KISAN GOLD CARD SCHEME (KGC)

KGC is a general-purpose loan meant for meeting credit needs of farmers for productive and consumption purposes. Consumption loans to meet domestic expenses like Children's education, marriage, medical expenses etc will be included to the extent of 20% of the limit.

Who are eligible?

Farmers with excellent repayment record for at least past 2 years, new farmers with sizeable deposits with our branches for 2 years, good borrowers with other banks, who have closed accounts, are eligible for this loan.

Purpose:

Loan sanctioned can be utilized for creation or purchase of any productive assets other than for purchase of land, construction of farm house and purchase of tractor and its accessories.

Loan amount

Loan amount is fixed on the basis of Five times the annual farm income or 50% of the value of land (to be) mortgaged as collateral security, whichever is less, with a maximum of Rs. 10 lacs

Documents you need to provide

Land records, other than that is already given to the bank, encumbrance certificates, if required.

Security

(a) Upto Rs 100000/-

Hypothecation of assets created.

(b) Above Rs 100000/-

Hypothecation of assets and mortgage/ Charge over land or any other tangible security

How do you repay:

Repayment will be in Quarterly/Half Yearly/Yearly installments depending on the harvest of the crops or the liquidity created by the agriculture activity undertaken with a maximum of 6-7 years. However, the limits availed for setting up of Horticultural Orchards can be repaid over a period of 9 years from the date of sanction.

How to apply for this loan:

Please contact our nearest branch or talk to the marketing officers.