Table of contents
- 1. PM Matsya Sampada Yojana (PMMSY)
- 2. NABARD Fish Farming Loan
- 3. Kisan Credit Card (KCC) for Fish Farmers
- 4. State Fisheries Department Loans
- 5. Mudra Loan Scheme for Fish Farming
- 6. Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
- 7. SBI Fisheries Loan
- 8. Canara Bank Fishery Loan Scheme
- 9. Bank of Baroda Fish Farming Loan
- 10. Private NBFC and Microfinance Loans
- How to Apply for a Fish Farming Loan
- Documents Required for a Fish Farming Loan
- Types of Fish Farming Loan Schemes in India
- Tips to Get Fish Farming Loan Approved Quickly
- Conclusion
- Frequently Asked Questions (FAQs)
Fish farming is becoming one of the most profitable agricultural businesses in India. With rising demand for seafood and government support, many farmers are turning to aquaculture. But to start or expand a fish farm, you need funds. That’s where a fish farming loan helps! This article will guide you through the top 10 fish farming loan schemes available in India, how to apply, eligibility, and tips to grow your business successfully.
1. PM Matsya Sampada Yojana (PMMSY)
Launched By: Ministry of Fisheries, Government of India
Objective: Boost fish production and infrastructure
Key Features:
- Financial support for pond construction, hatchery setup, and feed plants.
- Subsidy up to 60% for SC/ST/women and 40% for others.
- Covers inland, brackish water, and marine aquaculture.
Eligibility:
- Individual farmers, SHGs, FPOs, and entrepreneurs involved in aquaculture.
How to Apply:
- Visit: nfdb.gov.in
2. NABARD Fish Farming Loan
Launched By: National Bank for Agriculture and Rural Development
Purpose: Long-term development in the fisheries sector
Loan Details:
- Loan amount is based on the project report.
- Interest subsidy is available through central schemes.
Benefits:
- Assistance in fish pond construction, input cost, and equipment purchase.
- Special refinance facility to co-operative and rural banks.
Apply Via:
- Local rural bank or cooperative bank under the NABARD scheme.
3. Kisan Credit Card (KCC) for Fish Farmers
Extended By: Government of India under KCC framework
Features:
- Up to ₹3 lakh credit limit
- Interest subsidy of 2% and a timely repayment incentive of 3%
- Flexible repayment schedule
Eligibility:
- Fish farmers registered with fisheries department.
Apply Through:
- Any commercial or cooperative bank.
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4. State Fisheries Department Loans
State-Specific Schemes:
- Tamil Nadu: Tamil Nadu Fisheries Loan Scheme
- Maharashtra: Subsidy for coastal aquaculture
- Andhra Pradesh: Fish tank development grants
Benefits:
- Subsidy between 20–60% based on caste, gender & state policy.
Where to Apply:
- State fisheries department office or official website.
5. Mudra Loan Scheme for Fish Farming
Offered Under: Pradhan Mantri MUDRA Yojana (PMMY)
Loan Categories:
- Shishu: up to ₹50,000
- Kishor: ₹50,000 to ₹5 lakh
- Tarun: ₹5 lakh to ₹10 lakh
Benefits:
- No collateral required
- Flexible EMI options
Apply Via:
- Public & private banks, NBFCs
6. Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
Launched By: Government of India
Purpose:
- Boost infrastructure like fishing harbours, cold chains,and processing units
Benefits:
- Interest subvention of 3%
- Loan through NABARD/NCDC/NABSanrakshan
Apply Through:
- State fisheries department or nodal agencies
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7. SBI Fisheries Loan
Bank: State Bank of India
Features:
- For fish pond setup, feed units, boat purchase
- Competitive interest rates
- Collateral as per RBI norms
Apply Via:
8. Canara Bank Fishery Loan Scheme
Features:
- Covers both inland and marine fishing activities
- Loan up to ₹10 lakh
Eligibility:
- Individuals, JLGs, SHGs involved in fisheries
Apply Via:
- Canara Bank branch or canarabank.com
9. Bank of Baroda Fish Farming Loan
Loan Purposes:
- Construction of ponds, purchase of inputs and nets
- Cold storage support
Key Points:
- Quick processing
- Repayment period: 5–7 years
Apply Via:
- Bank of Baroda branches or bankofbaroda.in
10. Private NBFC and Microfinance Loans
Institutions:
- Bajaj Finserv, L&T Finance, Mahindra Finance
Benefits:
- Minimal paperwork
- Fast disbursement
- Higher interest rates than banks
Caution: Always compare rates before applying.
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How to Apply for a Fish Farming Loan
| Step | Details |
|---|---|
| Step 1 | Prepare a detailed fish farming project report |
| Step 2 | Check eligibility for schemes or subsidies |
| Step 3 | Visit the bank/fisheries department |
| Step 4 | Submit documents (ID, project report, land papers) |
| Step 5 | Await approval and disbursement |
Documents Required for a Fish Farming Loan
To make the process easy and smooth, prepare the following documents:
- Aadhaar Card
- PAN Card
- Land Ownership or Lease Agreement
- Fishery Registration Certificate (if available)
- Passport-sized Photos
- Bank Passbook / Account Statement
- Detailed Project Report (DPR)
📎 Note: Some schemes also need caste or income certificates to avail of subsidy benefits.
Types of Fish Farming Loan Schemes in India
| Loan Type | Provider | Purpose |
|---|---|---|
| Subsidy-Based Loans | Government (PMMSY, State Depts.) | Capital cost reduction via subsidy |
| Refinance Loans | NABARD | Long-term loans through rural banks |
| Credit Card Loans | Kisan Credit Card (KCC) | Short-term working capital |
| Infrastructure Development Loans | FIDF | Big projects like cold storage & harbors |
| Unsecured Micro Loans | MUDRA / NBFCs | For beginners and small-scale fish farmers |
Tips to Get Fish Farming Loan Approved Quickly
💡 Follow these expert tips:
- Build a strong project report – Include costs, expected income, and break-even time.
- Maintain a clean credit history – No loan defaults or missed EMIs.
- Add a co-applicant – Preferably someone with an income or farming background.
- Apply during government schemes launch – Easier to get approval and subsidy.
- Keep documents ready – Reduces delay in processing.
- Talk to a local fisheries officer – They guide you on state-specific subsidies.
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Conclusion
Fish farming can change the lives of rural and semi-urban entrepreneurs. Government and private loan schemes now make it easier to enter this high-profit sector. Use the right fish farming loan plan, submit a clear proposal, and grow your business confidently in 2025.
Frequently Asked Questions (FAQs)
1. Which loan is best for fish farming in India?
→ PMMSY and NABARD are highly recommended.
2. Can I get a loan without land ownership?
→ Yes, you can use leased land with proper documents.
3. How much subsidy do I get under PMMSY?
→ Up to 60% for SC/ST/Women; 40% for general.
4. What is the interest rate on fish farming loans?
→ Ranges from 4% to 10% depending on the scheme and bank.
5. Do banks ask for collateral?
→ MUDRA loans don’t; others may require it for amounts over ₹1 lakh.
6. Can I apply for multiple schemes?
→ No, most schemes restrict double benefits for the same project.
7. How long does it take for loan approval?
→ 7 to 30 days typically, depending on the bank and documentation.
8. Is training required for loan approval?
→ Not always, but it helps. Some states provide fish farming training.
9. Are women farmers eligible?
→ Yes, and they often get higher subsidy rates.
10. What is the repayment time for a fish farm loan?
→ Usually 3–7 years with a grace period of 6–12 months.
