Cent Agri Gold Loan Scheme: Overview, Eligibility and Application Details for Farmers

Central Bank of India offers the Cent Agri Gold Loan Scheme to assist farmers with immediate credit needs for agricultural and allied activities. According to published reports, the scheme provides loans up to a maximum of Rs. 20 lakh against the pledge of gold ornaments or jewelry.

Published details outline specific parameters regarding loan limits, interest rates, and repayment terms. Verification of official terms, current Marginal Cost of Funds Based Lending Rate (MCLR), and eligibility criteria should be conducted directly through the official bank website or a local branch before applying.

Scheme Overview and Highlights

• Maximum Loan Amount: Up to Rs. 20 lakh, subject to gold valuation and purity.
• Pledge Requirement: Gold or gold ornaments secured with the bank.
• General Eligibility: Applicants must be Indian citizens, aged 18 years or older, and actively engaged in farming or agricultural activities.

Interest Rates and Charges

• Interest Rate: Reported at 7% for loans up to Rs. 3 lakh (with applicable interest subvention), and MCLR + 0.25% beyond interest subvention terms.
• Processing Fees and Charges: Vary based on the loan type and amount, with initial charges noted as zero up to Rs. 5 lakh and Rs. 5,000 plus GST for amounts exceeding Rs. 5 lakh in certain categories.

Repayment Terms

• Term Loans: Repayment period extending up to a maximum of 5 years.
• Demand Loans: Repayment based on income generation within a maximum of 18 months.
• Cash Credit / Overdraft: Limits subject to annual review valid for 5 years.

How to Apply and Verify

Interested individuals can visit their nearest Central Bank of India branch to consult with a loan officer. Applicants are advised to carry valid identity proof, address proof, KYC documents, agricultural records, passport-size photographs, and the gold securely. Always confirm active interest rates, processing fees, and exact documentation requirements directly with the bank prior to submission.