KCC FOR PM KISAN BENEFICIARIES UNDER KCC SATURATION​

KCC FOR PM KISAN BENEFICIARIES UNDER KCC SATURATION:

the kisan credit card scheme aims at providing adequate and timely credit support from the banking system under a single window with flexible and simplified procedure to the farmers for their cultivation and other needs

eligibility:

  • Farmers – individual/joint borrowers who are owner cultivators;
  • Tenant farmers, oral lessees & share croppers;
  • Self Help Groups (SHGs) or Joint Liability Groups (JLGs) of farmers including tenant farmers, share croppers etc.
  • Two separate cards may be issued for CC limit and term loan transactions with two separate accounts.

repayment:

  • Card should be normally validfor 5 years subject to annual review. The repayment period may befixed as per anticipated harvesting and marketing period for the crops for which loan is granted.

Margin:

For crop loans, no separate margin.

for term loan component, margin will be:

  • Up to Rs 1.60 lac – NIL
  • Above Rs 1.60 lac – 10-15%

Security:

  • For Non Tie Up KCC/UGC: Up to Rs.1.60 lac Hypothecation of crops. Above Rs 1.60 lac Mortgage of land and/or third party guarantee in addition to hypothecated crops/assets.
  • For Tie Up KCC/UGC: Up to Rs.3.00 lac Hypothecation of crop:;. Above Rs 3.00 lac Mortgage of land and/or third party guaran in addition to hypothecated crops/assets.
  • In states where banks have the facility of online creation of charge on the land records, the same shall be ensured.
  • Benefit  of  2%  interest  subvention  &  3%  prompt  repayme incentive will be allowed up to the overall credit limit of rs.3 lakh per annum to the farmers.