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vijayabank.com Vijaya Bank Kisan Card Scheme

Organization : Vijaya Bank
Facility : Vijaya Kisan Card Scheme

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Details : https://www.vijayabank.com/Agri-Banking/VIJAYA-KISAN-CARD-SCHEME
Home Page : https://www.vijayabank.com/Home

Vijaya Kisan Card Scheme

** VKC is an operative limit with validity for 5 years subject to annual review.
** Avoids repetitive documentation every year.

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Related : Vijaya Bank Online Application for Grievance : www.statusin.in/5369.html

** Meets crop production as well as post-harvest, household and farm assets maintenance expenses and also term loan requirements under a single window, in a flexible manner.
** Withdrawalble through ATM enabled RuPay Kisan card/BCA locations

Eligibility :
** All farmers/tenant farmers/ Oral lessees/SHG/JLG of farmers/ Companies/Partnership Firms/HUFs.
** Should not be a defaulter to any other Bank/Financial Institution.

Quantum of Finance :
** Based on cropping pattern and the scale of finance fixed by District Technical Committee (DTC).
** Reasonable post harvest/household/consumption/maintenance of farm machinery/working capital foragricultural allied activities expenses is added to crop production component.
** Term loan component based on cost of investment.

Security Norms :

Loan Amount Security norms
Under tie up arrangement / facility with Sugar factories/Tobacco Board etc
For loans up to Rs. 3.00 lakh Hypothecation of crops
For loans above Rs. 3.00

lakh

1. Hypothecation of crops.

2. Mortgage of land / creation of charge on landed properties in States where Statutes are available for creation of such charge.

Non Tie up cases :

For loans up to Rs. 1.00 lakh

 

Hypothecation of crops.

For loans above Rs. 1.00 lakh 1. Hypothecation of crops.

2. Mortgage of land / creation of charge on landed properties in States where Statutes are available for creation of such charge.

For Term Loan component :

i) For loans up to Rs. 1.00 lakh Hypothecation of assets created out of loan and hypothecation of crop
ii) For loans above Rs.1.00 lakh 1) Hypothecation of crops and assets created out of loan

2) Mortgage of land / creation of charge on landed properties in States where Statutes are available for creation of such charge.

Rate of Interest :
Crop Loans up to Rs 3.00 lakh covered under Interest Subvention scheme of Govt of India up to the date of repayment or up to the due date, whichever is earlier subject to a maximum period of 1 year : 7% p.a.
In case of non interest subvention scheme, the ROI is as follows :

Loan Limit Rate of Interest
Up to Rs.50000 BR+0.55%
Above Rs.50000 up to Rs. 2 lakh BR +1.30%
Above Rs. 2 lakh up to Rs.10 lakh BR +2.05%
Above Rs. 10 lakh up to Rs.25 lakh BR +2.30%
Above Rs. 25 lakh up to Rs.1 crore BR +2.40%
Above Rs.1 crore BR +2.55%

Repayment :
Crop Proceeds to be routed/credited to the account and annual review of the account.

Processing charges :

Loan Limit Other than

Individuals

Individuals in

Other than rural

areas

Individuals in

Rural areas

Up to & Inclusive of

Rs. 25000/-

Nil NIL NIL
Rs.25,001/- to

Rs.2.00 lakhs

0.50%+ST with a

minimum of

Rs.500+ST

0.30%+ST with a

minimum of

Rs.250+ST

0.20%+ST with a minimum of Rs.200+ST
Above Rs.2.00 lakhs

to Rs.1.00 Crore

0.50%+ST 0.25%+ST 0.20%+ST with a

Maximum of

Rs.15000/-

Above Rs.1.00 crore Rs. 600+ST per

Lakh with a

Maximum of Rs.

20 Lakh +ST

Rs.500+ST per lakh

with a maximum of

Rs.20 Lakh+ST

Rs.300+ST per lakh

with a maximum of Rs.7 Lakh+ST

Note : Base Rate(BR) presently at 9.65%

Security Norms :
** For limits upto Rs. 1.00 lakh – Hypothecation of assets purchased out of bank loan.
** Above Rs. 1.00 lakhs – Hypothecation of assets purchased out of bank loan and Mortgage of land and building.

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