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Farmer Finance / Agriculture Loan/ Krishi Loan
ICICI Bank offers a range of agriculture loans. You can use our overdraft facility to meet the cost of cultivation and working capital activities for farming and allied activities. We also offer term loans for buying cattle, purchase of equipment for irrigation and other agricultural requirements.
Visit our nearest branch and get an agriculture loan.
You can also approach us through an agribusiness co-operative, to which you supply your produce such as sugarcane, dairy products etc.
ICICI Bank Kisan Credit Card comes with a host of benefits, some of which are:
- Convenient banking: You need not to compromise with your day to day work while banking with us. Experience the new age banking with ICICI Bank through large branch & ATM network with 24*7 customer care support
- Wide network: ICICI Bank Kisan Credit Card can be used at any bank’s ATM apart from ICICI Bank’s large coverage of 10,000+ ATMs across the country
- Card limit: The Kisan Credit Card limit is sanctioned for 5 years with one time documentation and shall be reviewed every year based on your farming requirements
Following are the basic requirements to avail Kisan Credit Card from ICICI Bank:
- The applicant should be in the age group of 18-70 years
- Owns a piece of agricultural land
- Engaged in agricultural or Allied Agricultural Activities
You need to submit the following documents while availing the loan:
- Simplified application form
- KYC Documents
- Land documents
- Security PDC
- Any other document, as per sanction condition
Interest charges for Farmer Loans
| Product | Maximum | Minimum | Mean |
|---|---|---|---|
| Farmer Finance Retail | 15.50% | 10.10% | 12.86% |
Notes:
1.) The range of interest rate provided is with respect to individual loans disbursed between
October 01, 2024 to December 31, 2024.
2.) Mean rate - Sum of rate of all loans/number of loan accounts.
3.) The rate of interest is dependent on credit assessment parameters of the bank.
4.) Data excludes lending done under the crop loan subvention schemes of the government.
Description of Charges |
Facility Type |
Charges / Fee Amount** |
Service Charges |
||
Processing Fees |
KCC, Kisan Pragati, KCC-AH and fisheries, Nursery, KSOD |
up to 2% of sanction limit at the time of Fresh disbursement and renewal |
up to 0.50% of the new sanction limit in case of limit enhancement to existing customers |
||
No Processing Fee for Interest Subvention Cases |
||
FDL, ATL, KSDLOD |
up to 2% of sanction limit at the time of disbursement |
|
KCC (review) |
up to 0.50% of the sanction limit in case of review of KCC account with enhancement and up to 0.25% in case of review without enhancement |
|
Stamp Duty and other statutory charges |
KCC, Kisan Pragati, FDL, KCC-AH and fisheries, Nursery, KSOD, KSDLOD, ATL |
At actuals as per applicable laws of the State at the time of loan processing |
Legal Fees (All states except Madhya Pradesh) |
KCC, Kisan Pragati, FDL, KCC-AH and fisheries, Nursery, KSOD, KSDLOD, ATL | KCC Limit above ₹3 Lac - ₹10Lac - ₹ 2,500 |
KCC Limit above ₹10 Lac - ₹ 3,500 |
||
Legal Fees (Madhya Pradesh) |
KCC Limit above ₹3 Lac - ₹10Lac - ₹ 3,100 |
|
KCC Limit above ₹10 Lac - ₹ 4,100 |
||
Legal fees for all residential and commercial properties |
₹ 2500 for each residential or commercial property obtained as security |
|
Valuation Fees |
KCC, Kisan Pragati, FDL, KCC-AH and fisheries, Nursery, KSOD, KSDLOD, ATL |
₹ 2,500 per case for valuation of agricultural land |
₹ 2,500 per property for valuation of residential or commercial property |
||
Penal Charges |
||
Penal Charges |
KCC, Kisan Pragati, KCC-AH and fisheries, Nursery, KSOD, KSDLOD |
5% per annum on the overdue amount and/or overdrawn amount from due date till the date of actual payment |
ATL |
5% per annum will be charged on the overdue instalment |
|
FDL |
5% per annum will be charged on the unpaid interest and principal until repayment |
|
Bounce/Late Payment Charges |
||
Penal Charge for dishonour of Cheque/AD/ECS/NACH per transaction |
KCC |
₹ 500 + applicable tax per instance of bounce/ interest late payment |
ATL |
||
Prepayment (foreclosure) Charges |
KCC |
In case account closed within one year of account opening, 2% prepayment charges to be levied on the outstanding amount as on previous month end |
Agri Term Loan/Kisan Samriddhi Overdraft |
Nil |
|
*Glossary: KCC – Kisan Credit Card, KCC-AH – Kisan Credit Card – Animal Husbandry, FDL: Farm Development Loan, KSOD – Kisan Samridhi Overdraft, ATL – Agriculture Term Loan
Note:
Processing Fee and other service charges shall not be applicable for total exposure at borrower level up to Rs. 3 Lakh
Penal charges shall not be applicable if any of the limit sanctioned in KCC, Kisan Pragati, KCC-AH and fisheries, Nursery, FDL, KSOD is up to Rs. 25,000.
**Charges which are in nature of fees are Exclusive of GST.
GST and other government levies, as applicable, would be charged additionally.
Annual Percentage Rate:
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and processing fee.
To calculate the same, please click here to download the APR calculator.
Grievance redressal mechanism:
ICICI Bank follows a three-level grievance redressal mechanism.
Call us on our toll-free number 1800 200 3344 between 9.00 a.m. to 06.00 p.m.
OR
Raise a complaint through the below link: https://nli.icicibank.com/NewRetailWeb/loadGrievanceFormOne.htm
In the event of a change in your address, on account of relocation or any other reason, you should intimate the bank within 2 weeks of such a change. Any such intimation/request for change in address should be accompanied with a valid address proof.
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