Agriculture being the back bone of the Indian Economy, Bank of Baroda has contributed significantly in accelerating the pace of rural development by providing finance to farmer.
The mode of finance covers activities for:
Progressive, literate and illiterate farmers engaged in cultivation of crops as owner of land, permanent tenants or leaseholders (for reasonably long period) and who utilize the tractor/ machinery economically to the minimum extent of 50% on their own land holding.
Nature Of Facility: Term loan
Repayment period is fixed on quarterly/ half yearly or annual basis, based on income generation from crops taken and off farm activities of the farmer. The maximum repayment period is 9 years for tractors and 7 year for power-tiller.