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Banking,Financial Services and Insurance

Primary Cooperative Agriculture and Rural Development Bank: For Power Tiller

The scheme offers loans to farmers covering up to 90% of the cost of a power tiller, with an interest rate between 11% and 12.25%.

Authority

State/ UT

Region

Tamil Nadu

Status

Verified 2026

Updated

March 2026

What you get

- Access to Loan: Up to 90% of the cost of a power tiller. - Interest Rate: 11% to 12.25% (subject to change).

Who can apply

The beneficiary should be a resident of Tamil Nadu.; The beneficiary should be a farmer.; The beneficiary should be engaged in agricultural activities.; The beneficiary should be interested in availing of a loan for purchasing power tiller.; The beneficiary should have the intention to use the loan specifically for purchasing power tiller.

Required Paperwork

  • Aadhaar Card
  • PAN Card
  • Income Certificate
  • Residence Proof (Domicile)

Common Questions

What is the objective of this scheme?

The scheme offers loans to farmers covering up to 90% of the cost of a power tiller, with an interest rate between 11% and 12.25%.

Who is eligible for this scheme?

Farmers engaged in agricultural activities are eligible for this loan.

What is the purpose of this loan?

The loan is intended specifically for purchasing a power tiller to assist in farming activities.

What percentage of the power tiller’s cost is covered by the loan?

The loan covers up to 90% of the cost of a power tiller.

What is the interest rate on this loan?

The interest rate on the loan ranges from 11% to 12.25%.

Is the interest rate fixed or subject to change?

The interest rate is subject to change, depending on bank policies.

What documents are required to apply for the loan?

Required documents include proof of identity, proof of address, proof of farming etc.

Is there an age limit for eligibility under this scheme?

There is no specific age limit mentioned for eligibility.

Can applicants apply for this loan online?

Currently, applications must be submitted in person at a Primary Cooperative Agriculture and Rural Development Bank branch.

What is the repayment period for the loan?

The bank will specify the repayment period upon loan approval.