[nilesh]

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Hii sir, I Wants to get the Information About the KIsan Credit Card Scheme of the Corporation Bank Will you Please Provide It ?

[Vishal Kotkar]

Kisan Credit Card

The Corporation Bank offers the Kisan Credit Card to farmers to meet their credit needs such as the farmer’s consumption requirements, Working Capital required for agricultural and allied activities, investment credit requirement for agriculture and other allied activities and also to meet post-harvest expenses.

Feature

Credit to meet the financial requirements of agricultural and other allied activities.
Ancillary credit for crop production and other contingencies.
Insurance coverage for Kisan Credit Card holders.
National Crop Insurance scheme is offered to the Kisan credit cardholders, which provides coverage for crop loans given under the KCC scheme for certain crops.
Protection is provided against loss of crops due to pest attacks, natural calamities, etc.
In some cases collateral security is to be provided. If the loan amount is above Rs. 100000/-, then the cardholder has to pledge his land as mortgage and hypothecate the crops raised on it.


Loan Amount

Short term credit that is derived on the 1st year as determined by the crop’s scale of finance plus a contingency limit which is 30% of the short term credit limit plus a consumption limit which is 30% of the short term credit limit (with a maximum cap of Rs.15.00 lakh).

Security:

The security that has to be pledged with the Bank are as follows:

For a credit limit up to Rs.1 lakh, the hypothecation of crops as security is to be done as per the guidelines set by Reserve Bank of India.
The loans sanctioned against a credit card limit of not more than Rs. 3,00,000 with the hypothecation of crops, and a tie up for recovery.

For more Information you may Contact to the Nearest branch of the Corporation Bank