KISAN CREDIT CARD

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KISAN CREDIT CARD
Application Form

Objectives:  

To provide timely and adequate credit to farmers to meet their production credit needs (Cultivation expenses) besides meeting contingency expenses and expenses related to ancillary activities through simplified procedure facilitating the borrowers for availing loans as and when they need.

Features:

  • Type of Facility: RRevolving cash credit account. Credit balance in the account, if any, will fetch interest at Savings bank rate.
  • Quantum of Loan: Need Based finance considering cropping pattern, acreage and Scale of Finance (SOF) determined by DLTC (District Level Technical Committee).
  • Margin: Nil
  • Moratorium: NA
  • Repayment: The repayment period as per the crop period (Short/ Long) and marketing period for the crop.
  • Security:
    • Primary: Hypothecation of Crops grown / assets to be created out of Bank finance.
    • Collateral: Equitable mortgage / registered mortgage of land / immovable property as applicable of the value of 100 % loan. However, collateral is waived for KCC limit up to Rs. 1.60 lakh and up to Rs.3.00 lakhs, in case of tie up arrangement.
  • Interest Subvention: 3% p.a. interest subvention as Prompt Repayment Incentive (PRI) up to Rs. 3.00 lakhs.
  • Other:
    • Tenure: 5 years, with 10% annual increase of limit every year, subject to annual review.
    • Rupay debit cards for all eligible KCC borrowers.
    • Insurance:
      • a. Eligible crops may be covered under PRADHAN MANTRI FASAL BIMA YOJNA (PMFBY) on premium payment.
      • b.Borrower should also opt for Personal Accident Insurance, Health Insurance (wherever applicable).

Eligibility:

  • All farmers-individuals/Joint borrowers who are owner cultivators.
  • Tenant farmers, Oral lessees and Share croppers, etc,.
  • SHGs or Joint Liability Groups of farmers including tenant farmers, share croppers, etc,.

 Documents Required:

  • Application Form.
  • Two Passport Size Photographs.
  • ID proof such as Driving License / Aadhar Card / Voter Identity Card / Passport, etc,. Any one document needs to be submitted.
  • Address Proof such as Driving License, Aadhar Card, etc,.
  • Proof of landholding duly certified by the revenue authorities.
  • Cropping pattern (Crops grown) with acreage.
  • Security documents for loan limit above Rs.1.60 lakhs / Rs.3.00 lakhs, as applicable.
  • Any other document as per sanction.

Interest Rate:

  • Up to Rs. 3.00 lakhs- 7% p.a. subject to GoI providing interest subvention. For interest subvention, submission of Aadhar details to Bank is mandatory (wherever applicable).
  • Above Rs.3.00 lakhs- as applicable from time to time

Processing fee:

  • KCC Limits up to Rs.3.00 lakhs: NIL
  • Limits more than Rs.3.00 lakhs: 0.35% of loan limit + GS

It is subject to change from time to time.


YONO Review:

Hassle free KCC review on through YONO App or at YONO Branch portal. The salient features of process are:

  • Contact less & paperless journey for application through YONO App.
  • E2E process on YONO Branch portal.
  • Standardization of KCC Review process.
  • Minimum data entry by farmer and branch

1. What are the credit components covered under KCC? 

  • To meet short term requirements for cultivation of crops
  • Post-harvest expenses
  • Consumption requirement of farmer household
  • Investment credit requirement for Agri and allied activities like farm machinery, etc. which is repayable within one year.

2. What is the minimum and maximum loan under KCC?

  • Minimum loan: No ceiling Maximum loan: No ceiling
  • It is need based considering cropping pattern, acreage and Scale of Finance (SOF)

For detailed and updated information, please contact our nearest Branch.


Application Form

Last Updated On : Saturday, 06-05-2023

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

*T&C Apply.

 

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