Multiple banks. Different interest rates. Call it a "conflict of interest".

    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.


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