Dcb Bank Limited Kisan Credit Card 2024, Overview, Interest Rates & Eligibility
Overview
DCB Bank offers the Kisan Credit Card (KCC) with the name DCB Kisan Credit Card. It is a unique Scheme that aims at providing adequate, hassle-free and timely credit support from the banking system under a single window to the farmers for their cultivation & other needs. DCB provides loans for land improvement activity, farm mechanisation and other agri allied activities such as dairy, fishery amongst other livelihood income generation activities of the borrower. We also cater to farmers who are involved in hi-tech agriculture.
Objective
DCB Bank provides adequate and timely credit support for farmers who are owner cultivators, tenant cropper or shared cropper. The Bank provides much needed relief to farmers from the informal banking channel such as money lenders. DCB Bank offers Kisan Credit Card (KCC) to farmers in the form of:
(a) Cash Credit towards short term credit requirement for cost of cultivation or working capital needs.
(b) Term Loan for long term requirement.
Eligibility
- All Farmers - Individuals / Joint borrowers who are owner cultivators
- Tenant Farmers, Oral Lessees & Share Croppers
- SHGs /JLGs of Farmers including tenant farmers, share croppers etc.
Facility
Cash credit or a term loan
Documentation
- Proof of Identity (anyone): Passport / Voters ID card/ Driving License/PAN Card
- Duly filled Application Form with 2 recent passport size photographs
- Address Proof (anyone): Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/ Trade license / Sales Tax certificate
- Documents of land holdings ownership
- Proof of Income as required by the bank
- Documents pertaining to collateral and primary security, as required by the bank
Interest Rate
Interest rate, prevaling from time to time, will be applicable for the loans financed under the scheme.
Insurance
Insurance for the crops are available periodically based on government guidelines.
Validity
The Kisan Credit Card is valid for five years, subject to annual review.
Repayment
The credit granted under the Kisan Credit Card Schemes is to be repaid in 5 years.
Disbursement
Disbursement through various channels, including ICT driven channels like ATM/PoS/Mobile handsets.
What is Personal Accident Insurance Scheme (PAIS) for KCC Holders?
Personal Accident Insurance Scheme (PAIS) is an accident insurance scheme especially designed for KCC holders. NABARD has, in consultation with the representatives of insurance companies, bankers and Govt. of India, finalised the Personal Accident Insurance Scheme for KCC holders, for uniform implementation by banks throughout the country. It was introduced on 14 June 2001.
It covers risk of KCC holders against:
- Death (or)
- Permanent Disability
Death (within 12 months of the accident) or permanent disability should be resulting from accidents caused by external, violent and visible means.
It gives following risk covers:
- Death due to accident (within 12 months of the accident) caused by outward, violent and visible means: Rs 50,000
- Permanent total disability: Rs.50,000
- Loss of two limbs or two eyes or one limb and one eye: Rs.50,000
- Loss of one limb or one eye: Rs.25,000
KCC holder has the option to take benefit of Accident Insurance (including PAIS) whose premium has to be paid by him through his KCC account. Premium payable Rs.15/- for a one year policy while Rs.45/- for a 3-year policy. Premium has to be borne by farmers/bank according to the terms of the Scheme. To avail this insurance cover, the applicant should not be over 70 years of age at the time of availing the Kisan Credit Card