Through its Kisan Credit Card Scheme, Central Bank of India attempts to help the farmers by providing them with money on credit. This credit can be used by the farmers for agricultural or domestic purposes such as –
The features and benefits of Central Bank of India Kisan Credit Card Scheme are as follows –
The credit limit for Central Bank of India Kisan Credit Card is fixed as follows:
The credit limit is based on the finance scale of the crop added to
The credit limit is fixed by adding 10 percent for cost escalation with the limit for the first year.
All the farmers, be it joint borrowers or individual farmers, who are tenants, owner cultivators, sharecroppers, oral lessees and Self Help Groups or JLG (Joint Liability Groups) of farmers are eligible to apply for Central Bank of India Kisan Credit Card.
Kisan Credit Cards By Top Banks
Apart from this Credit Card, Central Bank of India provides the following agricultural products and schemes:
To apply for the Central Bank of India Kisan Credit Card, a farmer has to download the application form from Central Bank of India website, fill it and submit it to the bank.
The farmers can contact the bank when they need any help with regards to their Central Bank of India Kisan Credit Card.
Yes, the farmers can use the loan they receive through Central Bank of India Kisan Credit Card to buy farm equipment.
If a farmer takes a loan of Rs.10 Lakhs through Central Bank of India Kisan Credit Card, his rate of interest will be Base Rate plus 1.5 percent.
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.