Kisan Credit Card Central Bank of India

Hello sir, I am Sujan Mal. I am form Kanpur. I want you to help me by giving me some information about the Central Kisan Credit Card by Central Bank of India. Give me various details about it.

[Kiran Chandar]

As you have asked about the Central Kisan Credit Card by Central Bank of India, I am giving you information about it
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 expenses, plus
20% of limit towards repairs & maintenance, plus
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.


Interest Rate

Limit upto Rs.50,000/-
Above Rs.50,000/- upto Rs.5.00 lacs
Above Rs.5.00 lacs upto Rs.25.00 lacs
Above Rs.25.00 lacs

Base Rate + 0.50%
Base Rate + 1.00%
Base Rate + 1.50%
Base Rate + 2.00%