KVB Happy Kisan
The Happy Kisan Scheme provides finance for cultivation costs personal expenses to agriculturists who own land and are recommended for the loan by approved supply chain agents. It is a short term loan and the repayment amount is in a lump sum rather than in installments.
- Eligibility criteria: Farmers who own farm land and are recommended for the loan by approved Supply Chain agents
- Provision of short-term crop loans (for cultivation costs) including consumption and personal expenses of the farmer.
- Usable for all crops grown in the respective areas
|Charges and Limits|
|Per Borrower Limit||The Limit will be based on the land holding and crop cultivated and the approved scale of finance|
|Guarantee||Third party guarantee and guarantee of the respective Supply Chain Agent recommending the loan to the farmer|
|Rate of Interest||CONTACT NEARBY BY BRANCHES|
|Security||Primary security will be hypothecation of crops grown and to be grown|
|Collateral||For limits up to Rs.50,000/- no collateral is required.
For limits over Rs.50,000/- Equitable mortgage of agricultural land of the beneficiary
|Repayment Period||The repayment period should coincide with the harvesting and marketing period and it should be as a lump sum repayment along with interest. However, it should not exceed a maximum period of 15 months|
|SCHEME||ROI (floating) p.a.|
|KVB Happy Kisan Scheme
Up to Rs.50,000
Rs.50,001 to Rs.2.00 Lacs
|One-year MCLR + 0.35%
One-year MCLR + 1.35%