Mahabank Gold Loan Scheme - Agriculture Click here for Digital Gold Loan

Bank of Maharashtra offers the Mahabank Gold Loan Scheme – Agriculture, a tailored financial solution designed to assist farmers in meeting their agricultural and allied financial requirements. This scheme enables farmers to leverage their gold assets to access timely credit for crop production, allied activities, and investment purposes.

Purpose

The primary objective of this scheme is to provide farmers with quick and hassle-free credit by pledging gold ornaments. The funds can be utilized for:​

  • Crop production and related expenses
  • Allied agricultural activities
  • Investment in agricultural infrastructure​

ParticularsDetails
PurposeTo enable farmer to quickly meet their agricultural credit needs i.e both crop production / cash credit for allied agricultural activities & investment credit
Type of Loan
  1. Term loans
EligibilityAny person engaged in agriculture or allied activities. The applicant should satisfy the KYC guidelines
Amount
  1. Agricultural Term Loan- As per actual credit requirement

Quantum decided on following basis:

    Maximum permissible limit under the scheme is Rs.100.00 Lakh* (T&C Applied) per borrower
    MarginMinimum 15 % for Agri. Term Loan against Gold
    Rate of Interest
    • Term Loans: @ 1 Month MCLR + 0.05% = 8.30% +0.05 = 8.35%
    SecurityPledge of Gold jewelry/ ornaments. Bank shall not grant any advance against bullion/ primary gold.
    Processing charges
    • Up to Rs.3.00 lakh - NIL
    • Above Rs.3.00 lakh to Rs. 5.00 lakh - Rs. 500
    • Above Rs. 5.00 Lakh to Rs. 10.00 lakh – Rs.1000
    • Above Rs.10.00 lakh to Rs.20.00 lakh - Rs.1500
    • Above Rs.20.00 lakh- Rs. 2000
    Repayment
    • TL- Within 24 months depending upon the purpose
    Documents & Papers requirement 

          Loan application , KYC Documents, 7/12 Extract

    Application Process

    To apply for the Kisan Gold loan, visit the nearest Bank of Maharashtra branch or apply online through the official website. The bank ensures a streamlined process for farmers to apply for a gold loan on agricultural land with minimal documentation and quick disbursal.​

    The agriculture gold loan scheme by Bank of Maharashtra stands as a reliable financial support system for farmers, offering flexibility, competitive interest rates, and a straightforward application process. By providing loan against agriculture land, the bank empowers farmers to meet their financial needs efficiently.