Kotak Mahindra Bank Kisan Credit Card

• The card can be used to meet credit requirements after the harvesting of the crop.
• The card can be used to meet the day-to-day requirements of the cultivation like procurement of seeds, fertilizers and etc.
• The card can be used to buy machinery which helps in agricultural and related activities like pump set, sprayers and dairy animals.
• The card can be used to meet the working capital requirement in the agricultural sector including inland dairy and fisheries.
• The Kotak Kisan credit card can also be used for personal expenses of the farmer.
• The rate of interest charged by the bank on the card is very nominal. This feature encourages the farmers to use the card over other non-institutional sources of credit.
• Under this scheme, the farmers get a high quantum of loan. For the first year, a short credit amount is fixed and then throughout the year, the borrower’s crop pattern is observed and also all other expenses. After that, every consecutive year the credit limit sanctioned is increased by 10% up to the 5th year of the card.
• All the credit during the year is to be repaid back within the period of one year. The revolving credit facility is also available on the Kisan Credit Card.
• Any surplus in the credit card account will fetch saving interest rate by the bank. This gives financial flexibility.
• No processing fee is charged for loan amount up to ₹ 3 Lakhs.
• The bank will provide a passbook along with the card which will have all the details about the cardholder like name, address, credit limit, validity and etc.
• At a very nominal rate of interest, the borrower can apply for personal accident insurance policy along with the card.
• The rate of interest is charged from 7% to 14% depending on the profile of the applicant.

• The applicant should be above 18 years of age.
• Farmers, individuals and joint-owners or cultivators are all eligible for this scheme.
• Tenant farmers and oral lessee can also apply for this loan scheme.
• SHGs (Self-help group) and JLGs (joint liability group) of farmers can apply for this scheme.
• Progressive agriculturist can also apply for this loan scheme.

• Application form filled and duly signed with the passport size photographs.
• Identity proof like passport, PAN card, voter ID card, Aadhaar card, etc.
• Address proof like Aadhaar card, ration card etc.
• Documents related to the holding of land.
• Documents related to collateral security

Kotak Kisan Credit Card can be easily availed by farmers if they meet the prescribed eligibility parameters and deposit their above-mentioned documents. The card can then be used for agricultural requirements.