COVID-19 Mahabank Kisan Rahat Yojana
To meet the emergency requirements for Agriculture and Domestic purposes for tiding over temporary difficulties in the wake of COVID-19 outbreak.
Scheme is valid upto 30.06.2020
Individual farmer / joint borrowers enjoying Kisan Credit Card (KCC) limit / Term Loan facility with us having satisfactory track record, existing account should be in Standard category
Type of Loan
The borrower can avail the sanctioned amount in one go or in trenches.
Quantum of Loan & Ceiling
|Security||Existing security / ies obtained for KCC/ Term Loan to be continued. No additional securities to be obtained even if the combined exposure (KCC/ Term Loan plus proposed Yojana) exceeds the present cut-off ceiling of Rs.1.60 lakh.|
|Moratorium period||6 month|
|Repayment period||2 years (excluding moratorium) in half yearly / annual installments coinciding to the harvest of the crop.|
The loan is to be cleared in full if a fresh / enhanced limit is sought in the subsequent year based on revised KCC limit
|Guarantee||Existing personal guarantee ,if may be extended for the proposed facility|
|Rate of Interest|
|Penal Interest||No penal interest.|
|Processing Charges & other charges||NIL ( to be waived off)|