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

    Indian Overseas Bank (IOB) has introduced the New Kisan Credit Card with the aim of providing timely and adequate credit support to farmers to help them meet their cultivation and other agricultural needs.

    IOB New Kisan Credit Card details

    Category Details
    Loan amount Will depend on the lender
    Repayment Tenure Up to 5 years subject to renewal every year
    Margin
    • For crop loan component - Nil
    • For term loan component- 15% - 25%
    Interest Rate
    • For credit component up to Rs.3 lakh – 7% p.a.
    • For credit component above Rs3 lakh – 1-year MCLR + 2.50% i.e. 9.95% p.a.
    Security Hypothecation of crops and other similar assets
    Issuance of card Rupay Kisan Credit Card will be issued to all the credit card holders

    Features of IOB New Kisan Credit Card

    The features of IOB New Kisan Credit Card are given below:

    • Meet the short-term requirements related to the cultivation of crops.
    • To meet expenses, post the harvesting of crops.
    • Produce marketing loan.
    • Meeting the consumption requirements of the household of the farmers.
    • Generate working capital for the maintenance of crops and other farm assets.
    • Generate investment credit for agricultural activities.

    Eligibility criteria

    Given below are the eligibility criteria one will have fulfil to avail the IOB New Kisan Credit Card:

    • Farmers
    • Share croppers, tenant farmers, oral lessees.
    • SHGs or farmer’s joint liability groups.

    FAQs on IOB Kisan Credit Card

    1. How to apply for IOB Kisan Credit Card?

      You can visit the nearest IOB branch along with all the necessary documents to apply for an IOB Kisan Credit Card.

    2. How can I get in touch with an IOB customer care executive in case I have any query?

      In case you have any queries, you can call 1800 890 4445 or 1800 425 4445.

    3. Can dairy farm owners be eligible to apply for IOB Kisan Credit Card?

      Yes, dairy farm owners can also apply for IOB Kisan Credit Card.

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