How Does The Kisan Credit Card Help Farmers?

There are a wide range of credit cards available in the market. But is there any credit card that can help the farmers of our society? Yes there is with Kotak Mahindra Bank Kisan Credit Card farmers can meet their short term working capital limit and extend the funding of agricultural input such as seeds, fertilizers, labour etc. The credit limit of your Kisan credit card is fixed based on the scale of finance (SOF) of your crops grown. Read the article and know more about the Kotak Mahindra Bank credit card for farmers and know how it reduces the burden.

Who is eligible for a Kisan Credit Card?

You can apply for the credit card from Kotak Mahindra Bank if you meet the following requirements.

  • Individuals or Joint borrowers who have their own agricultural land
  • Age is minimum18 years
  • And maximum age is 75 years
  • If you are 60 years old, then you need a co-borrower less than 60 years of age. 
  • Your co-borrower can be your legal heir or any family member

What documents do I need to submit?

Be ready to apply for the Kisan credit card with the following documents.

  • Duly filled Kisan credit card application form
  • Identity proof like Voter ID card, PAN card, Passport, Aadhaar card or Driving License
  • Address proof such as Voter ID card, Passport, Aadhaar card and Driving license
  • Land ownership papers
  • Records of crops grown per year with the previous year record report
  • 2 passport size photograph
  • Signature verification of applicant and the guarantor
  • Details of existing loans if any
  • Any other document the bank will require as per your credit profile. 

Fees & charges

For your Kisan credit card there are certain fees charged by Kotak Mahindra Bank which you can pay using the Kotak Mahindra Bank credit card payment methods, cash or cheque as well. Look at the following applicable fees on your Kisan credit card.

  • Pay a documentation charges of INR 5,000 + GST
  • Pay a processing fee for your Kisan credit card that is 2.00% of sanctioned credit limit
  • Pay a penalty of 3.00% on your Kotak Mahindra Bank credit card payment on your unpaid amount
  • For per dishonour of a cheque the bank charges INR 1000 
  • For the replacement of Post Dated Cheques (PDCs) INR 1000 
  • Foreclosure charge 3.00 % of the outstanding balance
  • Charges for CIBIL check INR 1000 
  • Credit Administration charges are 1.00 % of your sanctioned limit
  • Renewal processing fee is 1.00 % of the renewed limit

Supervision or Crop Verification charges for the Kisan Credit Cardis as follows.

Credit Limit (INR) Fee (INR)
Less than or equal to 10 lakh  

  • For limits > 10 Lacs to 25 Lacs- Rs./-
  • For limits >25 Lacs to 50 Lacs- Rs./-
  • For limits >50 Lacs- Rs./
Greater than 10 lakh to 25 lakh maximum 1250
Greater than 25 lakh to 50 lakh maximum 1500
Greater than 50 lakh 3000

The verification fee will be debited every 6 months from your Kotak credit card payment.


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