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    Axis Bank Kisan Credit Card is Rated as "Excellent!" by 1802 Users

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    Axis Bank Kisan Credit Card Overview:

    The Kisan Power scheme from Axis Bank which features the Kisan Credit Card offers timely financial solutions to farmers for cultivation of crops and allied agricultural activities. The Kisan Credit Card aims to offer adequate credit facilities for farmers to purchase agricultural equipment, carts, bullock, develop land, buy two or three or four wheelers, repair farm machinery or address any domestic need like education of children, sickness, family commitments, functions, etc. Using the Axis Bank Kisan Credit Card, farmers can either take a term loan or a cash credit with flexible repayment options and tenures.

    Features and Benefits of an Axis Bank Kisan Credit Card:

    Kisan Credit Card – KCC:

    Loan Tenure:

    The loan has to be repaid after the harvesting of the crop is done, with sufficient time given to market and sell the produce. For cash credit, the tenure given by Axis Bank is up to a period of one year and for term loans, the tenure available is seven years.

    Other Key Features:

    • Axis Bank customers can get loans to up to a maximum of Rs. 250 lakhs.
    • Borrowers can have dedicated Relationship Managers to handle their bank accounts.
    • Customers can take loans for up to five years and also renew their accounts without any hassles.
    • Axis Bank will sanction similar loan amounts for traditional crops.
    • Axis Bank sanctions loans with quick approvals and instant disbursements at competitive interest rates.
    • Borrowers have to go through a simple documentation process when they apply.
    • Customers can also get loans for farm mechanization and horticulture.
    • Along with the loans, farmers can get crop insurance for all types of notified crops.
    • Customers can visit the nearest Axis Bank branch to get more details on the Kisan Credit Card scheme.

    Eligibility:

    The minimum age of the farmer applicant should be at least 18 years and the maximum age of the borrower should be 75 years towards the end of the repayment tenure. If the borrower is over the age of 60, then a co-borrower below 60 years is required. The co-borrower can be a family member or a legal heir. Join applications can be made from multiple locations and can include up to five individuals.

    Interest Rates:

    Kisan Credit Card Interest Rates - 9.90% to 13.65%

    Fees and Charges - Kisan Credit Card:

      Term Loan Cash Credit
    Processing Fees Up to 1% of the loan amount with taxes Up to 1.5% of the loan amount with taxes
    Legal / Technical Charges Up to Rs. 5000 Up to Rs. 5000
    Stamp Duty / Other Document charges As per state laws As per state laws
    Cheque Bounce Rs. 500 / instance with service tax Rs. 500 / instance with service tax
    Issuance of cheque books No charge for first 100 leaves. Rs. 2 / leaf thereafter No charge for first 100 leaves. Rs. 2 / leaf thereafter
    Prepayment penalty Nil Nil
    Penal Interest For Defaults - 6% per annum For Defaults - 6% per annum
    NOC/ No-dues certificate Nil Nil
    Incidental/ Collection/ Legal / Repossession charges borne by the bank As per the actual amount As per the actual amount
    Charges for filing ROC If filed before 30 days - Rs.1200/ filing plus service tax. If filed after 30 days extra penalty will be charged. If filed before 30 days - Rs.1200/ filing plus service tax. If filed after 30 days extra penalty will be charged.
    Non-submission of Stock Statement Nil Nil
    Non-submission of Stock or property insurance An additional interest rate of 6% will be levied on the outstanding amount. An additional interest rate of 6% will be levied on the outstanding amount.

     

    Other Agricultural Banking products offered by Axis Bank:

    Agri Business Loans:

    • Tractor Loans

      • Loans for Rural Godowns
      • Cattle Power
    • Arthia Power
      • Contract Farming
      • Commodity Power
      • Power Gold Loan
      • Loans given for Horticulture Projects

    FAQs for Axis Bank Kisan Credit Cards:

    1. Can Axis Bank customers get e-statements for their loan accounts?

      Yes, borrowers can also select the option of registering for e-statements and get them delivered to their email addresses.

    2. Is the mobile banking facility available to Agri loan customers?

      Yes, Axis Bank does provide the option to bank on their mobiles to maintain their loan accounts.

    3. What is the validity period of an Axis Bank Kisan card?

      The Axis Bank Kisan credit card is valid for a period of five years.

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