KVB ODCON
KVB ODCON is overdraft limit for farmers to meet other household consumption needs of the farmers such as education of children, marriage expenses, hospitalization expenses etc., To avail this loan, you must be KCC borrower in our bank.
Features & benefits
- Linked to cash flow and income level.
- Annual documented other income (gross total income in ITR excluding agricultural income) is mandatory; salary payslip can be considered as applicable.
- Valid for 5 years, subject to annual review.
- Monthly interest application; interest should be serviced whenever applied.
Charges and Limits
| Age | Minimum – 21 years Maximum – 75 years at end of facility tenure. |
| Limit | Minimum – Rs. 5.00 lakhs Maximum – Rs. 100.00 lakhs (KCC facility is compulsory). |
| Margin | Nil |
| Processing Charges | 0.75% + applicable GST |
| Repayment | Interest application will be monthly and interest should be serviced whenever it is applied. |
| Eligibility | KCC borrowers (fresh/existing) – Individual/Joint owners; Tenant Farmer; Oral Lessees; Sharecroppers. Minimum land holding: 1.00 acre (no deviation below 1.00 acre). Maximum 3 applicants. Primary applicant must have KCC facility; co-applicants should be relatives (preferably family members). Note: Tenant farmers/Oral lessees should furnish satisfactory evidence of cultivation. |
Interest Rate
| Based on collateral nature | Based on collateral locations | ROI p.a.* |
|---|---|---|
| Residential building / Commercial building | Metro, Urban, Semi urban, | 1 Year MCLR + 1.50% |
| Vacant opened plots of residential/ commercial properties | Metro, Urban, Semi urban, | 1 Year MCLR + 1.25% |
| *Only approved vacant opened plots of residential/commercial properties | Rural | 1 Year MCLR + 1.25% |
*Rate of Interest will be changed from time to time as per bank’s policy.
