About this banking scheme
The scheme offers loans to farmers covering up to 90% of the cost of a power tiller, with an interest rate between 11% and 12.25%.
The "Primary Cooperative Agriculture and Rural Development Bank: Power Tiller" scheme launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, aims to provide financial assistance to farmers for purchasing a power tiller, with up to 90% of the cost covered through a loan. This initiative aims to support agricultural productivity by making essential farming equipment more accessible. The interest rate on the loan ranges from 11% to 12.25%.
Benefits at a glance
| Scheme name | Primary Cooperative Agriculture and Rural Development Bank: For Power Tiller (PCARDBPT) |
|---|---|
| Launched by | Co-operation, Food and Consumer Protection Department |
| Benefit type | Cash (money paid to your bank account) |
| Category | Banking |
| Level / State | State · Tamil Nadu |
| Official portal | tn.gov.in (link at the end of this page) |
Key facts
| Scheme for | Individual |
|---|---|
| Application mode | Offline |
| Last date | Ongoing (no last date notified) |
| DBT (direct bank transfer) | No |
| Age | 18 to 55 years |
Who can apply (quick check)
- 👤All genders
- 🎂Age 18 to 55 years
- 💼Farmer
- 📝Offline
Quick check from official data. Full conditions are in the Eligibility section.
What you receive
- Access to Loan: Up to 90% of the cost of a power tiller.
- Interest Rate: 11% to 12.25% (subject to change).
Who qualifies
- The beneficiary should be a resident of Tamil Nadu.
- The beneficiary should be a farmer.
- The beneficiary should be engaged in agricultural activities.
- The beneficiary should be interested in availing of a loan for purchasing power tiller.
- The beneficiary should have the intention to use the loan specifically for purchasing power tiller.
Who is not eligible
<br>
Papers to keep ready
0/4 documents ready
Tap a document to mark it as ready. Progress is saved on this device.
Registration walkthrough
Offline
Step 1: The interested applicant should collect the application form by contacting the Secretary/ Special Officer of the Primary Cooperative Agriculture and Rural Development Bank.
Step 2: In the application form, fill in all the mandatory fields, paste the passport-sized photograph (signed across, if required), and attach copies of all the mandatory documents (self-attest, if required).
Step 3: Submit the duly filled and signed application form along with the documents to the concerned authority.
Step 4: Request a receipt or acknowledgment from the concerned authority to whom the application has been submitted. Ensure that the receipt contains essential details such as the date and time of submission, and a unique identification number (if applicable).
Frequently asked questions
What is the objective of this scheme?
The scheme offers loans to farmers covering up to 90% of the cost of a power tiller, with an interest rate between 11% and 12.25%.
Who is eligible for this scheme?
Farmers engaged in agricultural activities are eligible for this loan.
What is the purpose of this loan?
The loan is intended specifically for purchasing a power tiller to assist in farming activities.
What percentage of the power tiller’s cost is covered by the loan?
The loan covers up to 90% of the cost of a power tiller.
What is the interest rate on this loan?
The interest rate on the loan ranges from 11% to 12.25%.
Is the interest rate fixed or subject to change?
The interest rate is subject to change, depending on bank policies.
What documents are required to apply for the loan?
Required documents include proof of identity, proof of address, proof of farming etc.
Is there an age limit for eligibility under this scheme?
There is no specific age limit mentioned for eligibility.
Can applicants apply for this loan online?
Currently, applications must be submitted in person at a Primary Cooperative Agriculture and Rural Development Bank branch.
What is the repayment period for the loan?
The bank will specify the repayment period upon loan approval.
Submit your application yourself on the official portal; it costs nothing. Treat anyone demanding money to "get you approved" as a scam.
tsmpb.in is not affiliated with any government department. Apply only on the official portal and never pay anyone for an application.
Explore more
