Gramin Bank of Aryavart Kisan Credit Card

The main objective of the credit card is to help the farmers financially by providing short term cash credit for crop yield and term loan for farming related activities. The following are the features and benefits of the Kisan Credit Card offered by the Gramin Bank of Aryavart:

• Interest Rate: The interest rate starts from 7% onwards. When interest subvention is available, the rate of interest for a loan amount up to ₹ 3,00,000 is 7%. When interest subvention is not available the rate of interest for a loan amount up to ₹ 50,000 is 10.50% and above that13.50%.
• No Margin: The bank does not keep any margin.
• Credit Limit: The bank sets the credit limit on the basis of the financial scale of the crops the farmer grows and takes the loan for.
• Easy Repayment: A farmer can pay back the amount after they have harvested and sold the crop in the market.

Farmers can visit the nearest branch of Gramin Bank of Aryavart and ask for the necessary forms. They can fill the form and then submit it back at the bank.

The following things should be kept in mind:

1. The applicant should not have a bad credit history with any bank.
2. Farmers can obtain short term cash credit and term loan also through this credit card.

The eligibility criteria for the Kisan Credit Card are the following:

• Applicants can be Individual Borrowers, Tenant Farmers, Oral Lessees, or Joint Liability Groups.
• Farmers should have agricultural land to obtain short term cash credit limit for crop production.

Applicants have to submit the following documents to avail the Kisan credit card:

1. Copy of ID proof, such as Aadhar card or Voter card.
2. Copy of an address proof, which validates the applicant’s current address.
3. Recent passport size photograph.
4. Duly-filled and signed application form.

• Where should the farmers go to collect the application form?

The farmers can to go to any nearby branch of Gramin Bank of Aryavart to get the application form.

• How the bank decides the credit limit?

The bank decides the credit limit on the basis of the financial scale of the crops that should be produced by the borrower.

• Can a farmer withdraw money from ATM through the Kisan Credit Card?

Yes, this card can be used in ATM.