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What is the current farmer loan interest rate in India?

The farmer loan interest rate ranges from 7% to 15% per annum, depending on the type of loan, lender, and borrower profile. Some government schemes offer rates as low as 4% for eligible farmers.

How is the interest rate for farmer loans calculated?

The agriculture loan interest rate depends on the loan amount, tenure, borrower’s credit score, collateral, and lender’s risk assessment. Secured loans usually have lower interest rates.

Do different types of farmer loans have different interest rates?

Yes, crop loans, equipment loans, and agriculture land loan interest rate differ based on loan type, risk factors, and government subsidies.

Can I get a 0% interest farmer loan?

Some government programs offer 0% or highly subsidized interest rates on specific loans for small and marginal farmers under select schemes.

Does my credit score affect the interest rate on a farmer's loan?

Yes, a credit score above 750 helps secure lower interest rates, while a poor score may result in higher borrowing costs or loan rejection.

Are there any special interest rates for women farmers?

Yes, many government and private lenders offer discounted interest rates (0.5% to 1% lower) for women farmers under select schemes.

Are interest rates fixed or variable for farmer loans?

Farmer loans can have fixed or floating interest rates. Fixed rates remain constant while floating rates fluctuate based on market conditions.

Is there a minimum or maximum loan amount for a farmer loan?

Loan amounts vary between ₹10,000 to ₹2 Crore, depending on the lender, borrower’s income, and whether the loan is secured or unsecured.

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