The Srilanka Government started the Govi Navoda Loan Scheme in the year 2011 with an objective to support farmers to purchase machine used for cultivation activities by providing them loan on low interest rates. Read the complete article to get full details.
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Govi Navoda Loan Scheme Highlights
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| Scheme Name | Govi Navoda Loan Scheme. |
| Date of Launch | 05-08-2011. |
| Benefits Provided | Loan to Purchase Agricultural Machinery. |
| Eligible Beneficiaries |
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| How to Apply | Through Application Form of Lado LakhmiScheme. |
Get to Know: An Introduction
- Govi Navoda Loan Scheme is the welfare scheme of Srilankan Government for farmers.
- It was started on 5th of August 2011.
- The main objective behind starting this scheme to support farmers to purchase machines for farming activities.
- Loans on very low interest rate will be provided to farmers under Govi Navoda Loan Scheme to purchase mechanization for cultivating activities.
- Farmers can purchase Tractors, Plough, Power Trillers, and Rotovators from the loan amount distributed to them.
- Small Scale Farmers and Farmer Organizations are eligible to apply loans under Govi Navoda Loan Scheme.
- Applicant Farmers can apply for a maximum amount of Rs. 5,00,000/- as a loan to purchase farming machines under Govi Navoda Loan Scheme.
- The repayment period in which farmer has to repay the loan amount is 5 years.
- The interest rate applicable on loan taken under Govi Navoda Loan Scheme is 3.38%.
- Government of Srilanka will also provided Interest Subsidy of 75%.
- Beneficiaries Farmers can apply for loan under Govi Navoda Loan Scheme by visitng their nearest bank.
- Regional Banks will distribute the loan amount to farmers under Govi Navoda Loan Scheme.
Discover the Benefits: What You Gain
- Benefits that are provided to applicants under Govi Navoda Loan Scheme of Srilankan Government are as follows :-
- Loan will be provided to purchase Tractor, Power Triller, Plough etc.
- Maximum Amount of Loan Provided will be Rs. 5,00,000/-.
- Repayment Period of Loan is 5 Years.
- Interest Rate on Loan is 3.38%.
- Interest Subsidy of 75% will be Provided on Loan.
Who Can Apply: Eligibility Insights
- Loan under Govi Navoda Loan Scheme will be provided to only those applicants who fulfill the following eligibility conditions of scheme :-
- Applicant should be a Citizen of Srilanka.
- The Age of Applicant should be below 65 Years.
- Small Scale Farmers and Farmers Organization are Eligible to Apply.
- Applicant should not be a Wilful Defaulter.
- Applicant should have ability to contribute 20% of Project Cost.
Documents Checklists: What to Prepare
- Documents that are required to be attached with application form at the time of applying for loan under Govi Navoda Loan Scheme are mentioned below :-
- Identity Proof.
- Bank Account Details.
- Mobile Number.
- Details of Machine to be Purchased.
How to Apply: Your Step by Step Guide
- Beneficiary Applicant can apply for loan under Govi Navoda Loan Scheme through Application Form.
- Application Form of Govi Navoda Loan Scheme is available free of cost at any bank branch.
- Applicant has to visit the bank and collect the Application Form.
- Fill the Govi Navoda Scheme Application Form correctly.
- Attach all the required documents with the Application Form.
- Now submit the Application Form along with all the documents in the same bank from where the Applciation Form was collected.
- Bank Official will verify the recieved application form and documents.
- List of Selected Applicant will be made after scrutinization.
- Selected Applicant of Govi Navoda Loan Scheme will get loan amount to purchase machine for cultivating activity.
- Application Status of Govi Navoda Loan Scheme will be checked by visiting the bank.
- Applicant can also call on 011-2035454 for more information about Govi Navoda Loan Scheme.