Objective

Kisan Credit Card Scheme aims at providing adequate and timely credit support from the banking system under a single window to the farmers for their cultivation & other needs.

Target Group

i. All Farmers - Individuals / Joint borrowers who are owner cultivators

ii. Tenant Farmers, Oral Lessees & Share Croppers

iii. SHGs or Joint Liability Groups of Farmers

iv. including tenant farmers, share croppers etc.

Purpose

a. To meet the short term credit requirements for 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 band activities allied to agriculture like dairy animals, inland fishery etc.

f. Investment credit requirement for agriculture and allied activities like pumpsets, sprayers, dairy animals etc.

Amount

Loan amount / Limit fixed on annual basis depending upon the cropping pattern, Scale of Finance for the crop and the extent of cultivation.

Security

New borrowers:

Upto Rs. 1. 60 Lakh: Hypothecation of crops /assets created out of loan.

Above Rs. 1.60 Lakh - Suitable Collateral or TPG at the discretion of the Bank & Hypothecation of crops / assets created out of loan.

Existing borrowers with satisfactory dealing for two years:

Upto Rs. 3 Lakh: Hypothecation of crops /assets created out of loan.

Above Rs. 3 Lakh: Suitable Collateral or TPG at the discretion of the Bank & Hypothecation of crops / assets created out of loan.

Repayment

Limit is valid for 5 Years subject to renewal on every year.

Rate of Interest

Refer - Interest Rates at a Glance - (Click here)

Remarks

Rupay KCC Card will be issued for all the KCC borrowers.

• For other details, please contact your nearest IOB branch.