Priority Sector Loan
Rural Schemes
KCC
 
  Objective :
  • The scheme aims at providing comprehensive credit requirements including Short Term Credit Needs and reasonable component for
  • consumption / ancillary needs with flexible and simplified procedure under single window.
 
  Eligibility Criteria
  • All Farmers who are owner cultivators
  • Tenant farmers ,Oral lessees and Share croppers
  • SHGs and JLGs of farmers including tenant farmers, share croppers
 
 Purpose
  • For raising different crops.
  • For carrying out various activities allied to agriculture to augment their farm income
  • For the purpose of acquiring different farm equipment
 Quantum of loan :
  • As per scale of finance
 Margin :
  • Up to Rs.1.00 lacs - Nil. Above Rs.1.00 lacs – 15% to 25%
 Rate of Interest :
  • up to Rs.1.00 lacs : 7% ; Above Rs.3.00 lacs 50 Bais points less than BPLR
 Repayment :
  • OGBKCC will remain valid for 5 years subject to renewal of the same on yearly intervals
 Security :
  • Prime Security Hypothecation of future crops & assets to be created out of loan. Bank’s Mortgage charge on the immovable property that is to be up-graded / developed out of loan / limit should be created.
  • However for loans / limits above Rs100000/-, collateral of immovable property / other approved security at least to the extent of 100% of the loan/limit should be obtained
 Processing Fee
  • No processing fee should be charged for loan/ limit up to Rs 3.00 lacs under OGBKCC. For limits over Rs 3.00 lacs, processing fee should be charged @ 1% of the loan /limit
 
Interest Subvention
  • As Applicable
 
For Form goto Forms Downlod dection .For further details, contact the nearest Branch