Overview of Agricultural Loan in Sonipat

Agricultural loans in Sonipat support farmers and agribusinesses by providing funds for crop cultivation, purchasing equipment, irrigation systems, or land development, fostering rural growth in Sonipat’s agrarian economy.

Eligibility Criteria

Criteria Details
Applicant Type Farmers, agricultural cooperatives, agribusinesses
Age 21–65 years
Land Ownership Owned or leased agricultural land
Income Stable agricultural income (varies by lender)
Credit Score 650+ (preferred, not mandatory)
Collateral Land, crops, or equipment (optional for some schemes)

Documents Required

  • Identity Proof: Aadhaar, PAN Card
  • Address Proof: Utility bill, Aadhaar
  • Land Documents: Ownership deed, lease agreement
  • Income Proof: Agricultural income records, ITR (if applicable)
  • Bank Statements: Last 6 months
  • Crop Details: Cultivation records or plan

Benefits of Agricultural Loan in Sonipat

  • Loans up to ₹50 lakh for farming needs
  • Low interest rates starting at 7% p.a.
  • Flexible tenures up to 7 years
  • Subsidized loans under government schemes
  • Support for equipment, seeds, and irrigation

Compare Agricultural Loan Lenders in Sonipat

Lender Interest Rate Loan Amount Tenure Processing Fee
State Bank of India 7% p.a. Up to ₹50 lakh 7 years 0.5%
NABARD 7.5% p.a. Up to ₹40 lakh 6 years 0.75%
HDFC Bank 8% p.a. Up to ₹30 lakh 5 years 1%

Frequently Asked Questions

What can an agricultural loan be used for in Sonipat?

Crop cultivation, purchasing equipment, irrigation, land development, or working capital.

Is collateral required for agricultural loans?

Collateral is optional for government-backed schemes; private lenders may require land or equipment.

How long does it take to get an agricultural loan approved?

7–15 days, depending on documentation and lender processing.

Are there government schemes for agricultural loans?

Yes, schemes like Kisan Credit Card and PM-KISAN offer subsidized loans.

Can tenant farmers apply for agricultural loans?

Yes, with valid lease agreements and income proof.

What happens if I default on an agricultural loan?

Lenders may seize collateral (if applicable), impose penalties, or report to credit bureaus, affecting future loan eligibility.

Promotional Offers for 2025

  • Interest rates starting at 7% p.a. for agricultural loans in Sonipat
  • Waived processing fees for applications before 31st May 2025
  • Free agricultural loan eligibility check via Loanpao
Apply Now

Related Pages

Sector 14 Sonipat

Sector 15 Sonipat

Model Town Sonipat

Kundli Sonipat

Ashok Vihar Sonipat

Dev Nagar Sonipat

Civil Lines Sonipat

Vikas Nagar Sonipat

Krishna Nagar Sonipat

Adarsh Nagar Sonipat

Patel Nagar Sonipat

Shanti Nagar Sonipat

Ram Nagar Sonipat

Laxmi Vihar Sonipat

Anand Vihar Sonipat

Saraswati Enclave Sonipat

Balaji Nagar Sonipat

Green Valley Sonipat

Surya Vihar Sonipat

Shivaji Park Sonipat

Friends Colony Sonipat

Bhagat Singh Nagar Sonipat

Sonipat City Center Sonipat

Jai Hind Colony Sonipat

Indira Colony Sonipat

Shiv Colony Sonipat

Subhash Nagar Sonipat

Housing Board Colony Sonipat

New Colony Sonipat

Balwant Colony Sonipat