The Axis Bank Kisan Credit Card Program intends to deliver a gateway for the farming group through which they can access funds easily and satisfy their farming as well as personal needs with Axis Bank Kisan Credit Card. By carrying a Kisan Credit Card a farmer doesn't need to borrow funds from an unorganized sector with high-interest rates to fulfil his / her agricultural goals.
Below we have covered the multiple benefits along with easy application process comes with Axis Bank Kisan Credit Card.
- Under this scheme, one is eligible to borrow a loan up to Rs.250 Lakhs. One can use this loan amount across multiple needs such as purchasing farming equipment, seeds, maintenance of machinery goods, and personal needs.
- The cardholder is provided with the convenience of opting between cash and term loans. The terms of repayment are highly intuitive.
- The loan tenure is determined by Axis Bank after taking into account the post-harvest marketing term of the crop. This is also a convenient framework for the extension of the tenure of loans. The loan tenure is up to 1 year for a cash credit and up to 7 years for term loans.
- On availing Axis Bank Kisan Credit Card each cardholder will be issued with a dedicated relationship manager
- The application process for Axis Bank Credit Card is quick and convenient
- Farmers will get complimentary accident cover up to Rs.50,000
Before applying for Axis Bank Credit Card one must meet the below-mentioned eligibility criteria.
- Applicant must have a minimum age limit of 18 years up to a maximum of 75 years old at the end of the loan's tenure.
- Applicants above the age of 60 must entail a co-borrower that is below the age cap. The co-borrower will either be a family member or a legitimate holder.
- Joint holding is also allowed up to 5 people under the scheme
3. Interest rate
The interest rate listed below is applicable to Axis Bank Kisan Credit Cardholders
- For production credit type: Minimum interest rate is 8.85% up to 13.10% with a mean interest rate of 12.70%
- For investment credit type: Minimum interest rate is 8.85% up to 14.10% with a mean interest rate of 13.30%
4. Application process
One can apply for Axis Bank Credit Card online by following the below-mentioned steps:
- Visit the official site of Axis Bank and go to 'Agri and Rural' > 'Loans' > 'Kisan Credit Card'
- Now click on ' Apply Now' and enter your: Name, Address, City, Pin Code, Email, State, Nearest Branch and Mobile Number.
- After submitting the required details enter the captcha code on the required field and click on 'SUBMIT'