If you’re a farmer looking to make smart investments, you can certainly benefit from having your own credit card. Bandhan Bank offers a promising selection of loans and credit cards designed to help your everyday needs be met. If you are working in the agricultural sector and want to access working capital, look no further. The Bandhan Bank Kisan Credit Card is here to help. Read on to learn how to apply for a Bandhan Bank credit card…
Bandhan Bank Credit Card Features and Benefits
If you’re an individual who belongs to a joint liability group, self-help group or if your livelihood revolves around farming, you will certainly appreciate the advantages the Bandhan Bank Credit Card offers. Let’s take a closer look at the features and benefits of the Kisan Credit Card…
Farmers who need to gain access to sufficient credit or a big source of funding can rely on this credit card. Through the Kisan Credit Card Loan, you can get a term loan or a working capital loan that can help you pay for your farming and other ancillary activities. Even better, you can pay these off in set increments of 60 installments. Now, how’s that for a flexible payment scheme?
Another exclusive perk you can experience with this credit card is an interest-free period of up to 50 days. With this offering, you won’t have to worry about paying extra fees if you pay your installments on time, thereby ensuring maximum savings.
Now, find out how you can apply for this credit card…
Applying for a Bandhan Bank Credit Card
Applying for your own Bandhan Bank Kisan Credit Card is easy. All you need to do is fill out the application form found on Bandhan Bank’s website. After submitting the initial form, bank executives will get in touch with you to know more about your personal and professional details.
To apply, you must be between the ages of 23 and 60 years old at the time of loan maturity. You must also have good credit standing and a steady stream of income to be eligible.
Other documents you will need to prepare when applying for the credit card include:
- KYC documents
- Two photographs
- Duly filled account opening form
- Details about land holdings (if applicable).
In addition, you also need to present proof of billing, valid ID, and your proof of income.
If approved, the bank will determine your credit limit based on your financial standing. The maximum loan amount offered with the Kisan Credit Card is Rs. 3.0 Lacs.
Bandhan Bank Credit Card Fees and Charges
The annual membership fee varies depending on the plan and scheme availed. To know more, feel free to contact Bandhan Bank today.
For the Kisan Credit Card Loan, there is an interest rate ranging from 12.35% per annum to 17.28% per annum with reference to MCLR.
There is also a late payment charge of 2% per month for outstanding EMI.
There are also renewal charges on an annual basis which amount to Rs. 1,000/-.
Conclusion
Overall, a Bandhan Bank Kisan Credit Card is a great credit card to have and a huge help, particularly if you are interested in alleviating the daily costs of running your farm and improving your cash flow. Get yours today!
