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Indian Bank has introduced a Kisan credit card loan scheme for fishermen in Tamil Nadu. Under this scheme, Kisan credit card loans of up to ₹2 lakh as working capital with low-interest rate will be provided, according to a statement.
Fishermen can submit the application through the Department of Fisheries, along with details of the mechanised boat.
The features of the scheme include the availability of revolving credit up to ₹2 lakh, 7 per cent interest rate, interest subvention of 3 per cent for those who repay the loan within a period of one year. The loan can be renewed once in a year. . There is no restriction on the number of credit and debit transactions.
This loan will be provided under Mudra scheme. Borrowers will get Rupay Kisan Credit Card and beneficiaries can use the card to withdraw money from ATMs, BC (banking correspondent) points, and also make purchase through merchant POS.
Interested people can approach the nearest Indian Bank branch or Tamil Nadu Fisheries Department for loan requirements.
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