VIJAYAWADA: Andhra Bank authorities informed their borrowers to repay loans and avail Central government’s Pradhan Mantri Fasal Bima Yojana Scheme. As part of the scheme, the borrowers can benefit from low premium rates and high coverage value. “For instance, paddy loans would have 2 percent premium and Rs 70,000 coverage,” said bank authorities in a release.
The bank officials said that only farmers who paid their loans in time are eligible to apply for no-interest and interest subsidy loans, if the due date passes, borrowers will be levied fines. P Bhaskar Rao, Zonal Manager, Andhra Bank, said: “The consumers should pay their loans on or before July 21 to avail other benefits such as ‘scale of finance’ and insurance to their products.” He appealed to all the consumers to link their Aadhaar card details with the bank.