ARF-FM (Scheme Loans - Farm Mechanisation)
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
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
|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
|Small tractor||Minimum hrs to make investment viable|
Actual cost as evidenced by invoices/quotation/vouchers/bill. For repair loan is based on estimate of work from authorized service agency.
|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 will be fixed by KCARDB from time to time, in accordance with the guidelines issued by RCS/NABARD/RBI
As fixed by KSCARDB in the respective loan rules, in accordance with the guidelines issued by RCS/NABARD/RBI.
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.