Cultivation, irrigation, equipment; the ICICI Bank Kisan Credit Card covers it all. Enjoy hassle-free credit and flexible options.
A Kisan Credit Card (KCC) is essential for farmers to manage their agricultural and allied activities seamlessly. It offers short-term credit to cover cultivation costs, post-harvest expenses, equipment purchases, and working capital needs. The card simplifies access to funds, ensuring farmers have the financial freedom to focus on enhancing productivity without unnecessary stress.
ICICI Bank plays a vital role in supporting Indian farmers by offering a well-rounded Kisan Credit Card programme. With features like overdraft facilities for cultivation and term loans for buying cattle or irrigation equipment, the ICICI Bank KCC meets the diverse needs of farmers.
Additionally, the KCC Eligibility Calculator, available on the ICICI Bank website, helps you estimate the loan amount you could receive for your farming and post-harvest needs. You can even apply for the card online for instant access to benefits.
The ICICI Bank Kisan Credit Card is designed to simplify your financial needs as a farmer while offering flexibility and ease of access.
Here are its key benefits:
You can manage your banking needs without disrupting your daily routine. With ICICI Bank's modern banking infrastructure, you gain access to a vast network of branches, an extensive ATM network, and 24/7 customer care support to resolve your queries anytime.
Enjoy seamless cash withdrawals across the country. The ICICI Bank Kisan Credit Card can be used at any bank’s ATM, along with the convenience of over 10,000 ICICI Bank ATMs. This wide accessibility ensures you always have funds when you need them.
The credit limit is sanctioned for up to 5 years with just one-time documentation. The limit is reviewed annually, ensuring it aligns with your evolving farming requirements, including cultivation, irrigation, and equipment upgrades.
To avail the ICICI Bank Kisan Credit Card scheme, you must meet the following basic requirements:
Age Requirement
The applicant should be between 18 to 70 years of age.
Ownership of Agricultural Land
You must own a piece of agricultural land to qualify for the card.
Engagement in Agricultural Activities
The applicant should be actively involved in agriculture or allied agricultural activities, such as animal husbandry, poultry, or fisheries.
To apply for the ICICI Bank Kisan Credit Card, ensure you have the following documents ready:
Simplified Application Form
KYC Documents
Land Documents
Security Post-Dated Cheques (PDC)
Loan Agreement Form
Additional Documents as per the specific sanction conditions set by ICICI Bank
Ensure all documents are accurate and up to date to streamline the application process and gain quicker access to your ICICI Bank Kisan Credit Card.
Applying for the ICICI Bank Kisan Credit Card is simple and hassle-free. Here’s how you can get started:
1. Check Your Eligibility Online
Use the KCC Eligibility Calculator available on the ICICI Bank website to determine the approximate credit limit you may qualify for
2. Visit the Nearest ICICI Bank Branch
Go to the nearest ICICI Bank branch that offers the Kisan Credit Card
Submit your completed application form along with the required documents to a loan officer
The loan officer will evaluate your application and set a credit limit
After processing, you will receive your Kisan Credit Card
Understanding the fees and charges associated with the ICICI Bank Kisan Credit Card can help you plan your finances effectively.
Here is a detailed breakdown:
1. Interest Charges for Farmer Loans
Maximum Rate: 15.50%
Minimum Rate: 10.10%
Note: The rates apply to loans disbursed from April 1, 2024, to June 30, 2024, excluding crop loan subvention schemes.
2. Processing Fees
Up to 2% of the initial sanction amount at disbursement and renewal
No processing fee for interest subvention cases
For account reviews:
With enhancement: Up to 0.50% of the sanction limit
Without enhancement: Up to 0.25% of the sanction limit
3. Stamp Duty and Legal Fees
Stamp Duty and Statutory Charges: As per applicable state laws during loan processing.
Legal Fees (Except Madhya Pradesh):
Up to ₹3 Lakh: ₹1,750
₹3 Lakh to ₹10 Lakh: ₹2,500
Above ₹10 Lakh: ₹3,500
Legal Fees (Madhya Pradesh):
Up to ₹3 Lakh: ₹2,350
₹3 Lakh to ₹10 Lakh: ₹3,100
Above ₹10 Lakh: ₹4,100
4. Valuation Fees
Agricultural Land Valuation: ₹2,500 per case.
Residential/Commercial Property Valuation: ₹2,500 per property.
5. Penal Charges
Overdue Amount/Instalment: 5% per annum from the due date until payment
Dishonour of Cheque/AD/ECS/NACH: ₹500 per instance for Kisan Credit Card transactions
6. Foreclosure Charges
2% prepayment charge on the outstanding amount if closed within one year of account opening
Yes, you can access loans through the ICICI Bank Kisan Credit Card. It provides a flexible credit facility to meet various farming and allied activities, including cultivation, irrigation, and post-harvest expenses.
The interest rate for ICICI Bank Kisan Credit Card loans varies:
Maximum Rate: 15.50%
Minimum Rate: 10.10%
Mean Rate: 13.11%
Note: The rate depends on the bank’s credit assessment and excludes crop loan subvention schemes.
The key benefits include:
Hassle-free access to funds for farming needs
A wide ATM network, with access to over 10,000 ICICI Bank ATMs and other bank ATMs
Flexible credit limits sanctioned for up to 5 years with annual reviews
Simplified banking services with 24/7 customer care
Farmers aged between 18 and 70 years, owning agricultural land, and engaged in agriculture or allied activities are eligible to apply for the ICICI Bank Kisan Credit Card.