THE KERALA STATE CO-OPERATIVE AGRICULTURAL AND RURAL DEVELOPMENT BANK LTD(KSCARDB)

Comprehensive Rural Development Through Credit

ARF-FM (Scheme Loans - Farm Mechanisation)

  • Objective

    The object of the scheme is to provide credit for the purchase of new tractor/new tractor for 2nd time/tractor rennovation/repair/replacement of spares/small tractors (GOI ) scheme/power tiller/thresher/power sprayer

  • Eligible borrower

    Individual /groups

  • Minimum time for 2nd new tractor/renovation/repair

    3yrs from date of purchase of 1st tractor for 2nd new tractor & Above 5yrs and below 12yrs from the date of manufacture for renovation/repair.

  • Minimum land holding

    Sl Scheme Land Holding
    1 Tractor 8 acres
    2 Small Tractor 6 acres
    3 Power tiller 5 acres
    4 Threshers Power Sprayers Minimum land holding to make the investment viable
  • Minimum hours of productive work/year

    Scheme Hours
    Tractor 1000
    Power tiller 600
    Threshers 315
    Power sprayer 250
    Small tractor Minimum hrs to make investment viable
  • Maximum loan

    Actual cost as evidenced by invoices/quotation/vouchers/bill. For repair loan is based on estimate of work from authorized service agency.

  • Repayment period

    Scheme Years
    Tractor/2nd time hector 9 yrs
    Repair of tractor 5 yrs
    Thresher/power sprayer 12 yrs
    Small tractor (GOI) 12 yrs
    Power tiller 7 yrs
  • Interest rate

    Interest rate will be fixed by KCARDB from time to time, in accordance with the guidelines issued by RCS/NABARD/RBI

  • Security

    As fixed by KSCARDB in the respective loan rules, in accordance with the guidelines issued by RCS/NABARD/RBI.

  • Reporting system

    The monthly farm mechanization loan disbursement progress statement should be furnished to the apex bank in the prescribed formats

  • Mode of Repayment

    In equated installments.