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KCC Loans
KCC Loans
To meet: short term credit requirements for cultivation of crops
post-harvest expenses
consumption requirements of farmer house hold
working capital for maintenance of farm assets and activities allied to agriculture
like dairy animals, inland fishery etc., where required
produce marketing loan
Though this Kisan Credit Card Scheme envisages providing both short term credit and
investment credit/long term credit under a single credit window, at resent we are
restricting the KCC for crop loans only to avoid complication
Interest rate is 7% per annum up to due date and after due date the prevailing normal rate of interest i.e. 14% at present to be charged.
GOI providing Interest Subvention @ 2% for 12 months from the date of disbursement and Interest incentive @ 3% to prompt repaid borrowers
Fixation of Credit Limit/Loan amount
a) Limit for the first year: Scale of finance for the crop (as decided by District Level Consultative Committee) x Extent of area cultivated + 10% of limit towards postharvest/household consumption requirements + 20% of limit towards repairs and maintenance expenses of farm assets where required.
b) Limit for the second and subsequent year: First year limit for crop cultivation purpose arrived at as above PLUS 10% of the limit towards cost escalation/ increase in scale of finance for every successive year (2nd, 3rd, 4th and 5th year).
c) Drawing limit: Drawing limit for short term cash credit (crop loans) should be fixed based on the cropping pattern and the scales of finance for crop production, consumption needs and repairs and maintenance of farm assets etc. (where required).
In case the revision of scale of finance for any year by the district level committee exceeds the notional hike of 10% contemplated while fixing the five year limit, a revised drawable limit may be fixed while renewing the crop loan during 2nd or subsequent years.
Disbursement: The short term component of the KCC limit is in the nature of revolving cash credit facility.
Repayment Period: The Kisan Credit Card limit is valid for a period of 5 years subject to annual review. The review may result in continuation of the facility, enhancement of the limit /withdrawal of the facility, depending upon increase in cropping area/ pattern and performance of the borrower.
The KCC loan amount should be liquidated within 12 months without the need to bring the balance in the account to zero at any point of time. In other words, the due date for repayment of KCC loan under revised KCC scheme is 12 months from the date of first disbursement i.e. the amount has to be repaid by the same date of next year.
KYC
Land records.
click here for servcie charges
To meet: short term credit requirements for cultivation of crops
post-harvest expenses
consumption requirements of farmer house hold
working capital for maintenance of farm assets and activities allied to agriculture
like dairy animals, inland fishery etc., where required
produce marketing loan
Though this Kisan Credit Card Scheme envisages providing both short term credit and
investment credit/long term credit under a single credit window, at resent we are
restricting the KCC for crop loans only to avoid complication
Interest rate is 7% per annum up to due date and after due date the prevailing normal rate of interest i.e. 14% at present to be charged.
GOI providing Interest Subvention @ 2% for 12 months from the date of disbursement and Interest incentive @ 3% to prompt repaid borrowers
Fixation of Credit Limit/Loan amount
a) Limit for the first year: Scale of finance for the crop (as decided by District Level Consultative Committee) x Extent of area cultivated + 10% of limit towards postharvest/household consumption requirements + 20% of limit towards repairs and maintenance expenses of farm assets where required.
b) Limit for the second and subsequent year: First year limit for crop cultivation purpose arrived at as above PLUS 10% of the limit towards cost escalation/ increase in scale of finance for every successive year (2nd, 3rd, 4th and 5th year).
c) Drawing limit: Drawing limit for short term cash credit (crop loans) should be fixed based on the cropping pattern and the scales of finance for crop production, consumption needs and repairs and maintenance of farm assets etc. (where required).
In case the revision of scale of finance for any year by the district level committee exceeds the notional hike of 10% contemplated while fixing the five year limit, a revised drawable limit may be fixed while renewing the crop loan during 2nd or subsequent years.
Disbursement: The short term component of the KCC limit is in the nature of revolving cash credit facility.
Repayment Period: The Kisan Credit Card limit is valid for a period of 5 years subject to annual review. The review may result in continuation of the facility, enhancement of the limit /withdrawal of the facility, depending upon increase in cropping area/ pattern and performance of the borrower.
The KCC loan amount should be liquidated within 12 months without the need to bring the balance in the account to zero at any point of time. In other words, the due date for repayment of KCC loan under revised KCC scheme is 12 months from the date of first disbursement i.e. the amount has to be repaid by the same date of next year.
KYC
Land records.