Gramin Bank of Aryavart Kisan Credit Card

Gramin Bank of Aryavart Kisan Credit Card Scheme Overview:

Gramin Bank of Aryavart, through its Kisan Credit Card scheme, aims to provide financial help to the farmers. Using the loan money, farmers can fulfil their agricultural and domestic requirements. Farmers do not have to worry much about the liability of this loan as the rate of interest is low and they get ample time to repay the money back to the bank.

• Kisan Credit Card for Tenant Farmers or Oral Lessees or Joint Liability Groups (JLGs)

  Through this credit card, Gramin Bank of Aryavart aims to provide financial help to farmers who are engaged in agricultural activities as oral lessees or tenant farmers and do not own lands in their names.

• Kisan Samadhan Card

  Gramin Bank of Aryavart provides short and medium term loans to farmers through this card. As part of this scheme, the bank also provides them with credit for repairing their farm machines and for fulfilling their consumption requirements.

• Financial Assistance against Storage Receipt

  Gramin Bank of Aryavart understands the importance of the agriculture sector in India and thus attempts to provide every kind of support to the people engaged in agricultural activities. The bank provides credit to farmers against warehoused produce so that a good marketing price can be availed during sale time.

Features and Benefits of Gramin Bank of Aryavart Kisan Credit Card Scheme:

• Kisan Credit Card:

  The features and benefits of Gramin Bank of Aryavart Kisan Credit Card are as follows –

  • No Margin – There is no margin on Gramin Bank of Aryavart Kisan Credit Card
  • Credit Limit – The credit limit is decided on the basis of the finance scale of the crops that will be grown by the farmer taking the loan
  • Repayment – The money taken on loan has to be repaid to the bank by the farmer after the harvesting and marketing of the crops
• Kisan Credit Card for Tenant Farmers or Oral Lessees or Joint Liability Groups (JLGs):

  The features and benefits of Gramin Bank of Aryavart Kisan Credit Card for Tenant Farmers or Oral Lessees or Joint Liability Groups (JLGs) are as follows –

  • No Margin – There is no margin on Gramin Bank of Aryavart Kisan Credit Card for Tenant Farmers or Oral Lessees or Joint Liability Groups (JLGs)
  • Loan Amount – The loan amount is Rs.50, 000 per member. Farmers can take a maximum loan of Rs.5, 00, 000 under this scheme
  • Repayment – The loan has to be repaid according to the revolving cash credit facility
• Kisan Samadhan Card:

  The features and benefits of Gramin Bank of Aryavart Kisan Samadhan Card are as follows –

  • Margin – For a production credit of up to Rs.50, 000, there is no margin. If the production credit is over Rs.50, 000 then there is a 15 percent margin on the loan. If it is an investment credit, then the margin is 15 percent
  • Repayment – The money has to be repaid to the bank by the farmer in a period of 5 to 7 years. This time frame is inclusive of the gestation period
  • Loan Amount – The loan amount given under this scheme is 10 times of the net agriculture income of the farmer
• Financial Assistance against Storage Receipt:

  The features and benefits of this scheme by Gramin Bank of Aryavart are as follows –

  • Margin – The margin on loan is 30 percent of the cost of the project
  • Repayment – The money has to be repaid to the bank after the marketing the crop produced, (depending on the season).
  • Loan Amount – Under this scheme, the bank gives 70 percent of the value of the produce that is stored as loan. The maximum amount of loan that a farmer can avail is Rs.10, 00, 000

Gramin Bank of Aryavart Kisan Credit Card Scheme Eligibility Criteria:

• Kisan Credit Card:

  Farmers who have a term loan and an agricultural land for the purpose of agriculture and allied activities are eligible to get a short term cash credit limit for the production of crops

• Kisan Credit Card for Tenant Farmers or Oral Lessees or Joint Liability Groups (JLGs):

  A group of five to ten tenant farmers who have been a part of the Self Help Groups for past 3 months and are graded as per the SHG model are eligible to apply for a loan under this scheme

• Kisan Samadhan Card:

  Farmers who have a Kisan Card and also short and medium term loans are eligible to apply for this card, provided that they have a 3 year history of regular and satisfactory repayments

• Financial Assistance against Storage Receipts:

  A farmer or a group of farmers who are involved in the production of food grains (which includes fruits) are eligible to take a loan under this scheme, provided that they have a short term loan under the Kisan Credit Card

Interest Rates for Gramin Bank of Aryavart Kisan Credit Card Scheme:

• Kisan Credit Card:
  • The rate of interest is 7 percent for a loan amount of up to Rs.3, 00, 000 (wherever the interest subvention is available)
  • The rate of interest is 10.5 percent for a loan amount of up to Rs.50, 000 (wherever the interest subvention is unavailable)
  • The rate of interest is 13.5 percent for a loan amount which exceeds Rs.50, 000 (wherever the interest subvention is unavailable)
• Kisan Credit Card for Tenant Farmers or Oral Lessees or Joint Liability Groups (JLGs):

  • The rate of interest is 7 percent for a loan amount of up to Rs.3, 00, 000 (wherever the interest subvention of 3 percent is available)

  • The rate of interest is 9 percent for a loan amount of up to Rs.50, 000 (wherever the interest subvention of 3 percent is unavailable)
  • The rate of interest is 12 percent for a loan amount which exceeds Rs.50, 000 (wherever the interest subvention of 3 percent is unavailable)
• Kisan Samadhan Card:

  The rate of interest on loans taken under this card ranges from 7 percent to 13.5 percent, depending on the cost of the project

• Financial Assistance against Storage Receipts:

  The rate of interest is 13.5 percent per annum for a loan amount of up to Rs.10, 00, 000 and 14.5 percent per annum for a loan amount that exceeds Rs.10, 00, 000

Other Agricultural Products / Schemes offered by Gramin Bank of Aryavart:

Gramin Bank of Aryavart provides the following agricultural products and schemes, apart from the Kisan Credit Card Scheme –

• Amra Krishak Card
• Farm Mechanisation
• Capital Investment Subsidy Scheme of Rural Godowns / Cold Storage
• Financial Assistance to Farmers for Purchase of Two Wheelers
• General Credit Cards
• Scheme of Agriculture Graduates for Establishing Agri Clinics and Agri Business
• Financial Assistance to Farmers for Purchase of Land for Agriculture Purpose
• Vermi Compost Hatchery Unit Scheme
• Rural Housing Finance Scheme
• Swarojgar Credit Card Scheme

Gramin Bank of Aryavart Kisan Credit Card FAQs:

1. How can a farmer apply for the Gramin Bank of Aryavart Kisan Credit Card Scheme?

   A farmer can apply for the Gramin Bank of Aryavart Kisan Credit Card Scheme by visiting the bank and filling up the application form.

2. How can one get more information about the Gramin Bank of Aryavart Kisan Credit Card Scheme?

   One can get more information about the Gramin Bank of Aryavart Kisan Credit Card Scheme directly from the bank. He or she can visit the bank’s website or their branch or contact them on their customer care number.

3. By when can a farmer repay the money taken on loan through Kisan Credit Card?

   A farmer can repay the money taken on loan through Kisan Credit Card after the harvesting and marketing of the produce is done.

4. If a farmer takes a loan of Rs.3, 00, 000 from the bank through Kisan Credit Card, what will be his rate of interest?

   If a farmer takes a loan of Rs.3, 00, 000 from the bank through Kisan Credit Card, his rate of interest will be 7 percent, wherever there is availability of interest subvention.