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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:

  1. Processing Fee and other service charges shall not be applicable for total exposure at borrower level up to Rs. 3 Lakh

  2. 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