Top Banks Offering Loans For Poultry Farming; Eligibility, Repayment Period, Documents Required & Method To Apply

If you are planning to start a poultry farm and looking for banks or financial institutions that can help you with this then keep reading this article. Animal husbandry is an important branch of agriculture and many farmers depend upon it for their livelihood hence to boost the development in this area, Government along with national and private banks offer loans to farmers engaged in this field. Below we have listed top banks providing loans for Poultry Farming in India.

Poultry Farming Loans

SBI Poultry Loan

SBI Poultry Loan is for the existing as well as new farmers for setting up poultry shed, feed room and other equipments.

Eligibility - The farmers with adequate experience or knowledge in poultry farming and with land for setting up poultry sheds are eligible for this loan

Collateral Security - due to security reasons, farmers must mortgage of land on which the poultry shed & other infrastructure are available or planned to be constructed that should cover at least 50 percent of the advance.

Repayment Period - Five years including six months of a grace period in bi-monthly installments.

Documents required - Duly filled in application form along with Identity proofs like voter ID card/PAN card/Passport/Aadhaar card,/Driving License, etc. For Address proof they must submit Voter ID card/Passport/Aadhaar card/Driving license etc.

How to apply - Contact your nearest SBI branch for application form or you can also check the official website - https://sbi.co.in

SBI Broiler Plus Loan

State Bank of India offers loans to Broiler Farmers under Contract farming. This scheme gives loans to farmers for contract broiler farming, constructing & feed room and also for buying equipment.

Eligibility - those with enough experience or training in poultry farming and having land for constructing poultry sheds are eligible for this loan. The land must be at least 500 meters away from other poultry farms and have a potable water source.

Flock Size - The minimum flock size must be 5000 birds and financing can be done for 10,000 & 15, 000 birds or part thereof.

Loan amount - Up to 75 percent of the cost. The loan amount will be up to Rs 3 lakhs for every 5000-bird farm. The maximum loan amount is Rs 9 lakhs / farmer.

Security - For security, the person must mortgage of land on which the poultry shed & other infrastructure is available or planned to be constructed that must cover at least 50 percent of the advance.

Repayments - Loan must be repaid within five years and a grace period of six months is provided.

How to apply

In order to apply for the SBI loan, contact your nearest State Bank of India branch or check the official website https://sbi.co.in/

Punjab National Bank Loan

PNB offers loans for construction of sheds & purchase of equipments. It also provides production loans for buying day-old chicks, feed, medicines, etc.

Benefits of PNB loans

For subsidiary terms - the bank provides a medium-term loan for acquiring fixed assets & offers production credit for capital requirements as Short Term Loan.

Eligibility - Small farmers, landless agricultural laborer or others planning to supplement income via poultry with an adequate land/shed to set up poultry farm are eligible for loans.

For main activity - Investment credit will be provided as a medium-term loan while production credit will be given either in the shape of cash credit limit or as an integral component of investment credit.

Eligibility - concerned person must be running a poultry unit on a commercial basis. Should have land/shed to set up or extend a poultry farm.

Collateral Security - For security, the person must mortgage of land or Third-party guarantee.

Loan Amount - Loan amount actually depends on the type & size of poultry unit.

Repayment Period - 18/12 months in the case of layers & broilers. Repayment of investment loan would be over a period of 6 to 7 years in the case of small farmers depending upon their repaying capacity.

Documents required - Duly filled in application form with Identity proof (Voter ID card/PAN card/Passport/Aadhaar card,/Driving License) and valid address proof.

How to apply

Contact the nearest PNB branch and collect the loan application form. Or can check  https://www.pnbindia.in/

HDFC Bank loan

HDFC Bank provides financial support to farmers with experience in cultivating cash crops, plantations, poultry, animal husbandry, dairying, seeds, warehousing, etc. HDFC also finances the supplies for agri inputs such as seeds. HDFC bank provides loans for the setting up of small poultry (layer / broiler) for farmers & agricultural laborer. Farmers can get loan amount up to 100 percent on the cost of the asset or project cost.

Eligibility - All individual farmers, agricultural laborers with certificate or experience in poultry management can avail bank credit for poultry units. The applicant must be trained or technically qualified for running the unit.

Collateral Security - For security reasons, the person must mortgage of land / Third-party guarantee.

Loan Amount - Loan amount depends on type & size of poultry unit.

Repayment Period - Longer repayment period up to 5 years.

Documents required - Duly filled in application form with valid Identity proof and Address proof.

How to apply

To apply contact the nearest HDFC branch or visit the official website hdfc.com

IDBI Poultry Loan

The IDBIs loan benefits the existing & new farmers for setting up a poultry shed, feed room & other equipments.

Eligibility - Farmers with a thorough knowledge/understanding of poultry farming authenticated by a training certificate or experience certificate etc. are eligible for poultry loan.

Repayment Period - Six years.

Documents required - Duly filled in application form with identity proof as well as address proof like voter ID card/ Passport/Aadhaar card/Driving License.

How to apply

In order to apply for the poultry loan, contact the nearest IDBI branch and collect the application form. Also Check https://www.idbibank.in

Federal Bank Loan

Federal Bank offers Agri Allied Loans i.e. Animal Husbandry Loan, Dairy Loans and Poultry Loans. Farmers can avail loan amount up to 100 percent on the cost of the asset or project cost.

Eligibility - Applicants with proper knowledge of poultry farming substantiated by training certificate or experience certificate are eligible for Federal Bank loan.

Loan Amount - For the loan up to Rs.50,000 you can avail 100 % of the cost of the asset/project cost. Above Rs 50,000 you can avail up to 85 % of the cost of the asset/project

Repayment Period - Longer repayment period up to nine years

For more details check https://www.federalbank.co.in

Source: KRISHI JAGRAN