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.
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.