Interest charges for Farmer Loans
| Product | Minimum | Maximum | Mean |
|---|
| Kisan Credit Card |
8.70% |
13.60% |
12.62% |
| Premium Overdraft |
8.75% |
14.00% |
10.80% |
| Agri Term Loan |
9.50% |
15.10% |
11.83% |
Notes:
- The range of interest rate provided is with respect to individual loans disbursed between October 1, 2020 to December 31, 2020.
- Mean rate - Sum of rate of all loans/number of loan accounts.
- The rate of interest is dependent on credit assessment parameters of the bank.
- Data excludes lending done under the crop loan subvention schemes of the government.
Schedule of charges
| Description of Charges | Facility Type | Charges / Fee Amount** |
|---|
| Foreclosure Charges* |
Kisan Credit Card |
4% on Sanction limit for account closed within one year of account opening |
| Agri Term Loan |
Nil |
| Processing Fees |
Kisan Credit Card |
Up to 2% of initial sanction at the time of disbursement and renewal |
| Up to 0.50% of the sanction limit at the time of review with enhancement or upto 0.25% of the sanction limit at the time of review without enhancement of the account |
| Agri Term Loan |
Up to 2% of sanction limit at the time of disbursement |
| Premium Funding Overdraft |
Up to 2% of sanction limit at the time of disbursement and renewal |
| Penal Interest |
Kisan Credit Card |
2% per month on overdue amount at the time of loan regularization |
| Agri Term Loan |
2% per month on overdue amount at the time of loan regularization |
| Premium Funding Overdraft |
2% per month on overdue amount at the time of loan regularization |
| Stamp Duty and other statutory charges |
All |
At actuals as per applicable laws of the State at the time of loan processing |
| Bounce/Late Payment Charges |
|
₹ 500 per per bounce or Late-repayment of interest on due date |
| Legal Fees (All states except Madhya Pradesh) |
|
KCC Limit upto ₹3 Lac - ₹ 1,750 |
| KCC Limit above ₹3 Lac - ₹10Lac - ₹ 2,500 |
| KCC Limit above ₹10 Lac - ₹ 3,500 |
| Legal Fees (Madhya Pradesh) |
|
KCC Limit upto ₹3 Lac - ₹ 2,350 |
| KCC Limit above ₹3 Lac - ₹10Lac - ₹ 3,100 |
| KCC Limit above ₹10 Lac - ₹ 4,100 |
| Valuation Fees |
|
₹ 2000 per case for cases where valuation of residential or commercial property is done |
| Overdue Charges (31 DPD to 90 DPD#) |
New and old customers |
₹ 500 on non-repayment of interest post 30 days after interest debit. |
| Overdue Charges (90+ DPD#) |
New and old customers |
₹ 1000 on non-repayment of interest post 90 days after interest debit. |
| Overdue Charges (180+ DPD#) |
New and old customers |
₹ 1000 on non-repayment of interest post 180 days after interest debit. |
| Cash transaction charge for repayment of EMI dues at Branches |
|
₹ 100 |
*#DPD : Days Past Dues
Charges and Penal Interest would not be levied on loans amounting up to ₹25,000 for Agricultural purpose.
**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.
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