Gold Loan for Farmers

We all studied from our childhood that farming is the backbone of our nation. But it is also one of the toughest jobs to undertake here due to many problems revolving around it. Funds have always been a problem when it comes to agriculture. Lack of money to buy the basic amenities caused a great deal of trouble for the farmers. The requirements include land, seeds for sowing, cultivating the crop, machinery, labor, post-harvest distribution, pesticides, etc. All this comes with a price. Since most of our farmers come from poor backgrounds, they find it tough to buy all these things. Just having a barren land won’t solve the problem. One needs to have enough money to cover the entire agricultural need.

This is where the Gold Loan comes in handy. You can easily borrow money against your Gold. Thanks to its many advantages, farmers find it extremely useful.

Some features:

• The process is so easy to apply. All you need is to approach the bank and submit the necessary documents. You can even do some processes online. You can go to the bank only for the submission of your jewelry.
  
  
• Gold rate per gram is standardized.
  
  
• Gold loan interest rate is less compared to other loans offered by the bank. Some banks offer even less interest rates when it comes to agriculture gold loans. So farmers can avail the maximum advantage of it.
  
  
• There is no huge paperwork and the documents to be submitted is also very less. With some basic documents like ID proof, Address proof, etc., you can avail of the loan.
  
  
• Since all the jewelry is pooled in the bank, safety automatically becomes the prime necessity. Farmers don’t need to worry about that because banks store in it safe vaults with all the
  precautious steps are taken.
  
  
• Some top banks offer up to 25,000 rupees of the loan amount. Axis Bank gold loan for farmers offers 2 lakh to 25 lakh of loan money with a tenure of 12 months.

All these features are to be noted while availing the loan by a farmer. The right amount at the right time will prove to a life-changer for many small-scale farmers whose life depends on that piece of land.

Must read:- Is taking a Gold Advance safe?