Punjab State Cooperative Agricultural Development Bank Kisan Credit Card

Punjab State Cooperative Agricultural Development Bank Kisan Credit Card Overview:

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.

Features and Benefits:

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.

Punjab State Cooperative Agricultural Development Bank Kisan Credit Card Scheme:

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.

How to apply for the Punjab State Cooperative Agricultural Development Bank Kisan Credit Card?

To apply for this Kisan Credit Card, you can approach the nearest Punjab State Cooperative Agricultural Development Bank.

Other Agricultural Banking Products Offered by Punjab State Cooperative Agricultural Development Bank:

The bank offers agricultural loans for the following purposes:

1. Minor Irrigation
2. Soil Conservation
3. Farm Mechanisation
4. Diversified loaning
5. Plantation & Horticulture
6. Storage Godowns
7. Non Conventional Energy Sources
8. Farm Forestry
9. Non Farm Sector

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.

1. Agricultural Marketing Infrastructure (AMI)
2. Dairy Entrepreneurship Development Scheme (DEDS)
3. Medium Term Refinance Scheme
4. Agriclinics
5. Kisan Credit card
6. Agri Service centre
7. Vermiculture
8. Rural Housing
9. Education loan
10. Contract Farming Scheme
11. Swarozgar Credit Card
12. Fruit & vegetable waste compost unit
13. Bio-Fertiliser unit

Punjab State Cooperative Agricultural Development Bank Kisan Credit Card FAQs:

1. What is the loan amount I can get on my Punjab State Cooperative Agricultural Development Bank Kisan Credit Card?

   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.

2. What is the maximum credit limit available on the Punjab State Cooperative Agricultural Development Bank Kisan Credit Card?

   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.

3. When do I have to repay the Kisan Credit Card bill?

   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.

4. What are the different loan terms offered on the Punjab State Cooperative Agricultural Development Bank Kisan Credit Card?

   The different loan terms available are given below.

   • For loans upto Rs. 3 lakhs, the tenure is 5 years.
   • For loans between Rs. 3 lakhs and Rs. 10 lakhs is 7 years.
   • For loans between Rs. 10 lakhs and Rs. 18 lakhs is 10 years.