Kisan Gold backed Farm Credit (IND KGFC) for Crop Cultivation
Features:
- Easy and hassle-free loan process.
- Convenient repayment schedules.
- Low interest rates
- Processing charges and Jewel appraiser charges apply.
- No hidden charges.
Purpose / Objective:
- To meet the short credit requirements for Crop cultivation, repayment of debt taken from non-financial institutional lenders etc.
Eligibility:
- Limit based on crop, extent & Scale of Finance (SOF) +30% of SOF towards post-harvest, household, consumption needs, repairs/maintenance of farm assets etc.
Security:
- Primary: Hypothecation of crop / stocks, book debts, assets created out of loan
- Collateral: Pledge of Gold with minimum collateral coverage of 120 %
Quantum of Loan:
- Max limit: ₹ 50 lakhs (Aggregate)
Repayment Period:
- Running limit. Subject to renewal on annual basis. Can be renewed on specific request of customer on payment of interest.
Rate of Interest:
- MCLR (1 Year) + Spread 0.10%
Documents Required:
- Duly filled in application form.
- Up to ₹2.5 lakh declaration and for above ₹2.5 lakhs loan Proof of agriculture land in the name of the applicant/family member or proof of cultivating the crop.
- Identity proof- Voter ID card / PAN card / Passport / Aadhaar card, /Driving License etc.
- Address proof: Voter ID card / Passport / Aadhaar card / Driving license etc.


