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Meghalaya Rural Bank

Agricultural Loans

Purpose To provide credit to the weavers to meet their credit requirement – working capital or term loan or both.
Eligibility  All weavers and ancillary workers involved in weaving activities.
Age
  • Minimum: 21 years
  • Maximum: 65 years
Maximum Limit Rs 2.00 lakh
Margin
  • For limit up to Rs 25,000 : NIL
  • For limit above Rs 25,000 : 20%
Interest Rate  As per Bank's guidelines.
Target Group Any farmer, Agricultural labourers, Self-Help Groups (SHGs), Joint Liability Groups (JLGs).
Age
  • Minimum: 21 years
  • Maximum: 65 years
Loan Amount No Minimum or Maximum limit of land amount. However, loan amount will depend on the actual cost of tractors / power tiller and implements as per the invoices/ quotations.
Margin Minimum 15%
Interest Rate  As per Bank's guidelines
Purpose All types of Allied Activities such as Dairy, Poultry, Piggery, Goatery, Duckery, & Fisheries etc.
Target Group Individuals (singly or jointly), Farmers, Agricultural labourers, Self-Help Groups (SHGs) and Joint Liability Groups (JLGs).
Age Minimum 21 years ; Maximum: 65 years
Loan Amount Depends on indicative unit cost and scale of finance, etc.
Margin
  • For loan up to Rs. 1,00,000/- No Margin
  • For loan above Rs. 1, 00,000/- 15% to 20% of total project cost.
Interest Rate As per Bank's guidelines
Purpose Cultivation of Plantation and Horticulture crops, Plough Bullocks, Minor Irrigation, Land Development etc.
Target Group Individuals (singly or jointly), Farmers, Agricultural labourers, Self-Help Groups (SHGs) and Joint Liability Groups (JLGs).
Age Minimum 21 years ; Maximum: 65 years
Loan Amount Depends on indicative unit cost and scale of finance, etc.
Margin
  • For loan up to Rs. 1,00,000/- No Margin
  • For loan above Rs. 1, 00,000/- 15% to 20% of total project cost.
Interest Rate As per Bank's guidelines
Objectives To make the small and marginal holdings economically viable by bringing fallow lands and waste lands under cultivation and by stepping up agricultural production and productivity.To finance the share croppers / tenant farmers to purchase land to enable them to increase their income
Target Group & Eligibility
  • Small and Marginal Farmers, share croppers and tenant farmers.
  • Small and Marginal Farmers are those who would own maximum of 5 acres of non-irrigated land or 2.5 acres of irrigated land including the one to be purchases under the scheme.
Age
  • Minimum: 21 years 
  • Maximum: 65 years
Loan Amount
  • Minimum : Rs. 25,000.00
  • Maximum : Rs. 5,00,000.00
Margin Minimum 5% of Total Project Cost
Interest Rate  As per Bank's guidelines
Purpose Cultivation of short-term crops (Short Term Seasonal Agricultural Operations) and meeting contingency expenses subject to 20% of the peak credit limit.
Target Group All farmers, individuals (singly or jointly), tenant farmers, oral lessees, share croppers, SHGs and Joint Liability Groups
Age
  • Minimum: 21 years 
  • Maximum: 65 years
Loan Amount Credit limit is based on operational land holding, cropping pattern and scale of finance.
Margin
  • For loan up to Rs. 1,00,000/- No margin
  • For loan above Rs. 1,00,000/ Margin - 15% to 25%
Interest Rate  As per Bank's guidelines
General Features of JLGs
  • A Joint Liability Group (JLG) is an informal group comprising a 4-10 individuals coming together for the purpose of availing Bank Loan on individual basis or through Group mechanism against mutual guarantee.
  • Generally, the members of a JLG would engage in a similar type of economic activity in the Agriculture and Allied sector.
  • The members would offer a Joint Undertaking to the Bank that enables them to avail loans.
  • JLG members are expected to provide to each other in carrying out occupational and social activities.
Size of the Group The group size should preferably be between 10 to 20 members.
Age
  • Minimum: 21 years
  • Maximum: 65 years
Loan Amount No Minimum or Maximum limit
Margin There is no margin requirement. The group corpus /savings are treated as Margin.
Interest Rate  As per Bank's guidelines  
Purpose To provide relief and remove debt burden of identified, actually distresses farmers who are under heavy burden of debt from non-institutional source (i.e. money lenders) by providing them loan for debt redemption. This is a loan given to farmers to offset their loan from money-lenders
Eligible Borrower
  • Small and marginal and agricultural labourers.
  • All borrowers regular in payment, non-borrowers and tenant farmers who approach as a Self-Help Group or Joint Liability Group are also eligible for this loan.
  • Existing willful defaulters of the bank will not be eligible.
Age
  • Minimum: 21 years
  • Maximum: 65 years
Loan Amount
  • Maximum: Rs. 50,000/-
  • However, actual loan amount shall be determined after proper verification/ identification of beneficiaries and obtaining in writing details like name and address of money lenders, amount of debt, date of creation of debt, etc.
Margin NIL
Interest Rate  As per Bank's guidelines
Purpose Loan granted by the Bank to the SHGs for income generation activities, social needs like housing, education, marriage, etc. and debt swapping etc.
Target Group Business Facilitators, NGOs, Farmers Clubs, Farmers Associations, Panchayat Raj Institutions (PRIs), Krishi Vikas Kendras (KVKs), State Agriculture Universities (SAUs), Agriculture Technology Management Agency (ATMA), Bank Branches, PACs, other co-operatives, Govt. Deptt., Individuals, Input Dealers and Document Writers (in co-operative Banks), MFIs/MFOs etc.
Age
  • Minimum: 21 years
  • Maximum: 65 years
Loan Amount No minimum or maximum limit of loan amount. However actual loan amount shall be determined after proper assess of individual credit needs. Suitable rating tools may be used for the purpose.
Margin

JLGs in Farm Sector:

  • Loan up to Rs. 100,000 /-  :  NIL
  • Loan above Rs. 100,000 /- : Minimum 15%

JLGs in Non-Farm Sector:

  • Loan up to Rs. 25,000/-  : NIL
  • Loan above Rs. 25,000/- : Minimum 15%
Interest Rate  As per Bank's guidelines  
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