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Long Term Credit
Kisan All Purpose Term Loan

  • To create a hassle free single -term loan limit to farmers for all term loan requirements. Like Farm Mechanization. Land Development, Minor irrigation, Water Conservation, Horticulture, Allied activities and other agri related activities etc.
  • However development projects with a long gestation period (say more than 3-4 years) may not be considered in view of the specific tenor of this credit product (egg. demo plantation-requiring gestation of 6-7 years)
    • Individual, Joint/ Group of Farmers-owner cultivators, JLGs/SHG etc. engaged in Agriculture and related activitiese.
    Type of Loan:
    • It shall be single transaction Term loan Limit Loan repayable within 9 years. The purposes for which the limit is granted shall not be a part of the Kisan Credit card limit and it shall be a separate Single transaction account.
    Quantum of loan Ceiling
    • To be based on the investment plan given by the farmer to be undertaken in the next 2-3 years.
    • The plan can be a combination of investment/development activities relating to agriculture and allied activities.
    • It shall be subject to 5 times of Annual income of the farmer including allied activities or 50% of the value of land mortgaged whichever is lower, with a maximum Rs. 20 Lakhs-
    • Small and Marginal farmers: 5%
    • Other farmers 15%
    • The entire margin need not be brought in upfront for the entire limit.
    • The required margin may be brought at the time of creation of asset only.
    • Upto Rs- 1 lakh - Hypothecation of Assets created out of the loansM/
    • Above Rs-1 Lakh (aggregate loan) - Mortgage of Land (it shall be at least 200% of the limit sanctioned.
    Rate of Interest:
    • Loan documentation may be obtained one time for the sanctioned limit.
    • As and when the borrower requires disbursement for creating the asset/ development, a simple letter/letter of undertaking to be obtained that shall-
      • Indicate the purpose, cost, loan amount of the planned activity (Investment/Development purpose as indicated in the application)
      • Undertaking to create the asset within 15 days/execute the development within 30 days
      • The relative bills need to be submitted to the Bank.
      • The bank may insist on photograph of pre-post development stages to establish the creation of the asset as per the proposal and as a proof of end use.
    Processing and other charges
    • Upto Rs 25000 - Nil
    • Above Rs.25000/- as applicable to agricultural term loans as devised by the respective Banks
    • In suitable installments coinciding with overall income generation of the farmer, without linking to any individual project within a maximum period of 9 years.
    I Anup Kumar Das, Son of Late Jiban Krishna Das, residing at Vill.- Paschim Nandabhanga, P.O.- Bakhrahat, P.S.- Bishnupur, Dist.- South 24-Parganas, West Bengal
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