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Mahabank Kisan Credit Card (MKCC)

Mahabank Kisan Credit Card (MKCC)
Type of FacilityCash Credit (MKCC)
PurposeWorking capital for:
  • Cultivation of crops
  • Post harvest Expenses.
  • Consumption requirements of farmer household
  • Maintenance of farm equipments
  • Working capital for allied agricultural activities
EligibilityWorking capital for:
  • All farmers- Individual / Joint landholders
  • Tenant Farmers, Share Croppers, Oral Lessees
  • SHG's/JLG's of farmers
LimitLimit for first year - Scale of finance of crop ( as decided by DLTC * Extent of area cultivated + 10% of limit towards post-harvest / household / consumption requirements + 20% of limit towards repairs and maintenance expenses of farm assets. From 2nd year onwards plus 10 % of the limit towards cost escalation / increase in scale of finance for every successive year { 2nd,3rd ,4th and 5th year}
Drawing PowerDrawing limit (D.P.) for each year as worked out as above
MarginNIL as margin is considered while fixing Scale of Finance
Rate of Interest
  • Presently as per Govt. of India guidelines : Limit up to Rs3.00 lakhs:  @7% p.a. (fixed) under interest subvention  scheme up to one year  
  • Limit above Rs 3.00 lakhs:
    • Rs.3.00 Lakh to Rs.10.00 lakh : 1 Year MCLR + BSS@0.50% + 2.00%     
    • Above Rs.10.00 lakh                : 1 Year MCLR +BSS@0.50%+ 3.00% 
  • Limit Up to Rs 1.60 lakh :1)Hypothecation of Crops
  • Limit Above Rs 1.60 lakh:1) Hypothecation of Crops &
    2)Third Party Guarantee/Mortgage of Land
  • Kharif- Next March
  • Rabi- Next June
  • Horticultural crops- Next September
Validity / RenewalThe KCC limit is valid for 5 years subject to annual review.
Other Terms ConditionsInsurance for notified crops is available as per Government guidelines from time to time.
Paper requirement1.Loan application ie Form No -138, Enclosure – B2
  • All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant
  • No dues certificates of the applicant from surrounding financial institutions including PACS
  • Legal search from advocate on Bank’s panel for loans above Rs.1.60 lakh where land is to be mortgaged
  • 2. Guarantee form F-138
  • All 7/12, 8 A & PACS dues certificate of the guarantors
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