Faqs - L&T Finance

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What are the minimum and maximum age limits for farmer loan applicants?

Farmers must be between 18 to 65 years to qualify. Some lenders may relax the upper limit for specific government-backed schemes.

Is there a specific income requirement for farmer loans?

There is no fixed requirement, but a stable agricultural income improves loan eligibility. Some lenders may ask for sales receipts, tax returns, or bank statements.

What documents are needed to apply for a farmer loan?

Required documents include identity proof, address proof, land records, bank statements, and income proof. Additional documents may be needed for tenant farmers or larger loans.

What is the maximum loan amount a farmer can get?

The loan amount varies by lender and farm size, typically ranging from ₹10,000 to ₹50 lakh. Higher amounts may require collateral.

Do I need to provide collateral for a farmer loan?

Some loans require land, machinery, or equipment as collateral. However, many government-backed schemes offer collateral-free loans for small-scale farmers.

What repayment options are available for farmer loans?

Repayment can be structured as monthly, quarterly, or seasonal payments, allowing farmers to align EMIs with their harvest cycle. Some lenders offer flexible tenure options.

What are the basic eligibility criteria for a farmer loan?

Basic requirements include age between 18-65 years, land ownership or lease agreement, income proof, and a stable farming background. Credit score and repayment history may also be considered.

Is there a minimum landholding requirement for eligibility?

Some loans require a minimum landholding, while others cater to tenant farmers and sharecroppers. Government schemes often have relaxed landholding conditions.

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