SBI Kisan credit card: Get loans up to Rs 3 lakh, know how to apply and required documents | Personal finance news
New Delhi: India’s largest public sector lender, State Bank of India, provides timely and adequate credit to farmers to cover their growing expenses through the SBI Kisan credit card.
It also addresses unforeseen farmer expenses and expenses related to ancillary activities through a simple procedure allowing borrowers to qualify for loans according to their needs. (Also Read: SBI OTP Based ATM Cash Withdrawal – How To Withdraw Money, Who Can Avail This Facility)
Here are the features and benefits of the SBI Kisan credit card
KCC will be like a revolving cash credit account
The credit balance of the account, if any, will fetch the interest rate of the savings bank
Duration: 5 years, with an annual increase of 10% of the limit each year subject to annual review
Interest subsidy: 3% interest subsidy for quick borrowers up to Rs. 3 lakh
Reimbursement: The reimbursement period according to the harvest period (short / long) and the marketing period of the harvest
Assignment of RuPay cards to all eligible KCC borrowers
Accident insurance of Rs. 1 lakh for Rupay card holders if the card is activated once every 45 days
Documents required for the SBI Kisan credit card
Address and proof of identity: Aadhaar card, PAN card, voter card, driver’s license, etc. (any of them)
Agricultural land documents
The applicant’s recent passport photo
Issuing banks may also request to submit a post-dated security check
SBI Kisan Credit Card Eligibility
All farmer-individuals / co-borrowers who are owner-growers
Farmer tenants, oral tenants, sharecroppers, etc.
SHG or joint responsibility groups of farmers, including sharecroppers, sharecroppers, etc.
SBI Kisan Credit Card Interest Rate
Up to Rs. 3.00 Lakh – 7%
Above Rs. 3.00 Lakh – As appropriate from time to time
How to apply for an SBI Kisan credit card
Download the SBI application form – https: //sbi.co.in/documents/14463/22577/application+form.pdf/24a2171c-9a …
Farmers can also visit SBI branch directly and request KCC application form
Fill in the required details and submit to the branch
The bank will review the review of the application, verify the applicant’s details and sanction the card
Insurance for the use of the SBI Kisan credit card
KCC borrowers under the age of 70 are covered by the Personal Accident Insurance Plan (PAIS)
Eligible crops are covered by Pradhan Mantri Fasal Bima Yojna (PMFBY)
Security for the use of the SBI Kisan credit card
Primary: mortgage of the harvest.
Guarantee: mortgage / charge on agricultural land (the guarantee guarantee is canceled for:
Limit KCC up to Rs. 1.60 lakh.
Under Tie-up: KCC limit up to Rs. 3 lakh
Key Features of KCC Exam Via YONO SBI:
Hassle-free KCC exam via YONO app or at YONO branch
Contactless and paperless path for application via YONO App
End-to-end process on the YONO branch portal
Standardization of the KCC review process
Minimum data entry by farmer and branch
How to review KCC via YONO
Connect to YONO SBI
Click on YONO Krishi
Click on Khata
Click on Kisan Credit Card
All you need to do is:
Confirm personal data
Confirm land details
Confirm culture details
Submit a request
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