Farmers Can Get Up to Rs. 12.5 Lakh Under Canara Bank Kisan Plan
Only farmers who have maintained a good repayment history under Kisan Credit Card loans during the last three years can apply.
In a move aimed at supporting farmers facing financial pressure, Canara Bank has rolled out its Canara Kisan OD scheme with attractive overdraft benefits. The scheme allows eligible farmers to access loans ranging from Rs. 1.50 lakh to Rs. 12.50 lakh based on land and property value.
The overdraft facility can be used for crop cultivation, dairy farming, poultry business, agricultural machinery maintenance, and other farm related expenses. Self Help Groups and Joint Liability Groups are also eligible under certain conditions.
Only farmers who have maintained a good repayment history under Kisan Credit Card loans during the last three years can apply. Bank officials said the scheme aims to reduce farmers’ dependence on private money lenders charging high interest rates.
Experts believe the new overdraft facility could provide timely relief for farmers requiring immediate working capital during crucial agricultural seasons.
