Mahabank Kisan Credit Card (MKCC)

Particulars	Details
Type of Facility	Cash Credit (MKCC)
Purpose	Working capital for: Cultivation of crops Post harvest Expenses. Consumption requirements of farmer household Maintenance of farm equipments Working capital for allied agricultural activities
Eligibility	Working capital for: All farmers- Individual / Joint landholders Tenant Farmers, Share Croppers, Oral Lessees SHG's/JLG's of farmers
Limit	Limit for first year - Scale of finance of crop ( as decided by DLTC * Extent of area cultivated + 10% of limit towards post-harvest / household / consumption requirements + 20% of limit towards repairs and maintenance expenses of farm assets. From 2nd year onwards plus 10 % of the limit towards cost escalation / increase in scale of finance for every successive year { 2nd,3rd ,4th and 5th year}
Drawing Power	Drawing limit (D.P.) for each year as worked out as above
Margin	Up to Rs.2.00 Lakh – NIL Above Rs.2.00 Lakh-15% to 20% (depending upon purpose and Quantum of Loans)
Rate of Interest	Presently as per Govt. of India guidelines : Limit up to Rs3.00 lakhs: @7% p.a. (fixed) under interest subvention scheme up to one year Limit above Rs 3.00 lakhs: Rs.3.00 Lakh to Rs.10.00 lakh : 1 Year MCLR + BSS@0.50% + 2.00% Above Rs.10.00 lakh : 1 Year MCLR +BSS@0.50%+ 3.00%
Security	Limit Up to Rs 2.00 lakh :1)Hypothecation of Crops Limit Above Rs 2.00 lakh:1) Hypothecation of Crops & 2)Third Party Guarantee/Mortgage of Land
Repayment	Kharif- Next March Rabi- Next June Horticultural crops- Next September
Validity / Renewal	The KCC limit is valid for 5 years subject to annual review.
Other Terms Conditions	Insurance for notified crops is available as per Government guidelines from time to time.
Paper requirement	1.Loan application ie Form No -138, Enclosure – B2 All 7/12, 8 A, 6 D extracts, Chatu Sima of the applicant No dues certificates of the applicant from surrounding financial institutions including PACS Legal search from advocate on Bank’s panel for loans above Rs.1.60 lakh where land is to be mortgaged 2. Guarantee form F-138 All 7/12, 8 A & PACS dues certificate of the guarantors

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Frequently Asked Questions

1. What is the Kisan Credit Card (MKCC)?

The Mahabank Kisan Credit Card (MKCC) is a short-term credit facility offered by Bank of Maharashtra to meet agricultural working capital needs—such as crop cultivation, post-harvest expenses, household requirements, farm equipment maintenance, and allied agri-activities.

2. Who can apply for a Kisan Credit Card under this scheme?

Eligible applicants include:
• Individual or joint farmers and landholders
• Tenant farmers, sharecroppers, oral lessees
• Self Help Groups (SHGs) and Joint Liability Groups (JLGs) of farmers

3. What expenses can the KCC be used for?

The loan can be utilized for:
• Cultivation of crops
• Post-harvest operations
• Consumption needs of farmer households
• Maintenance of farm machinery
• Working capital for allied agricultural activities like dairying, poultry, and fisheries (where applicable)

4. How is the credit limit determined?

For the first year, the limit is based on the scale of finance for crops plus:
• 10% for post-harvest or household expenses
• 20% for repair and maintenance of farm assets
From the second year onward, the limit may increase by 10% yearly to cover cost escalation.

5. What is the interest rate on the Kisan Credit Card?

The interest rate depends on the loan amount:
• Up to ₹3 lakh – fixed at 7% p.a. under the Government’s interest subvention scheme (generally for one year)
• Above ₹3 lakh – charged as per agricultural advance rates (MCLR + applicable spreads)

6. What security is required for the MKCC loan?

Security requirements vary by loan size:
• Up to ₹2 lakh – hypothecation of crops
• Above ₹2 lakh – hypothecation of crops plus third-party guarantee or mortgage of land/assets as required by the bank.

7. How is repayment structured?

• For Kharif crops – repayment by next March
• For Rabi crops – repayment by next June
• For horticultural crops – repayment by next September.

8. How long is the KCC valid?

The Kisan Credit Card is typically valid for five years, subject to annual review and renewal by the bank.

9. Are there any additional benefits with the KCC?

Benefits may include Government-mandated interest subvention schemes and prompt repayment incentives where applicable, as per prevailing policy.

10. What documents are required to apply?

Applicants generally need to submit:
• Duly filled loan application form
• Land ownership/lease documents (e.g., 7/12, 8A, 6D extracts)
• No-dues certificate from other financial institutions
• Documents of guarantors (if applicable)
• Other documents as mandated by the bank.

11. How do I apply for the Kisan Credit Card?

You can apply by visiting your nearest Bank of Maharashtra branch with relevant documents or follow the bank’s online procedure (if available).

12. Can allied agricultural activities like animal husbandry and fisheries also use MKCC?

Yes. MKCC can be extended to meet working capital needs of animal husbandry, fisheries, poultry, etc., where the applicant meets eligibility criteria for those allied activities.