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Rural

Purpose

An instant credit for farming community to meet the emergency requirements for Agriculture and Domestic purposes for tiding over temporary difficulties i.e.

  • Repair of farm equipment (tractor, pump set, trolley etc assets free of any charge)
  • Repair/ construction of cattle shed, farm produce storage unit

Eligibility

Existing KCC individual borrowers/ joint borrowers (not exceeding 4 farmers)

Quantum of finance

  • Minimum : Rs.1000/-
  • Maximum; Rs.50000/-
    (Subject to ceiling at 50% of KCC limit/ 25% of annual income)

Security

  • Existing security/ies obtained for KCC to be continued
 

No additional securities to be obtained even if the combined exposure (KCC + Proposed loan) exceeds the present cut-off ceiling of Rs.1 lakh

Margin

NIL

Rate of interest

  • Linked to Base rate as decided by bank as applicable to card rate for KCC ( without interest subvention) ( to arrive at ROI, all limits/ credit facilities may be clubbed for the farmer borrower).

Service Charges

NIL

Repayment

3 to 5 years in half yearly/ annual instalments

Disbursement

After the harvest period of the crops, the farmer/s shall be eligible for the loan