| Type of Facility | Cash Credit (MKCC) |
| Purpose | Working capital for:- Cultivation of crops
- Post harvest Expenses.
- Consumption requirements of farmer household
- Maintenance of farm equipments
- Working capital for allied agricultural activities
|
| Eligibility | Working capital for:- All farmers- Individual / Joint landholders
- Tenant Farmers, Share Croppers, Oral Lessees
- SHG's/JLG's of farmers
|
| Limit | Limit 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 Power | Drawing limit (D.P.) for each year as worked out as above |
| Margin | - Up to Rs.2.00 Lakh – NIL
- Above Rs.2.00 Lakh-15% to 20%
(depending upon purpose and Quantum of Loans) |
| 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%
|
| Security | - Limit Up to Rs 2.00 lakh :1)Hypothecation of Crops
- Limit Above Rs 2.00 lakh:1) Hypothecation of Crops &
2)Third Party Guarantee/Mortgage of Land
|
| Repayment | - Kharif- Next March
- Rabi- Next June
- Horticultural crops- Next September
|
| Validity / Renewal | The KCC limit is valid for 5 years subject to annual review. |
| Other Terms Conditions | Insurance for notified crops is available as per Government guidelines from time to time. |
| Paper requirement | 1.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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