Fisheries Loan
A Fisheries Loan provides financial assistance to individuals, cooperatives, and entrepreneurs engaged in fish farming, aquaculture, and allied activities. These loans help in establishing or expanding fish ponds, hatcheries, fish feed units, cold storage, and marketing facilities. Offered by banks, NABARD, and government schemes, fisheries loans promote sustainable fish production and enhance rural livelihoods.
Types Of Fisheries Loan
These loans cater to different needs in fish farming, aquaculture, storage, and marketing, helping individuals and businesses expand their fisheries ventures.
Fish Farming Loan
For setting up or expanding fish ponds, cages, and aquaculture units.
Fish Hatchery Loan
To establish hatcheries for breeding and seed production of fish species.
Fish Feed Unit Loan
Financial aid for setting up fish feed manufacturing or processing units.
Cold Storage & Ice Plant Loan
For building cold chains, ice plants, and storage facilities to preserve fish.
Fishing Boat & Equipment Loan
Assistance for purchasing boats, nets, and modern fishing gear.
Market Infrastructure Loan
For developing fish markets, processing units, and transport logistics.
Why Fisheries Loan Is Important?
Eligibility Criteria
Fish farmers, aquaculture entrepreneurs, cooperatives, and SHGs can apply for fisheries loans.
Loan Coverage
Covers expenses related to pond construction, feed, machinery, boats, cold storage, and working capital.
Interest Rate & Subsidy
Interest rates usually range between 7–10%, with subsidy support under government schemes like PM Matsya Sampada Yojana.
Documents Required
ID proof, project report, land ownership/lease papers, bank statements, and quotations for equipment.
FAQs
What is a Fisheries Loan?
A Fisheries Loan is financial assistance provided to individuals or groups involved in fish farming, aquaculture, or fishing-related activities.
Who is eligible for a Fisheries Loan?
Fish farmers, entrepreneurs, cooperatives, self-help groups (SHGs), and aquaculture businesses are eligible to apply.
Which banks provide Fisheries Loans?
All major public and private sector banks, along with NABARD and cooperative banks, offer fisheries loans under government-supported schemes.
Is there any subsidy available on Fisheries Loans?
Yes, government schemes like the PM Matsya Sampada Yojana provide subsidies of up to 40–60% depending on category and project type.
What documents are needed for applying?
Identity proof, project report, land papers, bank statements, and quotations for infrastructure or equipment.
How long does it take to get loan approval?
Typically, loan processing takes 15–30 days depending on document verification and project evaluation.