Purpose

Providing instant credit to existing KCC holders for meeting emergency requirement for agricultural purposes.

Eligibility

(a)Borrowers should be either individual or groups (not exceeding 4 farmers)

(b) Only existing KCC holders are eligible

(c) Sound track record of atleast two years is a pre requisite

Amount of Loan

Minimum Rs.1000/-

Maximum: 50% of KCC limit or 25% of Annual Income or Rs.50000/- whichever is less

Margin

Nil.

Security

Prime - Hypothecation of crops & assets created out of Bank loan.
Collateral-Existing security obtained for KCC will continue.

Rate of Interest

Varies from time to time. Presently

Upto Rs.10 lacs: One year MCLR+1%

Repayment

Within 3 years in half yearly/annual instalments.

For other details, please contact your nearest IOB branch.