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  • Capital Local Area Bank Kisan Credit Card is Rated as "Satisfactory" by 3 Users

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    Capital Local Area Bank Kisan Credit Card

    The farming community is perhaps the most important yet most ignored community in India, with their hard work and effort going unrecognised. Capital Local Area Bank is the largest local area bank in India and is credited with bringing modern banking facilities to rural areas, at affordable costs. With a base in Punjab and with over 15 years of experience, CLAB has a business of over Rs 2760 crores with 42 branches catering to both the rural and metropolitan population. Its Kisan Credit Card scheme is primarily designed to aid farmers, providing financial relief to help them grow with the rest of the country.

    Purpose – What can a Capital Local Area Bank Kisan Credit Card be used for

    The growth and advancement of India lies in the health of India, and the health lies on what we eat, making farmers integral to our growth and development. The Capital Local Area Bank Kisan Credit Card is a feature which can be used by farmers to meet and supplement their cultivation needs. It can be used to cover any expense related to production, emergencies and anything which can become a hurdle in farming. Designed to offer short term credit facilities to farmers, this scheme covers the entire gamut of farming, making it a crucial aid.

    Eligibility Criteria for Capital Local Area Bank Kisan Credit Card

    Individuals who wish to avail the benefits of this scheme need to satisfy the following basic eligibility criteria.

    • Farmer – This scheme is open only to farmers and cultivators. Others are not entitled to credit under this scheme.
    • Land – Farmers who wish to avail credit under this scheme should own agricultural land.
    • Guarantor – A third party guarantor acceptable to the bank is needed.
    • Security – A farmer should provide adequate security in the form of standing crops or mortgage of land.

    Features and Benefits of Capital Local Area Bank Kisan Credit Card

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

    • Multipurpose farming credit – This credit can be used for any farming related necessity, ranging from purchasing equipment or digging a new well.
    • Loan amount – There is no upper limit on the amount of credit one can avail, depending on the security provided and cropping pattern.
    • Margin – There is no margin associated with this product.
    • Competitive interest rate – The interest rate ranges between 11.65% and 14.5% per annum, making it competitive without burdening a borrower financially.
    • Simple process – Availing this scheme is simple and hassle free, with dedicated officials fast-tracking applications. Credit can be availed as and when required, ensuring a farmer is not at the mercy of finances.

    Documents Required for Capital Local Area 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.

    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 Capital Local Area Bank without prior intimation and individuals should check it before applying.

    Capital Local Area Bank Kisan Credit Card Reviews

    • review Personal Loan
      "Process is much easier"
      0.5 5.0/5 "Blown Away!"
      They must provided the interest rate 15% for my personal loan. Its easy to get a loan from CAPITAL finance. Within 20 days i have received my loan. They have charged me a processing fee of 2%. I have got a loan amount of Rs. 2.04 lakhs and i have chosen the tenure period for 4 years. I don't find any difficulties with them.
      Was this review helpful? 0
      , faridabad
      Reviewed on Nov 16, 2018
    • review Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      I have taken this loan almost 3-4 years back, but the rate of interest they have been charging had been a little high. The process had been a little time consuming. I have taken this loan amount for the purchase of a car. It would have been great if it had taken less time during the process and the loan amount had been sufficient.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 21, 2018
    • review Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      I have taken this loan almost 3-4 years, the loan amount which they had been provided had been satisfactory. They had been provided with an average service, where they need to be improved in lot parameters. I have taken this loan for the purchase of a mobile.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 21, 2018
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