The Debt Swap Scheme offered by the Union Bank of India is a scheme aimed at providing relief to farmers who are burdened with high-interest loans from non-institutional lenders. The scheme allows farmers to swap their high-interest loans with low-interest loans from the Union Bank of India.

All farmers who have taken high-interest loans from non-institutional lenders are eligible to apply for the Debt Swap Scheme. The farmer should have a good repayment track record and should be able to provide adequate security for the loan.

The maximum loan amount that can be availed under the Debt Swap Scheme depends on the creditworthiness of the borrower and the value of the collaterals provided.

The repayment period for the Debt Swap Scheme is flexible and can range from a maximum of 5 years, depending on the amount of the loan and the borrower's repayment capacity.

No, the Debt Swap Scheme can only be availed for agricultural purposes.

The applicant can apply for the Debt Swap Scheme either online or offline. For online application, the applicant can visit the Union Bank of India website and follow the instructions provided. For offline application, the applicant can visit the nearest Union Bank of India branch and submit the required documents.

The benefits of the Debt Swap Scheme include lower interest rates, reduced debt burden, improved creditworthiness, and improved cash flow management for farmers.