The Public sector Indian Bank has given a big gift to the farmers of the country. In fact, a plan was made by Indian Bank to give loans against gold to farmers, in which the interest rate has now been reduced. Now the interest rate of gold loans has been reduced to 7 percent. It is a short-term gold loan. It is called Krishi Jewellery Loan. The interest rate has been reduced on this. Earlier the interest rate was 7.5 percent. According to the bank, this decision has been taken in view of the current situation. With this, loans can be provided to the needy farmers at a low interest rate. According to the bank The 7 percent interest rate for agricultural jewel loans has been implemented from July 22, 2020. This means that now an interest of Rs 583 will be given every month per lakh rupees. It has been implemented under the Bumper Agri Loan Scheme. Loans up to 85 percent of the cost of the jewellery are provided for a period of 6 months. Farmers can give voter ID card, PAN card, passport, Aadhaar card and driving license etc. as ID proof. Similarly, for proof of address, voter ID, passport, Aadhaar card or driving license have to be used. Along with this, proof of being a farmer has to be given. Apart from this, State Bank of India, the largest bank in the country, is also providing various loans to farmers. It also includes Multi Purpose Gold Loan of SBI. Farmers can apply for its loan. The term of this loan has been fixed for about 12 months. Source: Agrostar, 27 july 2020 If you find this information useful, like it and share it with your friends.