PNB Kisan Credit Card

PNB Kisan credit card is offered to all the Indian farmers in the form of a loan and hence, is extremely helpful to all those who are in dire need of some cash.

1. Funds are provided for short-term as well as long-term cultivation.
2. Purchase of goods for household consumption is also allowed.
3. The card can be used for purchase and execution of agricultural activities such as inland fishery, animal hosiery and other related activities.
4. It can also be used to fund one’s educational as well as financial requirements.

• The PNB Kisan Credit card applicant must mandatorily be a farmer (either tenant or possessor) and must have the rights to either cultivate or occupy the land.
• Oral tenants are eligible to taking loans under this scheme only in case they have been declared as co-borrowers of the loan.
• The card can be possessed by share croppers, tenants, oral tenants or farmers with no lands with a maximum credit limit of ₹ 50,000.

• The card can be applied for through any of the PNB branches under the PNB KCC loan scheme. However, the applicant must make sure to fulfill all the terms and conditions as laid down by the bank.
• The PNB Kisan Credit card can be alternatively applied for by the applicant by visiting the registered website of the bank. The applicant needs to log in to the bank’s website and fill up the online form available at the site. All the necessary formalities need to be completed by the applicant. On completion of the application process, an acknowledgement slip will be then sent to the applicant at the registered Email ID.

• The bank levies an interest rate of 7% on all loans against PNB credit card and all loans up to ₹ 3 lakhs on regular crop loans.
• The base rate charged by the bank is set at 9.6 percent. The interest rate is charged at base rate plus 2% on loans amounting to ₹ 20 Lakhs or less. All loans lying between the ranges of ₹ 3 Lakhs to ₹ 20 Lakhs are charged on the basis of above mentioned interest rate.

The bank levies certain charges on the PNB Kisan Credit Card, the details of which are given below:

• The bank does not levy any kind of service charge or fees for loans amounting to ₹ 3 Lakhs or less.
• However, for loans amounting to more than ₹ 5 Lakhs and up to ₹ 25 Lakhs, an upfront fee of 0.6% plus the service tax is charged on the total loan amount.