Central Kisan Credit Card ( CKCC)

Purpose

*To meet short term credit requirements for cultivation of crops.
*To provide Post-harvest expenses & Produce Marketing loans.
* To meet consumption requirement of farmers
* To meet working capital requirement for maintenance of farm equipments and other assets and activities allied to agriculture like dairy, fisheries etc.

Eligibility

*All Farmers - Individuals / Joint borrowers who are owner cultivators, tenant farmers, oral lessees, share croppers and Self Help Groups or Joint Liability Groups of Farmers

Nature of facility

*Short-term revolving credit

Limit

*For the first year,
limit will be fixed on the basis of
- Scale of finance for the crop, plus
- 10% of limit towards post harvest/household/consumption expenses plus

- 20% of limit towards repairs & maintenance, crop insurance, Personal Accident Insurance & asset insurance.
- For second and subsequent years the limit will be arrived at by adding 10% towards cost escalation over limit of the preceding year.

Margin

*Nil as it is inbuilt in the scale of finance.

Security

*Primary -
- Hypothecation of crops and assets created out of bank's finance.
* Collateral -
- No collateral for limit uptoRs1.60 Lakh.(In tie ups-up to Rs.3.00 Lakh- No security required)
- For limits above Rs1.60 Lakh, collateral security is required.

Rate of Interest

Limit UptoRs3,00,000/- (Interest Subvention)
Above Rs3.00 Lakh up to Rs10.00 lacs
Above Rs10.00 lakhuptoRs100.0 lakh

 

7%

 

*MCLR + 2.50%
*MCLR + 3.00%

 

Processing Charges

*Nil

Documentation Charges

*NIL

Repayment

*As per the anticipated harvesting and marketing of the crop.
*Limit will be valid for 5 years, subject to annual review.