Nabard Dairy Loan Apply Online: With the aim of increasing milk production in India, the Government of India has introduced a new program called NABARD Dairy Loan Scheme. This initiative provides loans to support farmers, especially for dairy farming. The target is to reach out to 30 crore farmers and provide them with the benefits of this scheme. For more details on how to apply for the loan, who is eligible and the subsidies available, refer to the article below.
Nabard Dairy Loan Apply Online
| Name of the scheme | NABARD Dairy Loan Scheme |
| Objective | Promotion of milk production |
| Beneficiary | Pastoralists and farmers |
| Loan | 13 lakh rupees |
| Subsidy | 25% to 50% |
| Official website | https://www.nabard.org/ |
Nabard Dairy Loan Apply Online
The NABARD Dairy Loan Initiative aims to boost milk production and dairy farming in rural areas. Managed by the National Bank for Agriculture and Rural Development, the program offers loans of up to Rs. 13 lakh to support the establishment of dairy businesses or milk production enterprises.
This program provides assistance in acquiring machinery, establishing essential infrastructure, and acquiring equipment needed for dairy activities.
Objective of NABARD Dairy Loan Scheme | Objective
Dairy Entrepreneurship Development: To promote the development of dairy businesses across the country through the program.
Dairy Sector Renewal: Enhancing the dairy sector through implementation of cutting-edge technology to improve the standard of production.
Increasing employment in rural areas: Creating new jobs in rural areas to reduce unemployment.
Increase in annual income of farmers: The objective of this program is to empower farmers by providing self-employment opportunities, ultimately increasing their annual earnings.
Starting a New Business: This initiative aims to create new business opportunities in rural areas, which improve the livelihoods of low-income and middle-class families.
Eligibility for taking dairy loan | Eligibility
The Dairy Loan Scheme provides financing for those looking to start a dairy farm, certain requirements must be met to qualify for the loan.
- To qualify for the program, loan applicants must demonstrate a clear goal to increase their milk production.
- Information about a suitable location is important when considering starting a dairy farm.
- The applicant must provide comprehensive details regarding their income and financial situation.
- It is important to ensure that the animals have a health certificate.
Documents for Dairy Loan | Documents
- Aadhar card
- PAN card
- Bank account passbook
- Proof of address
- Income certificate
- Business information
- Data related to the purpose of opening a dairy, total costs and equipment costs.
- Documents related to the land where the dairy was opened
- Official record of current livestock kept by the applicant
- Passport size color photo
- Mobile number
Interest rate on dairy loan | Interest Rate
The NABARD Dairy Loan Scheme offers competitive interest rates compared to similar loans in the market. The participating banks in the scheme generally offer loans at interest rates ranging from 4% to 9%, depending on their individual policies. This low interest rate can help dairy farmers save money on their borrowing costs.
Under the NABARD Dairy Loan Scheme, borrowers are eligible for a subsidy of 25% to 50% provided by the government.
How to get NABARD Dairy Loan?
You have the option to apply for a loan through the NABARD Dairy Loan Scheme by visiting your local bank in person. The steps required to get a loan from a bank participating in the NABARD Dairy Loan Scheme are as follows:
- Start by finding the nearest bank branch that offers dairy loans as your first step .
- Get the loan application form for NABARD Dairy Loan Scheme directly from the bank.
- Please be sure to provide accurate and complete information in the form.
- Following this step, please include photocopies of all required documents with the loan application form .
- Present this form to the bank representative for processing.
- The bank officer will review your paperwork and evaluate your credit score from CIBIL .
- A bank representative will visit your workplace and livestock in person for inspection.
- After the physical verification process is completed, the loan funds from the NABARD Dairy Loan Scheme will be transferred directly to your designated bank account.
| Official website | View |
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