Maharashtra Gramin Bank Krishiganga Kisan Credit Card Loan
Purpose of Krishiganga Kisan Credit Card Loan
To provide adequate and timely finance to farmers to increase their farm income and thereby repayment of bank loan in time.
Eligibility for Krishiganga Kisan Credit Card Loan
All farmers in the service area as well as potential /quality borrowers/farmers out of Service Area easily accessible from Branch having cultivable land
Documents Required for Krishiganga Kisan Credit Card Loan
Following basic documents are required for getting Krishiganga Kisan Credit Card Loan from Maharashtra Gramin 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 Krishiganga Kisan Credit Card Loan
- Eligible farmers to be provided with a Kisan Credit Card and a pass book or cardcum-pass book.
- Revolving cash credit facility involving any number of drawals and repayments within
- the limit.
- Limit to be fixed on the basis of operational land holding, cropping pattern and scale
- of finance.
- Entire production credit needs for full year plus ancillary activities related to crop
Interest Rate for Krishiganga Kisan Credit Card Loan
The interest rate on Krishiganga Kisan Credit Card Loanranges from 8.00% to 12.50%. These rates also differ from lender to lender. Some of other significant factors in determination of interest rate are value of agriculture land owned by the applicant, income of the applicant, repayment capacity, type of loan applied for and past credit history of the applicant.
Interest rate, prevailing from time to time, will be applicable for the loans financed under the scheme. As the interest rates are subject to change. Hence, you should visit the nearest branch to know latest Interest Rates.
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 Krishiganga Kisan Credit Card Loan
Processing charges be levied as per instructions from time to time. Processing charges be recovered from all eligible KCC accounts at the time of every annual review/ renewal
Other Fees & Charges for Krishiganga Kisan Credit Card 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 Krishiganga Kisan Credit Card 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 Maharashtra Gramin Bank Krishiganga Kisan Credit Card 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 Maharashtra Gramin Bank Krishiganga Kisan Credit Card Loan?
There are following steps through which you can apply for Krishiganga Kisan Credit Card Loan and avail it easily:
(1) Visiting nearest branch of Maharashtra Gramin Bank
You can search for and visit your nearest branch of Maharashtra Gramin 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, Maharashtra Gramin Bank will verify your application.
(8) Approval of Loan
If all the things are found correct, your loan application will be approved by Maharashtra Gramin 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.