India’s second biggest public sector bank, Punjab National Bank (PNB) provides several short-term loan options under its Agriculture Credit schemes.
The bank offers instant loans under various plans where loans are being offered without any security or collateral.
One such scheme is PNB KISAN TATKAL RIN YOJANA, this is instant credit for the farming community (existing borrowers) to meet all emergency requirements related to agriculture and allied activities and household needs. This plan has no margin, service charges, and collateral security needed for the loan. PNB has kept the loan limit up to Rs. 50000 and the farmer can repay the amount in 3 years.
Another scheme from PNB is SHG COVID TATKAL SAHAYATA RIN. This scheme provides financial assistance to individual Self-Help-Group members to meet their immediate requirements. The plan has been intended in the wake of Covid-19 outbreak that has swamped the country. This scheme can be another lending hand for members to sustain themselves when the economic activity has come to a pause. The bank assists individual SHG members with loan amounts ranging between Rs 5000 and Rs 1 lakh without any margin/service charges or collateral security. The bank gives a repayment period of three years for this loan.
