The Union Agricuture Services Loan is a specialized loan product offered by Union Bank of India to support farmer’s especially small and marginal farmers to ensure timeliness of farm operations thus ultimately leading to increase in agricultural production and productivity.

Loans to Custom Service Units managed by individuals, institutions or organizations who maintain a fleet of tractors, bulldozers, well-boring equipment, threshers, combines, etc., and the ones who undertake farm work for farmers on contract basis will be a part of “Agriculture Advances” under ancillary activities.

You can visit any Union Bank of India branch or connect with our dedicated team of agricultural experts to apply for a Union Agricuture Services Loan.

The interest rate on Union Agriculture Services Loans vary, based on factors such as loan type, loan amount, and borrower's creditworthiness.

Yes, you can prepay your loan at any time without any prepayment charges. However, we recommend that you check your loan agreement for any specific terms and conditions related to prepayment.

The repayment terms for Union Agriculture Services Loans vary based on the loan type and borrower's requirements. Typically, the repayment period ranges from 6 months to 15 years, depending on the loan amount and the purpose.

The collateral requirements for Union Agriculture Services Loans vary based on the loan type and borrower's requirements. Typically:-

• Mortgage of immovable property and Hypothecation of non-encumbered existing fleet, not older than 2 years &/or pledged specified financial assets (FOR, NSC etc.) Value of the collateral will not be less than 50% of the loan amount.
• Stipulation for collateral security may be relaxed in deserving cases by the Sanctioning Authority in lieu of third party guarantee of acceptable means.
• Collateral security/third party Guarantee is not applicable for Agricultural Clinics/Agribusiness Centres, eligible under CGTMSE scheme. However, relevant guidelines of CGTMSE scheme shall be applicable in such cases.

The approval process for Union Agriculture. Service Loans can take anywhere from a few days to a few weeks, depending on the loan type and borrower's requirements.

You can get in touch with us through our website, by visiting any Union Bank of India branch, or by contacting our dedicated customer care team.