Interest charges for Farmer Loans
Product | Minimum | Maximum | Mean |
Kisan Credit Card |
9.00% |
13.60% |
12.00% |
Premium Overdraft |
7.00% |
15.40% |
10.42% |
Agri Term Loan |
8.50% |
18.00% |
12.48% |
Notes:
- The range of interest rate provided is with respect to individual loans disbursed between January 1, 2022 to March 31, 2022.
- 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** |
Service Charges |
Processing Fees |
Kisan Credit Card |
Up to 2% of initial sanction at the time of disbursement and renewal |
Processing Fee charges for Interest Subvention Cases will be 1.50% |
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 |
Stamp Duty and other statutory charges |
All |
At actuals as per applicable laws of the State at the time of loan processing |
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 |
Legal fees for all residential and commercial properties |
|
₹ 2500 for each residential or commercial property obtained as security |
Valuation Fees |
|
₹ 2500 per case for cases where valuation of residential or commercial property is done |
Switch from existing Benchmark Rate to external Benchmark rate |
|
Administrative switchover fee of ₹ 1,000 plus taxes shall be charged. |
Penal Interest |
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 |
|
|
Note - For loans up to Rs 25,000/- nil penal interest to be recovered for delayed payment |
Penal Charges |
Overdue Charges (31 DPD to 90 DPD) |
Kisan Credit Card |
₹ 500 on non-repayment of interest post 30 days after interest debit. |
Overdue Charges (90+ DPD) |
Kisan Credit Card |
₹ 1000 on non-repayment of interest post 90 days after interest debit. |
Overdue Charges (180+ DPD) |
Kisan Credit Card |
₹ 1000 on non-repayment of interest post 180 days after interest debit. |
Foreclosure Charges* |
Kisan Credit Card |
4% on Sanction limit for account closed within one year of account opening |
Agri Term Loan |
Nil |
Bounce/Late Payment Charges |
|
₹ 500 per per bounce or Late-repayment of interest on due date |
*#DPD : Days Past Dues
Charges and Penal Interest would not be levied on loans amounting up to Rs 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.