Check Kisan Gold Card annual charges
| Description of Charges | Facility Type | Loan amount | Charges/ Fee Amount | Frequency of charging |
|---|---|---|---|---|
| Supervision Charges | KGC CC (Other than allied and other cases) |
<= ₹3 lakh | ₹250 | Half Yearly |
| >₹3 lakh - 10 lakh | ₹750 | |||
| >₹10 lakh- ₹25 lakh | ₹1,250 | |||
| >₹25 lakh- ₹50 lakh | ₹1,500 | |||
| > ₹50 lakh | ₹3,000 | |||
| Allied activities & other | <= ₹3 lakh | ₹250 | Quarterly | |
| >₹3 lakh - 10 lakh | ₹1,000 | |||
| >₹10 lakh- ₹25 lakh | ₹2,000 | |||
| > ₹25 lakh to ₹50 lakh | ₹2500 | |||
| > ₹50 lakh | ₹3,000 |
*For cases under pisciculture, supervision charges shall apply annually.
| Processing Fee | Regular KGC | All | 2.00% | Loan Processing & at the time of enhancement |
| KGC Saral | All | ₹2,500 | ||
| Foreclosure Charges* | KGC TL | Applicable for Fixed Rate TL Only | 4% of outstanding amount | At the time of loan closure |
| KGC CC | All | 4% | At the time of loan closure | |
| Penal charges - default in payment |
All | All | 2% Per month | At the time of loan regularisation |
| Penal charges - non-compliance of any terms and conditions of the transaction documents or any other credit covenants and discrepancy in collateral security if any. |
All | All | 0.167% per month | At the time of loan regularisation |
| Stamp duty & other statutory charges | All | All | At actuals as per applicable laws of the State | Loan Processing |
| Legal, valuation and vetting charges | All | All | At actuals | At the time of loan processing |
| Cheque bounce charges* | All | All | ₹550 | At the instant |
| Cheque swapping charges | All | All | ₹500 | Per transaction |
| CIBIL Report Copy Charges | All | All | ₹50 | Per request |
| Repayment Schedule Charges | All | All | ₹200 | Per request |
| *Charges which are in the nature of fees are exclusive of service tax. Service tax and other government levies, as applicable, would be charged additionally. |
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Average Annual Percentage Rate offered to customer during the period of Jan-24 to Mar-24
| Product | IRR | APR | ||||
|---|---|---|---|---|---|---|
| Min | Max | Avg | Min | Max | Avg | |
| Retail Agri | 8.40% | 18.95% | 10.99% | 8.40% | 19.02% | 10.99% |
| The above information is exclusive of accounts under government schemes. | ||||||
The processing fees for the Kisan Gold Card (KGC) vary based on the type of facility. For Regular KGC, the processing fee is 2.00% of the loan amount. However, for KGC Saral, a flat fee of ₹2,500 is applicable. Additionally, foreclosure charges apply for KGC Term Loan (TL) and KGC Cash Credit (CC), which are 4% of the outstanding amount. These charges are important to consider when applying for a Kisan Gold Card, as they can impact the overall cost of borrowing and should be factored into your financial planning.
For the period from January 2024 to March 2024, the Kisan Gold Card under the Retail Agri Loan scheme offers interest rates with an Internal Rate of Return (IRR) ranging from 8.40% to 18.95%, and an Annual Percentage Rate (APR) from 8.40% to 19.02%, with an average of 10.99%. Please note that these rates do not include accounts under government schemes.
The Kisan Gold Card offers several benefits to farmers. It provides Cash Credit/Overdraft facilities to cover crop production costs, post-harvest expenses, and repair and maintenance. Additionally, Term Loans are available for investments in land development, farm implements, and irrigation equipment. The amount of finance is determined by factors such as the land under cultivation, cropping pattern, and scale of finance. Security requirements include hypothecation of crops and assets created from bank finance, as well as collateral like agricultural or urban property. The tenure for the Kisan Gold Card is five years. Other benefits include free personal accidental insurance coverage for farmers, crop insurance under the Pradhan Mantri Fasal Bima Yojana, and issuance of a Rupay Farmer Platinum debit card for convenient transactions.