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KISAN CREDIT CARD -KCC

PURPOSE

  • To meet short term credit requirement for cultivation of crops
  • Post-Harvest expenses
  • Consumption requirement of farmer household
  • Working Capital for maintenance of Farm assets and activities allied to agriculture like dairy, piggery, poultry, fisheries etc.
  • Investment credit requirement for agriculture like farm machinery and allied activities to agriculture like dairy animas etc. and repayable within a period of one year

ELIGIBILITY

  • All Farmers- Individuals/ Joint borrowers who are owner cultivators
  • Tenant farmers, Oral Lessee, Sharecroppers
  • SHGs or Joint Liability Groups of Farmers including tenant farmers, sharecroppers
  • The applicant should be in the age group of 18-70 years for being eligible for PAIS

LOAN AMOUNT

    1. The amount of loan is fixed according to the prescribed Scale of Finance (SOF)
    2. Resolving Cash Credit
  • Scale of finance (for crops to be sown) X size of landholding
  • +10% of the limit for post-harvest /consumption needs

    +20% of the limit for maintenance of farm equipment

    +insurance premium (Crop Insurance/ Insurance of Farm Equipment & PAIS)

  • Limit to be upwardly revised @10% every year
  • Note:Additional 20% over and above the limit fixed by the DLTC for Crop Component, separate accounts will be opened for the production credit ( crop loan) and consumption /maintenance part

    1. TERM LOAN: for land Development / Minor Irrigation/ Farm Equipment/Allied Activities such as Dairy/Poultry/ Fisheries etc
    2. Sanction limit will be arrived at the clubbing Revolving CC limit or the 5th Year + Term Loan Component (- instalments payable)

    3. Flexi KCC: May be sanctioned to Marginal Farmers for ₹ 10,000/- to ₹ 50,000/- based on their requirements

MARGIN

  • Up to ₹ 1,60,000 - NIL
  • Above ₹ 1,60,000 - Minimum 10%
  • Their is no margin for crop loan under KCC as the margin is inbuilt while fixing the Scale of finance

INTEREST RATE

    As prescribed by the Bank. Additional Subvention of 3% p.a for promptly repayment of Farmers as per GOI directive.

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Largest Branch Network in
Mizoram.
Mizoram Rural Bank
Head Office : MINECO,Khatla
Aizawl - 796001
Mizoram
Nodal Officer for Customer Grievance Redressal
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