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Indus Kisan

Overview

Empowering the farmers to take timely and sound financial decisions, IndusInd Bank presents Indus Kisan- a Direct Agri Funding Product for the smart farmer. This product will enable farmers to acquire short-term and long-term credit through single window system for agricultural and allied activities. The loans obtained through this product would be secured and would be extended on basis of agriculture land holding and investment needs.

Features & Benefits

The product has 2 broad categories with sub variants:

Agricultural Activities

  • Crop Loan/ Production Loan-To meet working capital requirement for crop cultivation
  • Investment Loan- To meet long term needs for agricultural equipments like pump sets, sprayers, etc.

Agri-Allied Activities like- Dairy, Fishries, Poultry etc

  • Agri-Allied Over Draft- To meet working capital requirement for agri-allied activities
  • Agri-Allied Term Loan- To meet long term investment needs for agri-allied activities

A RuPay enabled Kisan Card will be issued to customer for withdrawing funds directly from their CC/OD account through any IndusInd Bnak or other Bank’s ATM. The card can also be used at input dealer shop. The daily cash withdrawal limit on the card is Rs 25,000 at ATMs and Rs 50,000 at POS outlets.

Eligibility

  • Any Resident Indian who is major in age group of 18-70 years
  • The applicant must be engaged in agricultural or agri-allied activity.
  • In case the main applicant is more than 70 years of age, then co-borrower is mandatory
  • The borrower(s) or guarantor should not have been reported as ‘Defaulter’ as per the CIBIL report/RBI Defaulter List.
  • Radius of operation-50 Kms from the designated branch to borrower’s residence.
  • Indus Kisan is available at Select IndusInd Bank Branches of Punjab, Haryana, Rajasthan, Himachal Pradesh, Madhya Pradesh, Gujarat & Maharashtra at present.

How to Apply

Please visit the nearest designated branch. Our Relationship Manager - Agribusiness will guide you.

To view the list of cities where you can avail Indus Kisan Click here

FAQs

Why take Indus Kisan?

We believe in simplifying processes to provide a convenient and hassle free banking experience. We maintain banking standards that instill trust and faith in all those who bank with us.

Reason to bank on us:

  • Speedy approval and disbursement
  • No hidden charges
  • Bundled saving bank account for term loan portion and linked debit card for withdrawal
  • Free cash deposit ad free cash withdrawal from any IndusInd branch
  • No prepayment penalty
  • Attractive interest rates
How do I approach IndusInd Bank for Indus Kisan?

Simply walk into any of our designated branches, in the select cities where we offer Indus Kisan.

What are the charges?

Processing Fee- 1% of loan amount + Service Tax as applicable

Schedule of service charges - Please click here for schedule of charges

Annual Maintenance Charges - Rs. 800 plus applicable Service Tax per proposal annually for all CC/OD accounts during October

Penal Interest - 18% p.a. on overdue amount payable along with interest

CERSAI Charges - Rs. 550 plus service tax per non agri property for registering charge on CERSAI.

Prepayment Charges - Nil

Other Charges - All documentation charges including stamp duty, legal opinion charges, valuation charges and other incidental expenses will be borne by the customer at the actual.

What are the terms & conditions?

Please click here for terms & conditions.

Display of Information

Interest Rate Range of contracted loans for past quarter
Indus Kisan interest details for various categories of loans (CC & TL) – Q1 2016-17
Kisan Credit Card Upto Rs. 5 Lakhs More than Rs. 5 lakhs Upto Rs. 10 Lakhs More than Rs. 10 lakhs Upto Rs. 15 Lakhs More than Rs. 15 lakhs Upto Rs. 25 Lakhs Above Rs. 25 lakhs
Crop Loan (CC)
Minimum NA NA NA NA NA
Maximum NA NA NA NA NA
Mean NA NA NA NA NA
Production Loan (CC)
Minimum 11.75 11.00 11.40 11.95 10.85
Maximum 12.00 12.00 12.65 12.45 12.20
Mean 11.94 11.93 11.92 11.79 11.55
Investment Loan (TL)
Minimum NA NA 11.50 11.25 10.90
Maximum 14.70 14.00 14.00 12.95 11.45
Mean 13.70 11.91 12.23 11.76 11.04
Agri Allied OD (OD)
Minimum NA NA NA NA NA
Maximum NA NA NA NA NA
Mean NA NA NA NA NA
Agri Allied TL (TL)
Minimum 13.30 NA NA NA NA
Maximum 13.30 NA NA NA NA
Mean 13.30 NA NA NA NA
Total Fee & Charges applicable

Processing Fee - 1% of loan amount + Service Tax as applicable

Schedule of service charges - Please click here for schedule of charges.

Annual Maintenance Charges - Rs. 800 plus applicable Service Tax per proposal annually for all CC/OD accounts during October

Penal Interest - 18% p.a. on overdue amount payable along with interest

CERSAI Charges - Rs. 550 plus service tax per non agri property for registering charge on CERSAI.

Prepayment Charges - Nil

Other Charges - All documentation charges including stamp duty, legal opinion charges, valuation charges and other incidental expenses will be borne by the customer at the actual.

* Nil prepayment charges in case of loan closure after 3 years of loan disbursement.

Annual Percentage Rate (APR) details for various categories of loans
Annual Percentage Rate (APR) details for various categories of loans (CC & TL) during different tenor of loan
Kisan Credit Card 1 year 2 years 3 years 4 years 5 years
Crop Loan (CC) - Irrespective of loan amount (Fixed)
Interest Rate % 9.00 9.00 9.00 9.00 9.00
Processing Fee % 1.00 1.00 1.00 1.00 1.00
APR % 10.00 9.50 9.33 9.25 9.20
Production Loan (CC) - Irrespective of loan amount (Floating)
Interest Rate 11.60 11.60 11.60 11.60 11.60
Processing Fee 1.00 1.00 1.00 1.00 1.00
APR 12.60 12.10 11.93 11.85 11.80
Investment Loan (TL) - Irrespective of loan amount (Floating)
Interest Rate 13.60 13.60 13.60 13.60 13.60
Processing Fee 1.00 1.00 1.00 1.00 1.00
APR 14.60 14.10 13.93 13.85 13.80
Agri Allied OD (OD) - Irrespective of loan amount (Floating)
Interest Rate 12.60 12.60 12.60 12.60 12.60
Processing Fee 1.00 1.00 1.00 1.00 1.00
APR 13.60 13.10 12.93 12.85 12.80
Agri Allied TL (TL) - Irrespective of loan amount (Floating)
Interest Rate 13.60 13.60 13.60 13.60 13.60
Processing Fee 1.00 1.00 1.00 1.00 1.00
APR 14.60 14.10 13.93 13.85 13.80
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  • SAVINGS RATES

  • Daily balance upto 1 lac 4 %
  • Daily balance above 1 lac and upto 10 lac 5 %
  • Daily Balance above 10 lac 6 %
  • DEPOSIT RATES

  • 1 year to 1 year 2 months 7.15 %
  • Indus Tax Saver Scheme - 5 years (upto Rs 1.5 lacs) 7 %
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