IndusInd Bank is one of the leading banks in India that is dedicated to empowering the financial sector. The bank offers various types of loans to satisfy the financial needs of every individual. One such loan is ‘Indus Kisan’ which is offered to farmers to offer them timely financial assistance. The product is designed to offer short-term and long-term credit facility required for agriculture and all the allied agricultural activities.
Features and Benefits of IndusInd Bank Kisan Credit Card
This loan is offered for two categories namely:
Agricultural Activities: This loan is offered to meet the capital requirements for agriculture. Following are two types of loans offered under this category:
- Crop Loan or Production Loan: This loan is provided to meet the financial requirements of farmers during the crop cultivation phase.
- Investment Loan: This loan is offered as financial assistance to farmers in order to meet the expenses required for the purchase of agricultural equipment like water pump set, installing machinery like drip irrigation, etc. This loan is offered to meet the long-term financial requirements of the agricultural sector.
Allied Agricultural Activities: This loan is offered to meet the financial requirements of the agriculture allied activities like Dairy, Poultry etc. Following are the two sub-categories under this category of loan:
- Agri-Allied Overdraft: This loan is offered as an overdraft facility to meet the capital requirement of all the agri-allied activities.
- Agri-Allied Term Loan: This loan is offered as a term loan facility to meet the expenses required to set-up the agri-allied activities. This is a long-term loan.
Nature of the Loan
- A RuPay enabled IndusInd Kisan Credit Card is issued to the farmer.
- The farmers can directly withdraw the required funds from their CC or OD account using this card from any IndusInd Bank ATM or any other Bank’s ATM.
- This IndusInd Kisan Credit Card can also be used for carrying out transactions at any dealer’s shop.
- The per day cash withdrawal limit of this card at ATMs is ₹ 25,000 while at POS outlets it is ₹ 50,000.
Eligibility Terms for IndusInd Bank Kisan Credit Card
The eligibility terms and conditions for applying to IndusInd Kisan Credit Card are as under:
- Any Resident Indian who falls within the age bracket of 18 years to 70 years. In case the age of the primary applicant is more than 70 years, then the loan can only be availed with a co-borrower.
- The loan can be availed only if the applicant is engaged in agricultural or agri-allied activities.
- At present, the Indus Kisan Credit facility can be availed from selected IndusInd Bank Branches namely: Punjab, Haryana, Rajasthan, Himachal Pradesh, Madhya Pradesh, Gujarat and Maharashtra.
IndusInd Bank Kisan Credit Card- Fees and Charges
Following table exhibits the total fees and charges applicable under this facility
| Particulars | Amount |
| Processing Fee | 1% of the loan amount + taxes |
| Yearly Maintenance Charge | For Loan amount up to ₹ 10 Lakhs: ₹ 800+GST For Loan amount more than ₹ 10 Lakhs but less than ₹ 25 Lakhs: ₹ 1,500+GST For Loan amount more than ₹ 25 Lakhs but less than ₹ 100 Lakhs: ₹ 2,500+GST For Loan amount more than ₹ 10 Lakhs: ₹ 5,000+GST |
| CERSAI Charge for registering non-agriculture property on CERSAI | ₹ 500 + GST |
| Pre-payment Charges | NIL in case the loan is closed after 3 years from the date of disbursement |