#1
11th October 2012, 08:56 AM
| |||
| |||
Allahabad Bank Credit Card
Sir I want to know about the Kisan Credit Card of Allahabad Bank so please can you give me the info about the card or tell me from where I can get the info.
|
#2
13th October 2012, 09:32 AM
| |||
| |||
Re: Allahabad Bank Credit Card
The Allahabad Bank offers Kisan Credit Card. Here are the details of the card: Eligibility: Farmers with agricultural land and Tenants Farmers forming "Joint Liability Group" can apply for the card. Validity: 3 years subject to annual review. Security: For loans upto Rs.1, 00,000/- : Hypothecation of crops & movable assets. |
#3
19th May 2015, 10:12 AM
| |||
| |||
Re: Allahabad Bank Credit Card
Can you tell me in detail about the Akshay Krishi – Kisan Credit Card Scheme offered by Allahabad Bank as I want to apply for the scheme?
|
#4
19th May 2015, 10:13 AM
| |||
| |||
Re: Allahabad Bank Credit Card
The Akshay Krishi – Kisan Credit Card Scheme offered by Allahabad Bank is to provide adequate and timely credit support under a single window to the farmers for their cultivation and other needs Target Group : All Farmers – Individuals/ Joint borrowers who are owner cultivators. Owner cultivator cultivating leased land along with self cultivated land. Tenant Farmers, Oral Lessees & Share Croppers. SHGs or Joint Liability Groups of Farmers including tenant farmers, share croppers etc Facility Crop Loan Component: Cash Credit Allied activities component: Cash Credit - Working capital for activities allied to agriculture. Term loan Component : To meet Capital requirements Credit Limit Crop Loan Component Crop loan limit is sanctioned for a period of 5 years, subject to renewal of the limit each year. The 1st year limit consists of Cost of Cultivation + 30% for Contigency+30% for Domestic Expenses. The Limit for subsequent years is arrived by adding 10% of the limit towards cost escalation/ increase in Scale of Finance up to 5th year. Working capital for activities allied to agriculture 30% of the 1st year limit. Term Loan The Term loan component under the scheme is designed to meet the capital expenditure where the asset life is such that repayment is ensured within 9 years. Term loan limit shall be restricted to seven times of annual surplus generated from present/proposed farm operations as well as allied activities OR 50% of the value of land. Term Loan -Maximum limit Rs.10 lakh under Akshay Krishi Kisan Card Scheme Margin For Crop loan Component: Nil For Term Loan Limit under Akshay Krishi Kisan Credit Card scheme where the limit is arrived on the basis of Mortgage of Land- Nil Interest On Debit balances: As applicable to agricultural advances. Interest subvention announced by Central Government and/or State Government from time to time is also available to crop loan borrowers. On Credit Balances in AKCC a/cs : The interest as applicable to S/B account (presently 4%) is paid on Credit balance on daily basis. Security For loans up to Rs. 1,00,000.00 – Hypothecation of crops/movable assets. For loans above Rs. 1,00,000.00 – Hypothecation of crops/movable assets AND Mortgage/Charge Creation of land as per Agricultural Credit Operation Act of the states concerned OR Charge/lien over liquid securities in the form of Fixed Deposit/NSC/KVP etc. and gold, providing full cover to the limit granted OR Guarantee from two persons of adequate means and repute – acceptable to the Bank. Insurance : Specified crops grown in notified areas will be covered under Rashtriya Krishi Bima Yojna / Modified National Crop Insurance Scheme/ Weather Based Crop Insurance Scheme as operated by concerned State Government. Personal Accident Insurance Scheme (PAIS) is also available. Optional Health Insurance for farmer customers is available |
|