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Last Updated on 22/02/2018
Agri General Purpose Credit Card

Agri General Purpose Credit Card

Objective

To provide liquidity to meet any financial needs relating to Agricultural Investments or Consumption.

Eligibility

Customers in rural and semi-urban areas, members of Self Help Groups and Joint Liability Groups 

Purpose

For any genuine purpose 

Amount

Maximum limit Rs.1 Lakh 

Margin

Margin up to Rs. 50,000/ -- Nil

Above Rs.50, 000/- -- 10 to 15 %.  

Security

Nil 

Repayment

The GCC is valid for Three Years subject to an annual review.

Holiday Period

NA 

Rate of Interest

Varies from Time to time. Presently one year MCLR+1.40%.

Remarks

  • It is based on assessment of cash flow. 
  • It is a Cash Credit.
  • No card issued & no Cheque book or Pass book issued & withdrawal by loose cheque.
  • Women given preference

For other details, please contact your nearest IOB branch.