Sarva Haryana Gramin Bank Kisan Credit Card

The two types of credit products offered under agriculture loan section for farmers are,

1. Sarva Haryana Gramin Bank Kisan Credit Card
2. Sarva Haryana Gramin Bank Kisan Investment Credit Card Yojana

The important features of both credit cards are mentioned in the sections given below.

Margin for Sarva Haryana Gramin Bank Kisan Credit Card:

The margin requirements for Sarva Haryana Gramin Bank Kisan Credit Card is as given below.

1. For production credit, no margin is required.
2. For term loan, the margin requirements are as given below.

Features and Benefits of Sarva Haryana Gramin Bank Kisan Credit Card:

The following features and benefits come with Sarva Haryana Gramin Bank Kisan Credit Card.

1. Multi-Purpose Loan: Through this credit card, Sarva Haryana Gramin Bank aims to provide hassle free production credit to agriculturists for meeting the cultivation cost and also to maintain long term plantation and horticultural crops.The loan aims to satisfy the financial requirements for the following.
   1. Produce marketing loan
   2. Post harvest expenses
   3. Short term credit requirements for crop cultivation
   4. Consumption requirement for farmer household
   5. Working capital requirements for the maintenance of farm activities and assets related to agriculture like inland fishery, dairy animals etc.
   6. Investment credit requirement for agriculture and other allied activities like pump sets, sprayers and dairy animals.
2. High Loan Quantum: Farmers can avail considerable amount as loan with Sarva Haryana Gramin Bank Kisan Credit Card. The following points are to be noted about the quantum of loan.
   1. Short term limit for the first year - The quantum is decided by scale of finance for the crop as decided by DLTC x extent of area cultivated + 10% of the limit towards post harvest, consumption and household requirements + an additional 20% of the limit towards repair and maintenance expenses of farm assets.
   2. Short term limit for 2nd and consecutive years - During the second year and subsequent years, the limit is calculated by the formula used for first year + 10% of the limit towards cost increase or escalation in financing scale for every successive year, up to 5th year, for the tenure of 5 years.
   3. Term loans for investments towards minor irrigation, land development, purchase of farm equipments and other allied activities will be based on the unit cost of assets proposed to be acquired by borrower, the activities already being done on the far, the judgement of repayment capacity done by the bank based on total loan burden including existing loan responsibilities faced by the farmer.
3. Affordable Margin: For production credit availed using Sarva Haryana Gramin Bank Kisan Credit Card, the margin is Nil. For term loans, the margin percentage varies from 5% to 25% depending on the loan quantum and there is no margin for term loan amounts up to Rs. 1 lakh.

Highlights of Sarva Haryana Gramin Bank Kisan Investment Credit Card Yojana

The main highlights of Sarva Haryana Gramin Bank Kisan Investment Credit Card (KICC) Yojana are as follows.

1. Purpose of the Loan:The loan availed using KICC can be used for the following purposes.
   1. Production and investment credit purposes related to agriculture and other allied activities.
   2. As consumption loan for purposes like education, marriage, medical expenditure, family or religious functions, purchase of consumer goods, cars and two wheelers.
   3. Rural housing related purposes like purchase or construction of new house, purchase of a plot for house construction, extension of house, renovation of existing house, construction of toilet, bathroom and other sanitary facilities.
2. Loan Quantum:The quantum of loan is decided based on the property value offered as security and annual income of the farmers. However, the maximum permissible loan limit is Rs. 20 lakhs.
3. Nominal Security Requirements:The security requirements for KICC loan is as follows.
   1. Hypothecation of assets created with bank loan as primary security.
   2. Mortgage of land that is valued at 200% of the loan amount with primary security, if any, as collateral security
   3. The valuation of land is done on the basis of current market rate or circle rate, whichever is lower.
   4. In case the new borrowers have a considerable amount of deposit as savings and fixed deposit ( Rs. 1 lakh and above) for the last two years the security will be either of - 100% liquid collateral like NSCs and deposits or 50% liquid collateral plus 50% mortgage of land.
4. Repayment Tenure:Some of the important features to be noted about repayment tenure are as follows.
   1. The aggregate credit during past 12 months must be at least equal to the maximum outstanding in the account.
   2. No withdrawal from the account should remain outstanding for more than 12 months.
   3. For housing loan, the maximum repayment tenure is set at 9 years including a gestation period of 12 months.
   4. For allied agricultural activities, the repayment period is maximum of 7 years.
   5. For main agricultural activities, the maximum repayment period allowed is a maximum of 9 years.

Eligibility for Sarva Haryana Gramin Bank Kisan Credit Card

The eligibility criteria for both the Kisan credit card schemes offered by Sarva Haryana Gramin Bank is as follows.

Sarva Haryana Gramin Bank Kisan Credit Card:

1. All farmers - individuals and joint borrowers who are owner cultivators are eligible to apply for Sarva Haryana Gramin Bank Kisan Credit Card.
2. Share croppers, tenant farmers and oral lessees are eligible to apply for this credit card.
3. Joint Liability Groups (JLGs) and Self Help Groups (SHGs) of farmers including share croppers and tenant farmers can apply for this Kisan Credit Card variant.
4. The applicant must be an Indian resident and must be in the age group of 18 to 70 years.

Sarva Haryana Gramin Bank Kisan Investment Credit Card Yojana:

1. This facility is offered to existing customers who are exemplary agricultural land owner borrowers and have been continuously availing loan from the bank.
2. The applicant must have good repayment history for a period of two years from the date of application.
3. New farmers who have had satisfactory dealing with other banks for a time frame of minimum 2 years will be eligible after presenting the evidence.
4. If the land is mortgaged in the name of more than one applicant, all owners will be eligible jointly.
5. The condition of track record of two years may be relaxed in case of new farmer applicants having a considerable fixed deposit account or savings account with deposits of Rs. 1 lakh and above for the last two years given that, the loan is secured by 100% liquid collateral security of means like NSCs and deposits or the loan is secured by 50% mortgage of land which is valued at 50% of bank loan for marginal and small farmers and 75% for other farmers along with 50% of collateral security.

Documents Required for Sarva Haryana Gramin Bank Kisan Credit Card

The applicant must submit the following documents to complete the application process for Sarva Haryana Gramin Bank Kisan Investment Credit Card Yojana and Sarva Haryana Gramin Bank Kisan Credit Card Scheme.

1. KYC documents - address proof and identity proof
2. Land documents, if required
3. Security PDCs, if required

All the documents given above must be submitted along with completely filled application form and passport size photographs. Applicants must keep documents like PAN card, Aadhaar card and voter ID handy to speed up the application process.

Credit cards make payments easy for all expenses online and offline while offering various benefits

Find a Card >>