Purpose:
- 1. KCCOD (KISAN CREDIT CARD OVER DRAFT)
To meet the short term credit requirements for- a. cultivation of crops.
- b. Post-harvest expenses.
- c. Produce marketing loan.
- d. Consumption requirements of farmer household.
- e. Working capital for maintenance of farm assets and activities allied to agriculture.
- 2. KCCTL (KISAN CREDIT CARD TERM LOAN)
To meet Investment credit requirement for agriculture and allied activities.
Eligibility:
- i. Farmers - individual/joint borrowers who are owner cultivators.
- ii. Tenant farmers, oral lessees & share croppers.
- iii. Self Help Groups (SHGs) or Joint Liability Groups (JLGs) of farmers including tenant farmers, share croppers etc.
Limit:
- The limit will be assessed based on scale of finance, anticipated average farm income, repaying capacity.
Nature of facility:
- KCCOD – Overdraft.
- KCCTL - Term loan.
Margin :
- 1) For KCCOD – NIL.
- 2) For investment credit – 10 % to 25% depending upon the investment.
Maximum Repayment period:
- KCCOD / KCCTL – Five years.
REPAYMENT SCHEDULE:
- 1) KCCOD – On demand (within the repayment period with annual review).
- 2) KCCTL - In Monthly / quarterly / half yearly / yearly instalments depending upon the activity undertaken / depending upon the anticipated harvesting and marketing period for the crops which loan is granted.
Security:
- Upto ₹ 1.60 lakh – Hypothecation of crops.
- Above ₹ 1.60 lakh –
- 1) Hypothecation of crops &
- 2) Collateral of agricultural lands and / or liquid securities / other securities acceptable to the Bank.
Rate of interest:
As per EBLR Guidelines.
