UBI providing agri loans up to Rs 1.35L per acre

Tirupati: Loans are being sanctioned depending on the variety of crop, informed P D V Sarma, Regional Manager of UBI, Tirupati. Sarma announced that they were extending various types of loans to support the farmers, merchants and other customers, who are facing a tough time due to the Covid-19 pandemic and other crisis.

Speaking in a press meet here on Wednesday, the Regional Manager said the UBI was catering to the needs of people involved in various sectors including agriculture, development of business, revamp of small medium and large scale industries. He announced that the Bank was providing agriculture loans up to Rs 1.35 lakh depending on the variety of the crop, and up to Rs 50,000 under the Kisan Tatkal Loan programme to the eligible farmers without any additional mortgage. He said they would also provide a loan of Rs 27,000 for each cow, Rs.30,000 for each buffalo and Rs40,000 for 20 females plus 1(One) male unit of sheep and goat. He said they were also giving gold loans at the lowest interest and loans to business and SMEs at 6.8 per cent. He said the SHGs from the rural areas could get loans up to Rs 20 lakhs while the SHGs from the Urban area are eligible for loans up to Rs 10 lakhs without any processing charges.

He informed the bank was sanctioning home loans with 6.4 per cent interest and was extending loan by another Rs 15 lakhs to the already existing home loan customers without any additional mortgage. Deputy Regional Manager Y Chandrasekhar Reddy and staff participated in the meeting.