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KISHAN CREDIT CARD SCHEME
1. OBJECTIVE:
Kisan Credit Card Scheme aims at providing adequate and timely credit to farmers in a comprehensive manner through a single credit limit. It will provide a simple procedure and eliminate repeated documentation and helps the farmer to get the credit at least inconvenience. It will provide the farmer the much needed flexibility in drawing money at the time of need. It takes care of both crop loan and investment credit requirement of the farmer.
2. ADVANTAGE OF KCC SCHEME :
  • Credit facility for 5 years – no need for seasonal appraisal. The borrower need not submit all papers and execute documents every year during the currency of KCC.
  • Removes rigidity regarding cash and kind
  • Assured availability of credit at any time enabling reduced interest burden on the farmer.
  • Helps in buying seeds, fertilizers at farmer’s convenience and choice
  • Maximum credit limit based on agriculture income
  • Repayment only after harvest
  • Rate of interest as applicable to production agricultural credit
  • Security, margin and documentation norms as applicable to agricultural advance
  • Simplified disbursement procedures
  • Any number of withdrawals subject to credit limit
  • Surplus money can be deposited into the account and full limit can be availed of whenever he/she requires funds during the validity period of KCC thereby he/she can save interest.
  • If the account is in credit balance Bank pays interest on such balance at Savings Bank interest rate.
  • Contingent credit needs will be suitably built into the KCC facility. The contingent needs pertaining to medical expenses, expenses for education of children and expenses related to marriage ceremonies, funerals, births and certain religious ceremonies can be financed under the arrangements. The drawings for the contingent need will be added to the total limit under the card scheme and the farmer can avail the facility as and when required to an extent of 20% of the peak credit limit granted (subject to a maximum or Rs.10000.00) for production credit.
  • Personal Accident Insurance Scheme is available for KCC holder at very nominal premium
  • ‘Swadhan’ of SBI Life can be purchased to insure against risks of life
3. Eligibility:
Existing borrower farmers having good track record for the last two years and who require production credit limit of Rs.5000.00 and above are eligible. However, if the Branch Manager is satisfied about the credit worthiness of new borrowers, the facility may also be extended to the new borrowers
4. Issue of Cards:
The beneficiaries under the scheme will be issued with a Kisan Credit Card –cum-Pass Book incorporating the name, address, particulars of land holding, borrowing limit, validity period etc.
5. Validity:
  1. The Credit Card is normally valid for 5 years subject to an annual review
  2. (ii) The review may result in continuation of the facility, enhancement of the limit / reduction of the limit or cancellation of the limit depending upon the performance of the borrower
6. Rate of Interest:
Rate of Interest will be the same as applicable to Crop loans/ Agricultural Cash Credit. Presently @ 7% p.a.
7. Documentation:
Usual documents as prescribed for Agricultural Cash Credit will be obtained
8. How to get Kishan Credit Card:
  • Approach our nearest branch and get the details
  • Application form for KCC (download)
  • Eligible farmers will get a Kisan Credit Card-cum-pass book. It has the name, address, particulars of land holding, borrowing limit, validity period, a passport size photograph of holder which may serve both as an identity card and facilitate recording of transactions on an ongoing basis
Borrower is required to produce the card-cum-pass book whenever he/she operates the account

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