GENERAL KNOWLEDGE

Detailed explanation-1: -Agricultural loans are availed by a farmer to fund seasonal agricultural operations or related activities like animal farming, pisci-culture or purchase of land or agricultural tools.

Detailed explanation-2: -A agricultural land is pledged as a collateral. The borrower should have clear titles to the land to be eligible to apply for a Loan Against Agricultural Land. Usually, lenders prefer borrowers to have residence stability of 2 years. Most banks offer loans based on the size of the land pledged.