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    Bandhan Bank Kisan Credit Card

    Overview about Bandhan Bank Kisan Credit Card

    Agriculture and livestock activities under the farming sector are the areas that form the backbone of the economy of India and thus, require special attention. Bandhan Bank, with its network of over 2000 locations spread over 22 states in India, is committed to provide that much required attention to the farming community through its offerings. A relatively new bank that has its headquarters in Kolkata, Bandhan Bank started with a capital base of INR 2570 crore and hopes to attain a goal of INR 3052 crores in the near future. Its Kisan Credit Card can aid anyone aiming to invest in quality farm, livestock, plant or warehouse, by providing Term Loans and Working Capital Loans in the face of cultivation exigencies.

    Purpose – What can a Bandhan Bank Kisan Credit Card be used for

    The farming community is integral to the economy of India and to the physical well-being of every Indian who consumes the produce of this nation. Bandhan Bank Kisan Credit Card is a feature which can be used by farmers to support their cultivation needs. It can be used to cover expenses related to production, contingencies and practically anything else which could prove to be a stumbling block pertaining to farming. Designed to offer credit facilities to farmers, this offering covers farming and ancillary activities, giving farmers more leeway to focus on their livelihood.

    Eligibility Criteria for Bandhan Bank Kisan Credit Card

    Individuals seeking to avail the benefits of this offering must be satisfying the following basic eligibility criteria

    • Individual or Non-individual – Though the offering is aimed at farmers, anyone interested in availing credit for the purpose of agriculture and livestock is eligible. Non-individuals can be among self-help groups or joint liability groups
    • Age – In case of individuals, the minimum ag at entry should be 23 years and maximum age at maturity should be 60 years
    • Security – Details of holdings need to provided, though the bank may or may not consider it as a security

    Features and Benefits of Bandhan Bank Kisan Credit Card

    Some of the major features and benefits of Bandhan Bank Kisan Credit Card scheme are mentioned below.

    • Multipurpose farming credit – This credit can be used for any farming related necessity, it being a working capital credit as well as a term loan
    • Loan amount – Based on individual farming needs and requirements, a maximum of INR 3 lakhs can be given as loan
    • Margin – There is no margin associated with this product.
    • Competitive interest rate – The interest rate is linked to the bank’s base rate and can be somewhat higher than 12% per annum
    • Ease of applicability in process – The procedure is quite simple and lucid, for availing credit. Farmers who operate quite far from the nearest bank branch can also be aided

    Documents Required for Bandhan Bank Kisan Credit Card

    Individuals who wish to avail credit under this scheme are expected to furnish the following documents.

    • Valid government approved ID card (Driving license, PAN card, Passport, etc.)
    • Proof of income (bank statements, IT returns, etc.)
    • Documents showcasing ownership of agricultural land
    • Two passport size photographs

    The bank can ask for additional documents as per its discretion, depending on the borrower and other conditions.

    Note – The interest rate is subject to change at the discretion of Bandhan Bank without prior intimation and individuals should check it before applying.

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