Kissan Credit Card

*Note: This erstwhile Laxmi Vilas Bank product is discontinued.

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Overview

Kisan Credit Card helps farmers make short-term payments for labour, material and other immediate requirements. This product helps them tide over the critical months without affecting personal finances. The card acts as a low risk loan as well as an account that earns interest on credit balances.

Salient Features

• Avail up to Rs. 10 lacs (- conditions apply)
• RBI Repo Rate (6.25%) + Spread
• Cheque facility for limits over Rs. 50,000
• Flexible repayment terms
• Revolving limits that get replenished on repayment
• Credit facility assured for three years
• Earn Interest on Credit Balances
• Certain notified crops insured under the National Agricultural Insurance Scheme
• Borrowers covered by Personal Accident Insurance Coverage up to Rs. 50,000. Premium amount split between borrower and bank in 1: 2 ratio

Eligibility

• Farmers who have been accountholders of the Bank for a minimum period of 1 year
• Literate farmers, between ages 25 and 65
• Farmers who cultivate their own or family land that has an assured irrigation facility such as a canal, tank, open well, or bore well