farmers with an additional source of income from non-farming activities. |
| Tractor Loan | Applicant must be within the 18 to 60 years age-group.
You should have a minimum annual income of Rs. 1 lakh, if you are a farmer and Rs. 1.5 lakh if you belong to commercial segment. |
| Horticulture Loan | You should be an individual farmer or have a joint borrower.
Applicant must be at least 18 years old and no more than 60 years of age. Mandatory co-signing of legal heir is required if you are above 60 years old. |
Documents Required
For HDFC Kisan Gold Card
- Duly filled loan application form.
- Government-issued KYC documents of Borrower/Co-borrower/Guarantor;
- Copy of Land records;
- Copy of Government land rate of agriculture land;
- Latest updated passbook/bank statement.
For HDFC Small Agri Business Loan
- Loan application form;
- KYC Documents, including MOA & AOA/ Partnership Deed/ COI);
- Proof of property and income;
- Bank account statement for the last 6 months;
- Stock and Receivables statement;
- Proof of Business Registration Proof;
- Repayment track record of any existing loan;
- Value of last 6 months’ stock as well as details of debts on letter head.
For HDFC Pledge Loan – Warehousing Receipt
- Land Documents.
- Proof of Address, which may include voter ID card, telephone bill, electricity bill, Aadhaar card, etc.
- Proof of Identity/ Signature, which may include PAN card, voter ID card, driving licence, etc.
For HDFC Tractor Loan
- Loan application form;
- Latest photograph;
- Aadhaar Card (Mandatory);
- Proof of Identity and Signature;
- Proof of Address;
- Proof of Land Ownership.
For HDFC Horticulture Loan
- Loan application form;
- KYC of borrower/ co-borrower/ guarantor;
- Land records;
- land rate of agriculture land;
- Updated passbook/ bank account statement.
EMI Calculation for HDFC Bank Agriculture Loan
The following table shows the calculated EMI amounts for a HDFC Agricultural Loan based on different loan amounts, interest rates and tenures. You can use Paisabazaar personal loan EMI calculator to calculate the specific EMI amount applicable to your HDFC agricultural loan.
| Loan Amount (Rs.) and Interest Rate |
Monthly EMI Payout (Rs.) |
||||
| 1-year loan tenure | 2-year loan tenure | 3-year loan tenure | 4-year loan tenure | 5-year loan tenure | |
| Rs. 4 lakh @ 10% | 35,166 | 18,457 | 12,906 | 10,145 | 8,498 |
| Rs. 5 lakh @ 9% | 43,725 | 22,842 | 15,899 | 12,442 | 10,379 |
| Rs. 7 lakh @12% | 62,194 | 32,951 | 23,250 | 18,433 | 15,571 |
Comparison of HDFC Bank Agricultural Loan with Other Lenders
The following table compares HDFC Bank Agricultural Loan to similar offerings from other leading banks in India:
| Comparison Criteria | HDFC Bank | Central Bank of India | IndusInd Bank | ICICI Bank | |
| Interest Rate | Varies on case to case basis | 7% onwards | 7.5% onwards | 9.5% onwards | 9.6% onwards |
| Tenure | Up to 7 years |
Varies as per the loan type, but generally up to 5 years |
Variable, generally up to 7-8 years | Up to 5 years | Up to 4 years |
| Loan amount | Varies on case to case basis | Up to Rs. 50 lakh | Up to Rs. 2 crore | Varies on case to case basis | Varies on case to case basis |
Benefits of HDFC Bank Agricultural Loan
- Flexible end-use: HDFC Bank offers a variety of agricultural loans as per your unique financing needs. You can avail the loan to meet expenses related to crop production, purchase of farm machinery, managing post-harvest expenses, setting up dairy/poultry farms and even for setting up a nursery.
- Minimum Documentation: You can get HDFC Agricultural Loan with minimal documentation which is simple to complete.
- Security: You can avail both secured and collateral-free loan depending on the loan type and the desired loan amount.
HDFC Bank Customer Care
Following are the customer care details for HDFC Bank.
- Phone Number: You can call on 6160-6161, if you are a resident of Ahmedabad , Bangalore, Chennai, Delhi & NCR, Hyderabad, Kolkata, Mumbai or Pune. While you can call on 6160-616, if you are a resident of Chandigarh, Cochin, Indore, Jaipur or Lucknow.
- HDFC Online Help: You can access this facility through the HDFC Bank official website, in case you have a query, complaint or feedback.
- Virtual Assistant/ Chatbot, “Eva”: You can also use the HDFC Bank chatbot to get an answer to your queries. You can access Eva by visiting the bank website.
- Visit Bank Branch: Alternatively, you can visit the nearest HDFC Bank branch in person to get a resolution to your queries.
Important Aspects to Consider While Applying for an Agricultural Loan
You should keep the following points in mind while applying for an agricultural loan:
- Ensure that you meet all the applicable eligibility criteria before applying for an agricultural loan.
- You should have all the required documents handy for the specific loan type offered by HDFC bank.
- Maintain a good repayment history to have a high credit score.
- Keep a balance between the quantum of secured and unsecured loans availed by you.
- Do not use a large proportion of the total credit available to you. This will keep your credit utilization ratio remains low, ideally below 30% which will improve your chances of getting your loan sanctioned.
Frequently Asked Questions (FAQs)
Q1. What are the various types of agricultural loans offered by HDFC Bank?
Ans. The various types of agricultural loans offered by HDFC Bank are:
- Kisan Credit Card Loan
- Small Agri Business Loan
- Pledge Loan – Warehousing Receipt
- Kisan Shakti Loan
- Tractor Loan
- Horticulture Loan
- Allied Activities Loan
Q2. What is the interest rate on HDFC Agriculture Loan?
Ans. The interest rate on HDFC Bank Agriculture Loan is not fixed and depends on applicant’s profile and the desired loan parameters. The details decided on a case by case basis are communicated through the loan agreement.
Q3. Who can apply for HDFC Kisan Credit Card?
Ans. Farmers, who own an agricultural land and actively cultivate crops can apply for HDFC Kisan Credit Card.
Q4. What is the repayment tenure for HDFC Tractor Loan?
Ans. The repayment tenure for HDFC Tractor Loan can go up to 7 years.
Q5. Do I need to pledge collateral to avail HDFC Kisan Shakti Loan?
Ans. Yes, you need to pledge security to avail HDFC Kisan Shakti Loan.
Q6. What is the customer care email address of HDFC Bank?
Ans. The customer care email address for HDFC Bank is support@hdfcbank.com.
Q7. How can I calculate EMIs for my agricultural loan?
Ans. You can use the Paisabazaar EMI Calculator to calculate the EMIs for your agricultural loan.
Q8. How can I find the nearest HDFC Bank branch?
Ans. You can use branch locator on the HDFC Bank website to find the nearest branch of the bank easily.