Kisan Credit Card
 

Purpose

For meeting the crop production requirement of the farm

Eligibility

All Farmers including tenant farmers, oral lessees

Nature of credit limit

  • Credit extended in the form of a revolving cash credit
  • Provides for any number of drawls and remittances within the limit
  • Eligible Limit: Scale of Finance for each crop in the proposed cropping pattern followed by the farmer for the current year and subsequent two years
  • Consumption requirement of the farmer may also be considered

Validity Period

Three years. However, the account to be reviewed on annual basis by remitting a minimum of the limit availed + interest and other charges debited

Operation of the account

Any number of drawls and remittances within the limit. Drawls by means of withdrawls. Cheque book facility may also be extended in eligible cases.

Issuance of Card cum Pass book

The farmers under  the scheme will be issued with a credit card cum passbook

Rate of Interest

  • Upto Rs 3 lakhs 7.00% per annum provided the account is regular.
  • Interest rate in all other cases as applicable to Priority Sector advances
 
 
 
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