HDFC Bank has introduced a special scheme called “HDFC Pashupalan Loan” to support farmers and livestock owners. Through this scheme, farmers can get financial assistance for cows, buffaloes, dairy businesses, poultry farming, and fish farming.
This loan is available at low interest rates and on easy terms, making it accessible to more farmers.
What is HDFC Pashupalan Loan?
HDFC Pashupalan Loan is a specialized loan scheme launched by HDFC Bank to promote livestock farming and agricultural businesses. Farmers and entrepreneurs can avail financial support for their dairy, poultry farming, fish farming, and other agriculture-related ventures.
Loan Amount and Usage
- Loan Limit: Up to ₹40 lakh from HDFC Bank.
- Loan Usage:
- Purchase of cows, buffaloes, and poultry
- Construction of sheds for animals
- Business expansion and purchase of equipment
Loan Eligibility Criteria
- Citizenship: The applicant must be an Indian citizen.
- Animal Documents:
- Health cards, tags, and census records of animals are mandatory.
- Animals must be healthy and free from diseases.
- Other Conditions:
- No outstanding loan from another bank on the animals.
- The applicant should not be a financial defaulter.
Loan Amount
- Cows: Up to ₹60,000 per cow
- Buffaloes: Up to ₹80,000 per buffalo
- Other Businesses: Loans are also available for dairy, poultry farming, and fish farming. The loan covers expenses such as animal purchases, shed construction, equipment purchase, and other essential needs.
Interest Rate and Repayment Period
- Interest Rate: The loan interest rate starts at 8.50%. The exact rate depends on the loan amount, the applicant’s credit profile, and the relationship with the bank.
- Repayment Period:
- Loan tenure ranges from 3 to 7 years.
- Flexible and easy repayment options are available.
Application Process
- Visit the Bank: Go to your nearest HDFC Bank branch.
- Get Information: Collect detailed loan information from the bank officer.
- Prepare Documents: Keep ID proof, address proof, and other necessary documents ready.
- Fill out the Application Form: Submit the completed form along with required documents.
- Verification Process: The bank will verify your application and animal documents.
- Loan Approval: If all conditions are met, the loan will be approved, and the amount will be credited to your account within 1-2 working days.
Conclusion:
HDFC Pashupalan Loan is an excellent financial scheme that helps farmers and livestock owners expand their businesses. It provides easy access to loans to meet essential needs. If you are interested in availing of this scheme, visit your nearest HDFC Bank branch today.