KCC for Alied activities - Agri & Rural

Quantum of Loan

• Minimum loan : No ceiling
• Maximum Loan : Rs.2.00 lakhs in case of new applicants. Rs.3.00 lakhs for KCC crop loan borrowers including working capital for Animal Husbandry & Fishery activity.
• The scale of finance for Animal Husbandry & Fishery will be fixed by the District Level Technical Committee (DLTC) based on local cost worked out on the basis of per acre/per unit.

Eligibility

• A. Dairy:
  • Farmers and Dairy farmers either individual or joint borrower, Joint Liability Groups or Self Help Groups including tenant farmers having owned /rented/leased sheds
• B. Fisheries:
  • a. Inland Fisheries and Aquaculture:
    • i. Fishers, Fish Farmers (Individual & Groups/ Partners/ Share croppers/ Tenant farmers), Self Help Groups, Joint Liability Groups and women groups.
    • ii. The beneficiaries must own or lease any of the fisheries related activities such as pond, tank, open water bodies, raceway, hatchery, rearing unit, possess necessary license for fish farming and fishing related activities, and any other State specific fisheries and allied activities.
  • b. Marine Fisheries :
    • Beneficiaries listed at above who own or lease registered fishing vessel/boat, possess necessary fishing license/permission for fishing in estuary and sea, fish farming/maricultural activities in estuaries and open sea and any other State specific fisheries and allied activities.
• C. Poultry & small ruminants:
  • Farmers, Poultry farmers either Individual orJjoint borrower, Joint Liability Groups or Self Help Groups including Tenant farmers of sheep/goats/pigs/poultry/birds/rabbit and having owned/ rented/ leased sheds.
  • Not to be defaulter in any other bank / financial institutions.

Interest Rate

• At present, rate of interest up to Rs.3.00 lacs per farmer will be @7% p.a (fixed) as per Government of India (GoI) directives. It is subject to GoI providing 2% p.a. interest subvention to Bank on such advances.
• Additional interest subvention of 3 per cent per annum for prompt repayment borrowers as per GoI directive reduces the effective interest rate charged to borrower @ 4 per cent per annum.
• A borrower will be eligible for Additional interest subvention only if the credit summation for one year from the date of sanction/renewal/ review is more the limit sanctioned.

If loan is not repaid on due date, the interest rate will be linked to One Year MCLR + Spread as determined by Bank from time (Present interest rate: One Year MCLR +3.60% i.e. 10.60%)

Interest Subvention

For the existing KCC holders(Crop Loan) :

• Up to the credit limit of Rs.3.00 lakh including Fishery

For the New KCC-Animal Husbandry & Fishery holders : 

• Up to the credit limit of Rs.2.00 lakh to meet working capital requirement.

A borrower will be eligible for Additional interest subvention only if the credit summation for one year from the date of sanction/renewal/ review is more the limit sanctioned.

Processing Charges

Processing charges and other charges should be recovered each year

• KCC-AH&F Limits up to Rs. 50,000/- : NIL
• Limits above Rs. 50,000/- to Rs.1.50 lakhs : Rs.200+ GST
• Limits above Rs,1.50 lakh to Rs.3.00 lakhs: Rs.250+ GST per lakh or part thereof

Security

• Primary: Hypothecation of combine harvester and accessories.
• Collateral: Nil upto Rs. 1.6 lakh and above 1.6 lakhs – as per bank norms

Mortgage of land /charge on land or liquid collaterals.

Documents Required

• Duly filled in application form
• Identity proof- Voter ID card/PAN card/Passport/ Aadhaar card/Driving License etc.
• Address proof: Voter ID card/Passport/Aadhaar card/Driving license etc.
• Proof of agricultural land/ cultivation.