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%
- The card is valid for three years and is renewable thereafter depending upon the satisfactory conduct of the account.
- 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.
- 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.
- The loan amount released for one season should be adjusted within 2 months from the date of harvest of the crop.
- Renewal will be permitted only for satisfactorily operated accounts both in terms of drawal and adherence to seasonal.
- Chitta, adangal and other farm documents will be obtained once in 3 years.
- All eligible IBKC farmers are will be covered under PAIS(Personal Accident Insurance Scheme).
- Insurance coverage will be made for notified crops in notified areas under National Agri. Insurance scheme as per guidelines.
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