Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Canara Bank Kisan Credit Card

    Canara Bank is the pioneer of the Kisan Credit Card Loan Scheme which extends financial assistance to farmers for agricultural and allied activities. The card gives farmers access to easy finance to help them cultivate and maintain the crop. The card is also available for related purposes. Borrowers can repay the loan in half-yearly or annual installments over a period of 5 years.

    Features and Benefits of Canara Bank Kisan Credit Card:

    Easy Access to Credit:

    The Kisan Credit Card gives farmers access to financial assistance for a number of purposes. Credit is given to help the agricultural sector for short term requirements as well as investment purposes.

    Flexible Tenures:

    For every withdrawal made under the short term sub-limit, it should be liquidated in 12 months in case of short-term crops. For long-term crops, this period is extended to 18 months. The repayment period is 5 years.

    Flexible Instalments:

    Kisan Credit Card holders can repay the loan in half-yearly or yearly installments.

    Debit cards:

    Individual applicants will be issued RuPay debit cards. This will give farmers access to ATMs and POS terminals.

    Small Margin:

    The margin requirements for the Canara Bank Kisan Credit Card are relaxed. For loans up to Rs. 1 lakh, there is no margin required. For loans above Rs. 1 lakh taken for crop cultivation and maintenance, the margin is as per SOF. For related activities, 15% - 25% of the projected expenditure will be taken as the margin.

    Purpose of Canara Bank Kisan Credit Card:

    The Canara Bank Kisan Credit Card is issued for the following agricultural purposes.

    • To fulfill short term requirements for cultivation.
    • To meet any expenses arising post-harvest.
    • To meet any requirements for household consumption.
    • To provide a working capital needed for the maintenance of farm assets and related activities that include inland fisheries and dairy animals.
    • To meet investment requirements for assets and related activities such as sprayers, pump sets, dairy animals and so on.

    Canara Bank Kisan Credit Card Eligibility:

    To get a Canara Bank Kisan Credit Card, you should meet the following requirements.

    • You should be a farmer, or engaged in cultivation and allied activities.
    • Both individuals and joint borrowers should be owner cultivators.
    • Tenant farmers, sharecroppers and oral lessees can also apply.
    • Joint liability groups or SHGs which include tenant farmers and sharecroppers can apply.
    • You should be of legal age. The card will not be issued to minors.
    • You should not be marked as a defaulter. The party and individual should not be a defaulter to any bank or financial institution.

    Canara Bank Kisan Credit Card Margin Requirements:

    The margin for the Canara Bank Credit Card is as follows.

    Loan Amount Purpose Margin
    Up to Rs. 1 Lakh All activities No margin
    Above Rs. 1 Lakh

    Crop cultivation

    Crop maintenance

    As per SOF
    Sub limit in respect of WC requirement for allied activities, consumption need, non-farm sector, farm machinery maintenance 15% to 25% of the projected expenditure -

    Canara Bank Kisan Credit Card Security Requirements:

    In order to get a Kisan Credit Card sanctioned, security needs to be offered to Canara Bank. The following are the security options available.

    Loan Amount Security
    Up to Rs. 1.5 lakhs
    • Hypothecation of crops or assets.
    Above Rs. 1.5 lakhs
    • Hypothecation of crops or assets.
    • Mortgage of landed properties.

    The hypothecation of the crops or assets refers to anything created or bought out of the finance received from Canara Bank Kisan Credit Card.

    How to apply for Canara Bank Kisan Credit Card?

    You can apply for a Kisan Credit Card from Canara Bank using any of the following methods.

    • You can visit the Canara Bank website and apply online. You can track the status of your credit card application online.
    • You can visit the nearest Canara Bank Branch.

    Other Agricultural Products/Schemes offered by Canara Bank:

    Canara Bank offers a wide range of agricultural and related schemes to individual agriculturist, corporates, firms, and NGOs who are engaged in agriculture and allied activities.

    • Crop Loans
    • Krishi Mitra Card Scheme
    • Canara Kisan Od
    • Kisan Suvidha Scheme
    • Kisan Tatkal
    • Kisan All-Purpose Term Loan
    • Pumpset Loans
    • Farm Development Loan
    • Farm Forestry Loans
    • Development Loans For Farm Level Storage Structures
    • Development Loans For Plantation/Horticulture
    • Drip/Sprinkler Irrigation Loans
    • Financing Solar Pumps For Irrigation
    • Farm Machinery Loans
    • Scheme For Financing Agriculturists-For Purchase Of Vehicles
    • Beekeeping (Apiculture)
    • Raising Cross Breed Heifers
    • Bullock/Camel/Cart Loan
    • Dairy Loans
    • Sheep & Goat Rearing Loan
    • Piggery Loan
    • Poultry & Duck Rearing
    • Estate Purchase Loan (Epl)
    • Lending To Micro Credit Groups (Mcg’s)
    • Scheme For Financing Setting Up Of Agri Clinics / Agri Business Centres
    • Scheme For Redemption Of Debts Of Farmers From Non-Institutional Sources
    • Scheme For Financing Through Self Help Groups (SHG)
    • Agricultural D R I Loans
    • Fisheries Loan
    • Sericulture Loan
    • Produce Loans
    • Purchase of Land for Agriculture Purpose
    • Scheme for Financing Micro Finance Institutions
    • Scheme for Providing Credit to Oral Lessees and Tenant Farmers for Raising Crops through Joint Liability Groups

    FAQs on Canara Bank Kisan Credit Card

    1. Can I apply online for the Canara Bank Kisan Credit Card?

      Yes, you can apply on the Canara Bank website for a Kisan Credit Card. Locate the tab “Online Loan Application and Tracking”. Clicking on this tab will redirect you to the application page. Select the Kisan Credit Card Scheme and apply.

    2. Can I apply for the Kisan Credit Card if I am not a farmer?

      The Kisan Credit Card is designed for the farmers, but any person, partnership firm, private company and public company who are either owner cultivators or engaged in related or subsidiary activities are also eligible for this card.

    3. What collateral do I need to provide for the Canara Bank Kisan Credit Card?

      For loans upto Rs. 1,50,000, you can hypothecate the crops or assets financed by the Kisan Credit Card. For loans above Rs. 1,50,000, you need to hypothecate the crops or assets or mortgage any landed property as security.

    4. What documents are required to apply for a Canara Bank Kisan Credit Card?

      The documents required will be communicated to you by Canara Bank. You will need to submit one ID proof. Any of the following IDs will suffice.

      • Driving License
      • PAN Card
      • Passport
      • Voter’s ID card
      • Ration Card No.
      • Unique ID Number

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    This Page is BLOCKED as it is using Iframes.