IDBI Kisan Credit Card

To make credit facilities simplified and accessible to farmers, IDBI Kisan Credit Card offers several benefits and features, such as:

• The credit facility is provided on a timely basis under a single window for various agricultural and allied activities. This helps cover expenses such as diesel costs, electricity costs, investments towards machinery or any other finances related to agriculture.
• The interest rates offered on these credit cards is extremely nominal and affordable as it adheres to the interest subvention scheme offered by the government of India. The idea behind this is to ensure that farmers shift away from non-institutional credit methods and to make the repayment capacity better.
• IDBI Kisan Credit Card offers loans up to ₹ 3 Lakhs with no processing fee.
• Farmers have access to a high crop loan quantum that is based on various features including the cropping pattern, the scale of finance and the operational land holding. They also have access to an added ₹ 50,000 that is provided to any marginal farmers based on the landholding pattern and the crop that is cultivated.
• You cannot have an outstanding upon withdrawals made on the Kisan Credit Card for over 12 months. It is also not mandatory to have a zero debit balance in your IDBI Kisan Credit Card account.
• The IDBI Kisan Credit Card may also be used to make any cash withdrawals from ATMs to provide immediate cash in case of an emergency.
• IDBI Kisan Credit Card holders are eligible for personal accident cover as per the guidelines provided by the Government of India.

Please Note: IDBI Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only. 

In order to avail IDBI Kisan Credit Card, the applicant must fulfil certain eligibility criteria as mentioned below:

• The applicant should be a minimum of 18 years of age and a maximum of 70 years of age.
• The applicant must be a resident of India.
• This card is available for all owner-cultivators, whether they are individuals or joint borrowers.
• Even sharecroppers, tenant farmers, Joint Liability Groups and Self Help Groups qualify to apply for this card.
• This card is also available for tenant farmers, oral lessees and sharecroppers.

As mentioned above, the purpose of an IDBI Kisan Credit Card is to ensure that the farmers are able to repay the loan on time. For this, the interest rate is extremely nominal. For any loans up to ₹ 3 Lakhs, the minimum rate of interest per annum is 7%. This is covered by the interest subvention scheme. For loans above ₹ 3 Lakhs, the interest rate is BBR or minimum if it is offered in SFMF. If not, additional interest at the rate of 1.25% will be charged.