Bank of Maharashtra - Mahabank Kisan Credit Card (MKCC)

 Bank of Maharashtra - Mahabank Kisan Credit Card (MKCC)

Type of Facility

Cash Credit (MKCC)

Purpose

Working capital for:

 Cultivation of crops

 Post harvest Expenses.

 Consumption requirements of farmer household

 Maintenance of farm equipments

 Working capital for allied agricultural activities

Eligibility

 All farmers- Individual / Joint landholders

 Tenant Farmers, Share Croppers, Oral Lessees

 SHG's/JLG's of farmers

Limit :

Limit for first year - Scale of finance of crop ( as decided by DLTC * Extent of area cultivated + 10% of limit towards post-harvest / household / consumption requirements + 20% of limit towards repairs and maintenance expenses of farm assets. From 2nd year onwards plus 10 % of the limit towards cost escalation / increase in scale of finance for every successive year { 2nd,3rd ,4th and 5th year}

Drawing Power :

Drawing limit (D.P.) for each year as worked out as above

Margin :

NIL as margin is considered while fixing Scale of Finance

Rate of Interest :

 Limit up to Rs3.00 lakhs: @7% p.a. (fixed) under interest subvention scheme up to one year

 Limit above Rs3.00 lakhs: as applicable to Agricultural advances

Security :

 Limit Up to Rs 1 lakh :1)Hypothecation of Crops

 Limit Above Rs 1 lakh:1) Hypothecation of Crops &

2)Third Party Guarantee/Mortgage of Land

Repayment :

 Kharif- Next March

 Rabi- Next June

 Horticultural crops- Next September

Validity / Renewal :

The KCC limit is valid for 5 years subject to annual review.

Other Terms Conditions :

Insurance for notified crops is available as per Government guidelines from time to time.

Paper requirement :

1.Loan application ie Form No -138, Enclosure – B2

 All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant

 No dues certificates of the applicant from surrounding financial institutions including PACS

 Legal search from advocate on Bank’s panel for loans above Rs.1.00 lakh where land is to be mortgaged

2. Guarantee form F-138

 All 7/12, 8 A & PACS dues certificate of the guarantorstra offers various agriculture schemes for farmers, including: