Vijaya Bank Kisan Credit Card

• Short Term Credit: Short-term credit provides liquidity to the farmers to meet the expenses involved during the production of the crop.
• Post-Harvest Credit: A lot of expenses are involved post the cultivation of the crop. These expenses are known as post-harvest cost and it includes marketing cost of the crops, the maintenance cost of the farm assets like machinery and all other expenses involved in running allied activities. Fisheries, dairy animals, poultry etc are all part of the allied activities. Farmers can also pay insurance premium by using the card.
• Consumption Need: The farmer can use this credit card for his personal expenses also which involves the household cost among others.
• Investment Credit: Agriculture and other related activities involve various equipment like pump sets, dairy animals, sprayers etc which are beneficial in the long run. The card can be used for the purchase of these products.

• Vijaya Bank Kisan credit card is valid for five years subject to the annual renewal of the card.
• No documentation is required once the card is issued.
• The card meets all the requirement of the farmers from crop harvesting to post harvesting cost, term loan for future use, expenses involved in maintaining farm assets. All these are covered under the single window. The card provides a lot of flexibility to the farmers.
• The farmers have the flexibility to withdraw from the ATMs using the additional Rupay card which is provided along with the credit card. This card can also be used at any merchant outlet who accepts Rupay.
• The credit limit of the card is increased by 10% annually keeping inflation in mind that is the increase in the cost of production.
• A personal accident cover is also provided to the farmer along with the card. Under Rashtriya Krishi Bima Yojana, the farmers can also avail crop insurance in some notified areas.
• The interest rate charged on this card is very low and also government offers interest subventions from time to time.

All farmers/ Oral lessees/ tenant farmers/JLG of farmers/SHG/Companies/HUFs/Partnership firms who are involved in agriculture or related activities are eligible for the card. The only criterion that they need to fulfil is that they should not be on the defaulter list of any other bank or financial institution.

The following factors play major roles in determining the credit limit on Vijaya Bank Kisan Credit Card:

• District Technical Committee fixes the scale of finance. Depending on the pattern of the agriculture and the fixed scale, the quantum of finance is decided by the bank.
• All the expenses involved in post-harvest, consumption, maintenance of farm machinery, etc. are computed before deciding the finance for the farmer.
• Cost of investment also plays a vital role in deciding the quantum of finance.

Thus, farmers can avail this card for their cultivation and other financial needs.