AXIS Bank provides agri business loans that can be used by the farmers, cultivators and people engaged in similar or allied businesses. Agriculture forms the base of the country and agricultural loans help in the betterment of the agricultural sector and helps in the economic development by the growth of the agrarian sector.
AXIS Bank Agriculture Loan has several variants and they are:
- Kisan Power: This is the loan that is given to the farmers to meet the cultivation needs like input purchase, investment in bullocks, equipments and other. Owner cultivators, tenant cultivators and even share croppers are eligible for the loan. The minimum loan amount is Rs 25,001 and the maximum loan amount is Rs 25,00,000.
- Powertrac: This AXIS Bank Agriculture Loan is used for purchase of agricultural equipments and agriculturist who is a major can apply for this loan but with a guarantor. As far as documentation is concerned, the application form along with the photograph of the applicant and the co-applicants is needed. The borrower’s land records as well as identity proof are also required.
- Commodity Power: This is a short term loan and the person applying for the loan must be able to produce warehouse receipts from the following: SWC or CWC warehouses and Other licensed warehouses, cold storages. Agri-input dealer, Farmer, Trader who is the original goods depositor and has no default history in any bank account is eligible for the loan.
- Contract Farming: Farmers having cultivable fertile land of over 3 acres can get this loan for a period which is equal to the duration of the crop plus2 months.
- Power Gold: Loan against gold ornaments! This loan requires minimum documentation and is available only in selected locations. The individuals who are engaged in agriculture and other allied activities can get this loan.
- Arthia Power: This is a cash credit facility for the commission agents. With the maximum granted loan of 40 lacs, the repayment needs to be done on demand.