Sarva Haryana Gramin Bank Kisan Credit Card

This credit card comes with the following key features-

• Provides credit to meet the cost of both short-term and long-term need of crop farming
• Covers the expenses incurred after harvesting of the crop
• Expenditure incurred by farmers on domestic consumption is also covered
• Provides a certain amount of liquidity for marketing purposes
• Helps in fulfilling the day-to-day financial needs of the farmers related to farm activities and even helps in maintaining the resources like dairy animals, inland fishery, sprayers, pump sets, etc. related to farm

The card facilities are eligible for the following farmers:-

• Agriculturists who are joint borrowers or individuals
• Farmers of rented land
• Oral Lessees
• Share Croppers
• Sarva Haryana Gramin’ s or JLG (Joint Liability Group) of farmers

The card is valid for 5 years, based on the annual report.

Farmers can avail considerable amount of loan with this card. The following points are to be noted about the credit limit of the loan:

• The credit limit for the short-term remains constant for 1st year and the bank determines the amount based on the following formula-Amount of finance which is required (the financing scale would be determined by the District Level Technical Committee) X Range of the cultivation area + 10% limit for requirements after harvesting/household or consumption+ 20% limit for the expenses incurred on maintenance and repairs of the assets of the farm.

• The short-term limit for 2nd & subsequent year (till 5th year) will be same as limit in 1st year + 10% limit for the cost increase in the amount of finance for each consecutive year, assuming that farmers will be growing crops in the same manner for the next four years.

Bank fixes the credit limit for term loans. Term loans are generally based on agricultural activities like an investment in land development, purchasing of farm equipment’s, minor irrigation, etc. The long term credit limit is based on proposed investment to be made by farmers plus its capacity of repaying back.

For Production credit availed using Sarva Haryana Gramin Bank Kisan Credit Card, the margin is Nil.

For Term Loans-

• If the loan amount is up to ₹ 1 Lakh then the margin is Nil.
• If the loan amount exceeds ₹ 1 Lakh and up to ₹ 2 Lakh then the margin is 5%.
• If the loan amount exceeds ₹ 2 Lakh and up to ₹ 5 Lakh then the margin is 10%.
• And, if the loan amount exceeds ₹ 5 Lakh then the margin is 25%.

All these details, one can ascertain by visiting a nearby branch or via the official website of Sarva Haryana Gramin Bank.