State Bank of India (SBI) has rolled out the “SBI Animal Husbandry Loan Scheme 2025” to boost animal husbandry efforts. This initiative offers loans ranging from Rs 1 lakh to Rs 10 lakh for animal breeders looking to grow their businesses. The application process is now open, so anyone interested should jump on it quickly.
Purpose of the SBI Animal Husbandry Loan Scheme
The primary goal of the SBI Pashupalan Loan Yojana is to support animal husbandry in rural areas and enhance farmers’ incomes. This scheme aims to help animal keepers expand their operations and achieve financial independence.
Loan Amount and Interest Rate
Through this scheme, livestock farmers can access loans between Rs 1 lakh and Rs 10 lakh. The interest rate starts at a competitive 7%, which is lower than many other loan options. Additionally, loans up to Rs 1.6 lakh are available without needing any collateral.
Loan Repayment Period
Borrowers can repay the loan over a period of 5 to 7 years, making it more manageable for livestock farmers to settle their debts.
Eligibility Criteria for the SBI Animal Husbandry Loan Scheme
Applicants must be Indian citizens with permanent residency in India. This loan is aimed at individuals looking to engage in animal husbandry on a commercial scale. Small farmers and commercial breeders can apply, as well as those who already have an animal husbandry business and wish to expand. It’s important that applicants do not have any existing loans and have a bank account at the branch where they are applying for the loan.
SBI Animal Husbandry Loan Scheme Required Documents
– Aadhar card
– PAN card
– Permanent Residence Certificate
– Bank account statement
– Project Report on Animal Husbandry
SBI Animal Husbandry Loan Scheme Benefits
1. Enjoy low interest rates starting at 7%.
2. You can get a loan of up to Rs 1.6 lakh without needing any collateral.
3. The application process is quick, with approvals often within 24 hours.
4. Repayment terms are flexible, ranging from 5 to 7 years, making it easier to manage.
SBI Animal Husbandry Loan Scheme Application Process
1. Start by visiting your nearest SBI branch.
2. Chat with the bank staff to get the latest details on the Animal Husbandry Loan Scheme.
3. Request the Animal Husbandry Loan Application Form and fill it out carefully.
4. Attach the necessary documents to your application.
5. Once everything is in order, hand in your application and documents to the bank staff.
6. A bank representative will come to check out the animal husbandry land and facilities you’ve chosen.
7. If all goes well according to the scheme’s guidelines, the bank will approve your loan.