Kisan Credit Card (KCC)
- Objective and Purpose: Kisan Credit Card (KCC) aims at providing adequate and timely credit support to the farmers for their cultivation and other needs as indicated below-
- To meet the short term credit requirements for cultivation of crops
- Post harvest expenses
- Produce marketing loan
- Consumption requirements of farmer household.
- Working capital for maintenance of farm assets and activities allied to agriculture like dairy animals, inland fishery etc.
- Investment credit requirement for agriculture and allied activities like pump sets, sprayers, dairy animals.
All farmers- Individuals/Joint Borrowers who are owner cultivators.
Tenant farmers, Oral Lessees and Share Croppers.
SHGs or JLGs of farmers including tenant farmers, share croppers.
Rate of Interest: 7% for limits up to Rs 3 Lacs & for greater limits, interest rate will be charged as per Bank’s norms
Quantum of Finance: Based on the proposed investments during the Five-year period and Bank’s norms on the repaying capacity of Farmer.
Other benefits: Incentive for prompt repayment, Crop Insurance, Asset Insurance, Personal Accidental Insurance (necessary premium needs to be paid as per agreed ratio between Bank and Farmer).