Axis Bank Kisan Power Loan
Purpose of Kisan Power Loan
- Crop Loans: It includes high-value loans which are beneficial for supporting their farming business in the long run.
- Horticulture Loans: Theese loans facilitate farmers with credit for purchase of inputs, machinery, poly houses, drip irrigation installation, domestic consumption, etc.
Eligibility for Kisan Power Loan
Applicant should be between 18 and 75 years of age
Documents Required for Kisan Power Loan
Following basic documents are required for getting Kisan Power Loan from Axis Bank:
- Valid Identity Proof (any one): Voter ID Card, Aadhaar Card, Ration Card, PAN Card, Passport, Driving License
- Valid Address Proof (any one): Lease deed, Rent Agreement, Passport, Driving License, Ration Card, Utility bill (not more than 3 months old), Bank Statement
- Land ownership/cultivation proof as specified by the lender
- Any other documents as mandated by the lender
Features and Benefits of Kisan Power Loan
- Hassle-free Procedure
- Quick and easy loan sanctions
- Government Subsidy
- Simple Documentation
Interest Rate for Kisan Power Loan
9.99% to 17.99%
Disclaimer: Agriculture Loan interest rates keep on changing. You are advised to check the interest rates with banks before making any decision. Source: Bank Websites
Processing Fees of Kisan Power Loan
1.50% plus applicable taxes, required at the time of disbursement
Other Fees & Charges for Kisan Power Loan
- Outstation Cheque Charges: N.A.
- Late Payment Penalty: 2% per month on overdue amount
- Charges on Part Disbursement: Nil
- EMI Cycle Change Charges: Rs 500
- Cheque Swapping Charges: Rs 500
- Legal, valuation and vetting charges: At actuals
- Stamp Duty and other statutory charges: At actuals as per applicable laws of the State
Repayment Tenure of Kisan Power Loan
The repayment tenure differs from lender to lender. In case of cash credit, it is usually less than 1 year and for long term loans, it varies from 3 to 9 years. There are various flexible loan repayment options available to repay the loan such as monthly, half yearly and yearly instalments, you can select any of them based on your income and repayment capacity.
Why Select Axis Bank Kisan Power Loan?
- Dedicated customer support & service
- Wide network of branches across India
- Multiple loan repayment options
- Attractive & competitive interest rates
- Project assessment capability is available
How to Apply for Axis Bank Kisan Power Loan?
There are following steps through which you can apply for Kisan Power Loan and avail it easily:
(1) Visiting nearest branch of Axis Bank
You can search for and visit your nearest branch of Axis Bank .
(2) Meet the Authorised Official
Meet the official authorised for handling agriculture loan related matters in order to get the advice on your eligibility, documents required, interest rate and can take their help in the loan application process.
(3) Obtain Loan Application Form
Obtain the loan application form from the branch.
(4) Fill up Loan Application Form
Fill up the form properly. Mention the details required in the form. Fill up the form in "Capital Letters". In case of any query in filling up the form, discuss with the official.
(5) Attach Required Documents
Attach a copy of the required documents such as Valid Identity Proof, Valid Address Proof, Land ownership/cultivation proof, etc. with the loan application form.
(6) Submit Loan Application Form along with Required Documents
Submit the loan application form along with required documents to the branch and ask for its acknowledgement.
(7) Processing of Loan Application
After you submit the loan application along with required documents, Axis Bank will verify your application.
(8) Approval of Loan
If all the things are found correct, your loan application will be approved by Axis Bank and you will be informed about the same.
(9) Disbursement of Loan
The loan amount will be credited to your bank account soon after the approval.