6. Kisan Credit Card (KCC) Scheme

Loan Amount : The crops, including fodder crops cultivated as per proposed cropping pattern & scale of finance provided by the State Level Banker Committee of concerned State. For every successive years (2nd, 3rd, 4th, and 5th year), the limit will be stepped up @10%  and the limit so worked out at the end of 5th year will be the Maximum Permissible Limit (MPL) and sanctioned as the Kisan Credit Card Limit.

Loan Term : KCC will be in the nature of revolving account, there is no need to bring the debit balance in the account to zero/ credit at any point of time

Interest Type : Floating

a)  For Farmer:
i)   Upto Rs. 3 lacs - 7% p.a. (with Intt. Subvention) and  1.75% +BR i.e. 11.40% p.a. (Otherwise)
ii)   > Rs. 3 lac upto 25 lacs-1.5% above BR i.e. 11.15% p.a
iii)   > Rs. 25 lacs -3%+BR i.e. 12.65% p.a.

b) Other than farmer:
i)   Upto Rs. 3 lacs-1.75% +BR i.e. 11.40% p.a.
ii)   > Rs. 3 lac & below 25 lacs- 2.75% to 3.75% +BR  i.e.  12.40% to 13.40 % p.a.
iii)   Rs. 25 lacs & above -2% to 3.75% above BR i.e. 11.65 % to 13.40% p.a.

Fee Payable during the term of the loan

Processing Charges:
i) upto Rs 3 lacs- Nil
ii) > Rs. 3 lacs-0.30% of loan amount with Maxi. Rs. 30 lacs

Inspection Charges:
i)   Upto Rs.25000/-  Nil
ii)  > Rs. 25,000/- & upto Rs. 2 lacs: Rs.500/- p.a
iii)  > Rs. 2 lacs  -Rs. 500/- per lac p.a. 

Penalty for delayed payments: @ 2% on the entire outstanding for the period of default.

EMI payable : It's a revolving cash credit limit.

Details of Security/ Collateral Obtained

Primary: Hypothecation of Crops raised

Collateral :
i) Upto Rs 100000/-  Nil
ii) Above Rs 100000/- 125% of the Loan amount.
iii) For good track record borrowers of 3 years, no collateral security is required for limit upto Rs. 2.00 lac.