Kisan Credit Card (KCC)

Eligibility :

All Farmers

Purpose :

To meet the short-term credit requirements for cultivation of seasonal, annual and perennial crops.

Crop Loan :

• Upto 3 lakhs - @ 7 %(Under 2% interest subvention from Govt of India)
• Rs.3.00 to Rs.5.00 lakhs - @ BPLR + 0.50 = 13.00%
• Rs.5.00 lakhs - @ BPLR + 1.00 = 13.50%

Features of the Scheme :

1. The card is valid for three years and is renewable thereafter depending upon the satisfactory conduct of the account.
2. The limit sanctioned will be in the form of revolving credit. Hence, any number of debits / credits will be allowed subject to the seasonal drawing limit.
3. Drawals in the account will be restricted to the seasonal sub-limit fixed for the respective season. Drawals / repayment schedule will be arrived at factoring in the nature of the crop cultivated.
4. The loan amount released for one season should be adjusted within 2 months from the date of harvest of the crop.
5. Renewal will be permitted only for satisfactorily operated accounts both in terms of drawal and adherence to seasonal.
6. Chitta, adangal and other farm documents will be obtained once in 3 years.
7. All eligible IBKC farmers are will be covered under PAIS(Personal Accident Insurance Scheme).
8. Insurance coverage will be made for notified crops in notified areas under National Agri. Insurance scheme as per guidelines.