Are you a farmer seeking timely and adequate credit support for your agricultural needs? Look no further than the Kisan Credit Card (KCC) offered by Uttar Bihar Gramin Bank. Here’s how you can benefit from this essential financial tool.
Table of Contents
Purpose/Objective
The Kisan Credit Card (KCC) program is designed to provide farmers with the necessary credit support for their agricultural endeavors.
Eligibility
This program is open to:
- Farmers who are cultivators.
- Tenant farmers, oral lessees, and sharecroppers.
- Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) of farmers.
- To qualify, you should not have a history of defaulting on loans from any bank or financial institution.
Validity/Renewal
KCC cards are valid for a period ranging from 1 year to a maximum of 5 years and can be renewed.
Interest Rate
Interest rates are farmer-friendly, set at 7% for credit up to 3 lakhs and 12% for credit above 3 lakhs.
Security
Primary Security: Hypothecation of the crop.
Collateral security is applicable for loans exceeding 1 lakh.
Margin
No margin requirement is applicable.
Insurance
Crop Insurance and Personal Accidental Insurance are mandatory to protect your crops and yourself.
Repayment
Repayment is typically within 12 months.
KCC Card
A KCC RuPay card is available, which can be used at any ATM across the country, adding convenience to your financial transactions.
Interest Subvention
On prompt repayment, a 3% interest subvention is available from the Central Government, providing a valuable incentive.
1 lakh Accidental Insurance
For KCC RuPay card holders, there’s an added benefit of 1 lakh Accidental Insurance available without a premium, provided a transaction occurred using the card within the last 45 days of the accident.
With the Uttar Bihar Gramin Bank Kisan Credit Card (KCC), you gain access to crucial financial support to enhance your farming activities. Our casual and customer-friendly approach ensures that you can discuss your unique agricultural needs with us, and we’ll help you navigate the path to agricultural success.
Don’t miss this opportunity to empower your farming journey. Reach out to Uttar Bihar Gramin Bank today and cultivate a brighter future with the Kisan Credit Card (KCC).
