Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
The Kisan Credit Card Scheme is offered by Punjab State Cooperative Agricultural Development Bank to provide financial assistance to farmers. One can avail of this card as a loan with repayment tenures of 5, 7 and 10 years. The credit card is sanctioned for the agricultural sector and related activities. The bank also extends the eligibility of this card for non-farm sector activities.
Financial Assistance:
Farmers can avail of loans up to 18 lakhs for agriculture and related activities and also for non-farm sector activities.
Long Repayment Periods:
The credit sanctioned on the Kisan Credit Card have loan tenures ranging between 5 and 10 years. The repayment is made in half yearly instalments.
Minimized Hassle:
With the Kisan Credit Card, farmers can avail of credit as and when they require without approaching the bank over and over again. Once the credit card is approved, they can use the card to make any number of withdrawals up to the credit limit.
Under the Kisan Credit Card Scheme, the Punjab State Cooperative Agricultural Development Bank will sanction Rs. 1 lakh per acre of land holding. The following table depicts the different loan amount and tenures one can avail under this scheme.
| Scheme | Loan Amount | Repayment tenure |
|
Kisan credit card scheme Agriculture & allied activities |
Upto Rs. 3 lakh | 5 years |
| 3 lakh to 10 lakh | 7 years | |
| 10 lakh to 18 lakh | 10 years | |
|
Kisan credit card scheme Non farm sector |
Upto Rs. 3 lakh | 5 years |
| 3 lakh to 10 lakh | 7 years | |
| 10 lakh to 18 lakh | 10 years |
To apply for this Kisan Credit Card, you can approach the nearest Punjab State Cooperative Agricultural Development Bank.
The bank offers agricultural loans for the following purposes:
Punjab State Cooperative Agricultural Development Bank has introduced a number of new schemes to extend financial assistance to the agriculture sector. The following are the new schemes offered.
The loan amount or credit limit depends on the ownership of land. Under this scheme, the bank will sanction a loan on the basis of Rs. 1 lakh per acre.
The maximum credit limit available on the Punjab State Cooperative Agricultural Development Bank Kisan Credit Card is Rs. 18 lakhs in the agricultural and non-farm sectors.
You need to make payments in half yearly instalments till the end of your loan tenure. The tenure or loan term depends on the amount sanctioned on your credit card.
The different loan terms available are given below.
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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
