Do you know more than 1/5 th rural areas developed because of NABARD?
Are you a person from a rural area and want to start an entrepreneurship journey ?
You can get loans up to 1 lakh to 2 crore or more based on your project requirements.
Yes, we are talking about the National Bank for Agriculture and Rural Development which is one of the prominent regulatory bodies which is owned by the government of India. It is specifically made for giving micro credits and financial assistance for agriculture, infrastructure, village industries, poultry farms, cottages and artisans. It is 100% government owned under the ministry of Finance. Its vision is to improve rural empowerment and growth by giving them help.
You get loans with the interest rate, Agriculture upto 7% to 12%. Rural 8 to 12% and small scale upto 10 to 14% interest rate.
NABARD helps in overall assessment of rural areas and prepares detailed reports on all the districts of India. The financial and non financial requirements are done based on the necessity of a rural economy.
All you need is basic documents like Aadhar card, Pan card, sale deed of your agriculture land, were you would like to start infrastructure, project report, ration card, passport size photographs, recent bank statements.
The major objectives are to give a boost towards rural economy, introduce and help innovation in the rural sector, connecting rural areas with banking systems to overall growth. All you need is Applicant Profile: Indian citizens, individual farmers, agri-entrepreneurs, Self-Help Groups (SHGs), Joint Liability Groups (JLGs), and registered cooperative societies/FPOs.
Age Limit: Applicants must typically be between 18 and 65 years old.
Land Ownership: Many farming and infrastructure loans require clear land ownership or a registered lease agreement for a minimum of 15 years.
Income Criteria: For specific schemes like Dairy Farming, preference is often given to small and marginal farmers with an annual family income below ₹1,00,000.
From subsidies to yearly interest rate with affiliation with state,cooperative banks,regional, district and rural banks. It is the most affordable and policy model of government to empower and uplift the rural economy. NABARD works closely with banks to assure rural economies get wealth and generate new entrepreneurship.
