The farmer, Malathesha, had taken a loan of Rs one lakh from a private bank in Theerthahalli to develop his areca nut farm, police said.
Malathesha had incurred a heavy crop loss after the areca nut plants were infested by pests.
When the bank pressured him to repay the loan, he took his life last night, sources said.
Meanwhile, the District Farmers' Association has demanded that government waive loans taken by farmers in the last one year.
