Revolving Cash Credit to Farmers(RCC)

Beneficiary Any individual farmer holding the agricultural land.
Purpose Credit facility for meeting out socio-economic needs.
Loan LimitLoan Limit Maximum amount Rs.15.00 Lac. Subject to Rs.2 Lac per acre
Rate of Interest 11.50%   
Margin No Margin required.
Repayment Period Renewable on annual basis
Collateral Security Agriculture Land valuing at 75% as fixed by district administration or Rs 2.00 lac per acre (which ever is higher) shall be taken .The land should be free from all encumbrances . 
Area of Operation Loan shall be advanced in the area operation in the Muktsar district.
Penal Rate 3% above normal ROI