Hdfc Bank Kisan Credit Card 2024, Overview, Interest Rates & Eligibility

Overview

HDFC Bank offers the Kisan Credit Card (KCC) with the name HDFC Bank Kisan Gold 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. The Kisan Gold Card will broadly cover crop production requirements, post harvest and domestic consumption requirements and other related expenses. You can also purchase agricultural equipment and implements, fulfil irrigation requirements, construct farm buildings, and invest in other agricultural related activities such as dairy, piggery, poultry, bee-keeping, etc.

Objective

HDFC Bank Kisan Card aims at providing adequate and timely credit to farmers to meet cultivation needs with easy documentation, speedy approvals, and with tenure up to 84 months, to make their lives easier.

Eligibility

• All Farmers, Individuals / Joint borrowers who are owner cultivators
• The land must be actively generating crops

Interest Rate

Interest rate, prevaling from time to time, will be applicable for the loans financed under the scheme. Presently, it is being offered at 11.46% p.a.

Insurance

HDFC Bank Kisan Gold Card Holders willget a free Personal Accident Cover of Rs. 2 lakhs, when they opt for a Retail Agri Loan.

Validity

The Kisan Credit Card is valid for five years, subject to annual review.

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:

1. Death due to accident (within 12 months of the accident) caused by outward, violent and visible means: Rs 50,000
2. Permanent total disability: Rs.50,000
3. Loss of two limbs or two eyes or one limb and one eye: Rs.50,000
4. 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