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  • Kisan Credit Card Interest Rate

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    Saurabh Mishra
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    Kisan Credit Card interest rates are linked to MCLR but the government offers interest subvention on some amounts, adjusting the rate accordingly. A 7% interest applies to loans up to 3 lakhs and banks receive a 1.5% subvention on this. Farmers repaying loans within a year qualify for an additional 3% subsidy on the interest rate. The document also lists interest rates for Kisan Credit Cards from various banks.

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    Kisan Credit Card interest rates are linked to MCLR but the government offers interest subvention on some amounts, adjusting the rate accordingly. A 7% interest applies to loans up to 3 lakhs and banks receive a 1.5% subvention on this. Farmers repaying loans within a year qualify for an additional 3% subsidy on the interest rate. The document also lists interest rates for Kisan Credit Cards from various banks.

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    4 views1 page

    Kisan Credit Card Interest Rate

    Uploaded by

    Saurabh Mishra
    Kisan Credit Card interest rates are linked to MCLR but the government offers interest subvention on some amounts, adjusting the rate accordingly. A 7% interest applies to loans up to 3 lakhs and banks receive a 1.5% subvention on this. Farmers repaying loans within a year qualify for an additional 3% subsidy on the interest rate. The document also lists interest rates for Kisan Credit Cards from various banks.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Kisan Credit Card Interest Rate

    KCC interest rates are MCLR-linked. However, to help farmers secure credit at a subsidized rate, the
    government may offer interest subvention on a certain part of the KCC limit. In such cases, the Kisan
    Credit Card interest rate will be adjusted accordingly. A 7% interest is applicable on short-term KCC loans
    up to 3 Lakhs. Lending institutions are liable to receive a 1.5% interest subversion on the same.
    Additionally, farmers repaying the loan amount within a year’s duration will qualify for an additional 3%
    subsidy on the KCC interest rate.

    Bank Kisan Credit Card Loan Interest Rate

    State Bank of India Min 7% per annum

    Punjab National Bank Min 7% per annum

    Axis Bank 8.85% per annum (interest subvention provided)

    HDFC Bank Min 9% per annum

    Indian Overseas Bank 7% per annum (interest subvention provided)

    UCO Bank 7% per annum (interest subvention provided)

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