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India's economy is based primarily on agriculture, which is why the country prospers. Farming involves a wide range of operations. In advanced farming, a multitude of methods, tools, and techniques are used. Due to their limited resources, the majority of Indian farmers must choose to take out agricultural loans to meet their needs.


Personal loan for agriculture is available to farmers that can be used for a variety of purposes, including land purchase, facilities and materials, machinery, seeds, farm upkeep, crop insurance, and so on. Farming is a cyclical activity, and farmers need financial assistance to get through periods of inactivity, several commercial banks in India provide farmers with convenient loans and credit access.

Uses of Personal Loan for Agriculture

Personal loans for agriculture are available in India for a variety of agricultural endeavours, including animal husbandry, horticulture, floriculture, silk production, aquaculture, pisciculture, and apiculture. An agriculture loan often covers the following areas:

  • Taking care of daily activities

  • Acquisition of tractors, farm machinery, and other agricultural equipment

  • Purchase of agricultural lands

  • Arranging storage spaces

  • Costs associated with moving goods from farms to marketplaces

  • Increased agricultural activity

  • In addition to them, there are financial assistance programs like subsidies that safeguard the farmer in the case that crops are harmed by weather or other circumstances

Features and Benefits of Personal Loans for Agriculture



End-use flexibility

Agricultural loans can be used to cover a range of costs associated with farming, such as the purchase of new lands or livestock, or to manage operating costs and other connected costs.

Various types of loans

There are various sorts of agricultural loans based on the purpose and length of payback

Very little documentation 

A personal loan for agriculture can typically be obtained with straightforward and little documentation.

Optional collateral

The amount of loan and application profile determines whether secured or unsecured personal loans for agriculture are granted.

Overall, the main benefit of agricultural loans is to supply credit flow for the country's farming sector to operate efficiently, this has to do with output volume and productivity.

Top Lenders Offering Personal Loans for Agriculture

To fulfil any capital requirements related to agriculture, it is crucial to choose the appropriate lender, the following list includes some of India's top lenders that offer personal loans for agriculture:

  • Bajaj Finserv: One such prominent NBFC, Bajaj Finserv, is just one of those banks and NBFCs in India that offer personal loans, offering a larger loan amount at a tempting interest rate. Everything is handled by a personal loan from Bajaj Finserv.
  • Axis Bank: For many years, Axis Bank has offered a variety of financial assistance programs to farmers, including tractor loans, the Kisan Credit Card (KCC), financing for warehouse receipts, gold loans, loans for rural godowns, etc.  The lender has approved the sum for product manufacturing and supply. 

  • State Bank of India: The market leader for financing agriculture is SBI. It has a vast branch network scattered throughout the nation and provides loans, SBI provides a wide range of services to support agricultural and related industries.


Interest Rates and Charges on Personal Loans for Agriculture

Bank /NBFC

Interest Rates


Bajaj Finserv

12.00% - 16.00%


State Bank of India

7.25% p.a. onwards


Axis Bank



Interest rates mentioned in the above table can vary from one lending partner to the other and are subject to change.

Eligibility Criteria for Personal Loan for Agriculture

The personal loan for agriculture is open to all types of farmers, including small and marginal, sharecroppers, leaseholders, and tenant farmers, but these are the typical eligibility requirements:

  • The candidate must fall within the range of 23 and 59 years old.

  • The required assets must be owned by the debtors and funded by the taxpayer to the institution once the loan has been taken out.

  • Depending on the terms and conditions of the lender, loans may be applied for either individually or jointly.

Documents Required for Personal Loan for Agriculture

The documentation needed to apply for farm loans is relatively simple. These consist of:

  • Acceptable photo identification.

  • Real address verification.

  • Evidence of ownership of the land, money receipts, a list of rights, etc.

  • Kisan credit card, all farmers have been issued this card.


Personal loan for agriculture is given to farmers to help them with their farming endeavours. An agribusiness needs money to get started. Banks offer loans to farmers in simple phrases. This money can be used for a variety of things, such as buying machinery, buying supplies, paying for land expenses, refinancing an existing loan, running marketing strategies, investing in expansion, etc.


Thanks to modern technology, submitting a loan application online is simple, check the rate of interest on agricultural loans before applying, and after you get your loan, utilise it to take your farm or agribusiness to heights of success.

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