Before settling a loan, it is worth checking whether a government scheme or relief measure can reduce your burden. This guide gives an overview of what to look for.
Types of support to look for
Interest subvention lowers the effective interest on eligible crop loans when repaid on time. Relief measures may be announced after calamities or for specific categories of farmers.
Schemes change over time and eligibility varies, so verify current details with official sources before relying on any scheme.
Checking before you settle
A relief measure or subvention can change the maths of your situation. Always check what applies to you before agreeing to a settlement figure.
Frequently asked questions
Do government schemes waive my entire loan?
Rarely. Most schemes reduce interest or provide targeted relief rather than cancelling the full loan. Always verify current terms officially.
Where can I confirm scheme eligibility?
Through official government and bank channels. Scheme rules change, so rely on current, official information.