Cent Kisan Gold Card

Purpose

* To meet all term credit requirements like Farm Mechanization, Land Development, Minor Irrigation, Water Conservation, Horticulture, Allied Activities and other related activities etc .

Eligibility

* Individuals / Joint / Group of Farmers-owner cultivators and Self Help Groups, Joint Liability Groups etc., engaged in agriculture and related activities .

Nature of facility

* Term Loan repayable within 9 years .

Quantum of Loan

* As per plan for investments to be undertaken in the next 2-3 years subject to 5 times of annual income or 50% of value of land to be mortgaged as security with a maximum loan of Rs20 lac.

Margin

*UptoRs1.60 Lakh

For loans above Rs1.60 Lakh-

*Small and Marginal Farmers
* Other Farmers

NIL

5%
15%

Security

* UptoRs1.60 lac*

* Above Rs1.60 lac*
* (total amount of loans availed by the borrower)

- Hypothecation of assets created out of bank's finance.

- Hypothecation of assets created out of bank's finance and creation of Charge / Mortgage on land valued at least 200% of the loan amount.

Insurance

* Assets created out of loan have to be insured for full value.

Interest Rate

UptoRs3,00,000/-
Above Rs3.00 lakh to Rs10.00 lacs
Above Rs10.00 lakhs uptoRs.20 lacs

MCLR + 1.35%
MCLR + 2.50%
MCLR + 3.00%

Processing Charges

* UptoRs25,000/- : Nil .
* Above Rs25,000/-: @ Rs120/- per lac or part thereof

Documentation Charges

UptoRs 3 Lakh- NIL

Above Rs 3 Lakh/- : 50% of 1.25% (i.e. 0.625%)

Repayment

* In suitable installments coinciding with overall income generation.