KISAN CREDIT CARD TO INDIVIDUAL Kisan Credit Card to individual aims at providing adequate and timely credit support from the banking system under a single window to the farmers.
KISAN CREDIT CARD TO INDIVIDUAL EMI Calculator Loan Amount 1L 5Cr Tenure (months) 12 360 Interest Rate 6% 18% Equated Monthly Installment (EMI) will be 8606
HPSCB Loan : Objective/Purpose 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 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 pumpsets, sprayers, dairy animals etc.
HPSCB Loan : Eligibility All Farmers – Individuals/Joint borrowers who are owner cultivators. Tenant Farmers, Oral Lessees & Share Croppers. SHGs or Joint Liability Groups of Farmers including tenant farmers, share croppers, etc.
HPSCB Loan : Fixation of credit limit/Loan amount The credit limit under the Kisan Credit Card may be fixed as under:- The short term limit to be arrived for first year- Scale of finance for crop × Extent of area cultivated + 10% of limit towards cost escalation/increase in scale of finance for every successive year (2nd, 3rd, 4th and 5th year) and estimated term loan component for tenure of KCC i.e. 5 years. Limit of second and subsequent year- First year limit for crop cultivation arrived at as above + 10% of limit towards cost escalation/increase in scale of finance for every successive year (2nd, 3rd, 4th and 5th year) and estimated term loan component for tenure of KCC i.e. 5 years. Term loan for investment- Made towards land development, minor irrigation, purchase of farm equipment and allied agricultural activities. All allied agriculture activities are included in investment credit requirements. Loan amount to be fixed based on unit cost of asset/s proposed to be acquired by the farmer, the allied activities already being undertaken on the farm.
HPSCB Loan : Margin For Crop loans – No separate margin shall be required as the margin is in-built while fixing the Scale of Finance. For Term loan – 10% of the project cost.
HPSCB Loan : Security Advances up-to Rs. 1.60 lakh – Hypothecation of crops/assets created out of bank loan. Advances above Rs. 1.60 lakh- Creation of charge on land for which advance has been taken. Hypothecation of standing crops.
HPSCB Loan : Repayment The term loan component will be normally repayable within a period of 5 years depending on the type of activity/investment as per the existing guidelines applicable for investment credit. For proposed investment credit term loan- fixed on crop basis i.e. on yearly crops, repayment schedule will be on yearly basis and half yearly crops.
HPSCB Loan : Insurance Crop Insurance. The assets purchased out of investment credit term loan is required to be insured by borrower or bank (on the expense of borrower). Personal Accident Insurance Scheme- The policy will cover the kCC holders upto the age of 70 years.
HPSCB Loan : Validity/Renewal The KCC shall be valid of 5 years subject to periodic review which shall be on annual basis.
HPSCB Loan : Disbursement The short term component of KCC limit is in the nature of revolving cash credit facility. No restrictions in the number of debits and credits. The drawing limit for the current season/ year could be allowed by using any of the following delivery channels- Operations through branch Operations using Cheque facility Withdrawal through ATM/ Debit Cards Operations through Business Correspondents and banking outlets/ part time banking outlets Operation through PoS Operations through PoS available with input dealers Mobile based transfer transactions at agricultural input dealers and mandis.
HPSCB Loan : Documentation Application form KYC of the borrower and guarantor Khasra Gardouri Assessment of the requirement/ eligibility Term loan agreement Hypothecation of standing crops Creation of charge Insurance of crop Personal Accident Insurance
