Modified Interest Subvention Scheme (Crop Loans)
Ministry of Agriculture & Farmers Welfare
Why it matters
Take a short-term crop loan up to Rs 3 lakh at an effective 4% interest if you repay on time — the government subvents the rest.
Launched
1 Apr 2006
Valid until
Ongoing
Benefit type
Loan / Credit
Created by
Government of India
What you get
Short-term crop loans up to Rs 3 lakh at 7% interest, reduced to an effective 4% on prompt repayment via a 3% prompt-repayment incentive (extra benefit for KCC-linked AH and fisheries).
Eligibility criteria
- Farmers availing short-term crop loans / KCC
- Loan up to Rs 3 lakh for the subvented rate
- Prompt repayment required for the 3% incentive
How to apply
- 1
Avail a crop loan / KCC from your bank
- 2
Repay within the due date
- 3
Interest subvention and prompt-repayment incentive are applied automatically
Documents required
- KCC / loan account
- Aadhaar
- Bank account details
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