Overview
IndusInd Bankās Indus Kisan is a direct agri-funding product for progressive Indian farmers. Indus Kisan enables farmers involved in agricultural and allied activities to meet their short-term and long-term credit requirement through a single window system.
Why take Indus Kisan?
We provide a convenient and hassle free banking experience thereby instilling trust and faith in all our customers.
Reason to bank on us
- Crop Loan: To meet working capital requirement for agri and agri-allied activities.
- Investment Loan: To meet long term needs for investments needs of agri and agri-allied activities.
- Quick approval and disbursement
- No hidden charges
- Flexible repayment cycle based on crop harvest cycle
- Bundled savings bank account for all customers
- Attractive Interest rates
- Tenure of 5 Years
- Facility for availing Health/ Life Insurance
- Bundled savings account for all customers
- Issuance of RuPay Debit Card and Internet banking facility for a hassle free banking experience
- Free Cash withdrawal and deposits at all IndusInd Bank branches
- Crop Insurance facility for all notified crops
How to Apply for Agriculture Loan?
Indus Kisan Facility is presently available at select branches of Maharashtra, Gujarat, Madhya Pradesh, Chhatisgarh, Punjab, Haryana, Rajasthan and Kerala. To know more kindly visit your nearest IndusInd Bank branch.
Information About Agriculture Loan
Indus Kisan interest details for various categories of loans (CC & TL) ā Q3 2023-24 | |||
---|---|---|---|
Facility type | Maximum | Minimum | Mean |
Production Loan (CC) | 13.25 | 7.00 | 10.80 |
Investment Loan (TL) | 13.75 | 9.00 | 9.76 |
Overdraft Loan (OD) | 14.00 | 9.00 | 11.07 |
Hi-Tech Agriculture (OD) | 13.75 | 8.90 | 10.63 |
*Loans offered basis Floating Rate of Interest effective since Sept'22 |
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Annual Percentage Rate for Q3 FY' 24 | ||||
---|---|---|---|---|
Products | APR | ROI | ||
Ā | Min. Rate | Max. Rate | Min. Rate | Max. Rate |
TL | 9.00% | 13.75% | 9.38% | 14.15% |
CC/OD | 8.70% | 15.73% | 7.00% | 14.00% |
Charges of Agri Loan
Documentation Fee for legal opinion will be charged as Sanction Terms and Conditions.
Processing Fee: -Ā Up to 2% of sanctioned amount. For all KCC/ Crop loans up to INR 3 lakhs to SMF farmers, Nil charges to be applicable
Penal Charge: -
- For Term Loans: 2% + GST per month on overdue amount along with interest OR INR 100+ GST, whichever is higher.
- For CC/OD loans: 24% p.a.+ GST on overdue amount payable along with interest OR INR 100 + GST, whichever is higher.
CERSAI Charges: -Ā INR 100 + Applicable GST per non-agri property for charge registration
Prepayment Charges: - Nil*
Annual Maintenance Charges
Applicable for | Applicable Charges |
---|---|
Upto Rs. 10 lacs | Rs. 800 + ApplicableĀ GST |
>Rs. 10 lacs & <Rs. 25 lacs | Rs. 1500 + ApplicableĀ GST |
>Rs. 25 lacs & <Rs. 100 lacs | Rs. 2500 + ApplicableĀ GST |
>Rs. 100 lacs | Rs. 5000 + ApplicableĀ GST |
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Inspection Charges
Applicable for | Applicable Charges |
---|---|
Upto Rs. 10 lacs | Rs. 500 + ApplicableĀ GST |
>Rs. 10 lacs & <Rs. 25 lacs | Rs. 1000 + ApplicableĀ GST |
>Rs. 25 lacs | Rs. 1500 + ApplicableĀ GST |
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Partial release of security / replacement of security
Applicable for | Applicable Charges |
---|---|
Upto Rs. 10 lacs | Rs. 1000 + ApplicableĀ GST |
>Rs. 10 lacs & <Rs. 25 lacs | Rs. 2500 + ApplicableĀ GST |
>Rs. 25 lacs | Rs. 5000 + ApplicableĀ GST |
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Change in Sanctioned T&Cs post disbursement
Applicable for | Applicable Charges |
---|---|
Upto Rs. 10 lacs | Rs. 750 + ApplicableĀ GST |
>Rs. 10 lacs & <Rs. 25 lacs | Rs. 1500 + ApplicableĀ GST |
>Rs. 25 lacs | Rs. 2500 + ApplicableĀ GST |
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Foreclosure charges/Prepayment charges*
Applicable for | Applicable Charges |
---|---|
All Retail Agri customers | Up to 4% of total sanction limit + applicable GST, if closed within 3 years from 1stāÆdisbursement date.āÆ |
*NIL Foreclosure/prepayment charges in case of loan closure after 3 years of loan disbursement
Commitment Charges**
Applicable for | Applicable Charges |
---|---|
For all progressive farmers | 2% of sanction limit + applicable GST |
*Nil Foreclosure/ prepayment charges in case of loan closure after 3 years of loan disbursement
**Minimum churning requirement in allĀ progressive farmersĀ shall be 70%
Other Charges - including stamp duty, valuation charges and other incidental expenses will be borne by the customer at actuals.
Eligibility Criteria of Agri Loan
- Any Indian Farmer within age group of 18-70 years
- The borrower(s) must be engaged in agriculture or agri-allied activities
- The borrower(s) or guarantor should not have been reported as āDefaulterā as per the CIBIL report/RBI Defaulter List.
IndusInd Bank Other Loan Product
Terms and Conditions apply. All Loans at the sole discretion of IndusInd Bank Ltd.
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