SBI Kisan Credit Card

The Kisan Credit Card limit will also include any amount required for investments made on the farm like purchasing implements or equipment for crop production and the borrower has to repay this amount within one year. This investment portion will not have an annual review, but will be considered when the withdrawal limit is being set by the bank. The Maximum Permissible Limit (MPL) sanctioned on the Kisan Credit Card will be the short-term loan limit derived for the fifth year inclusive of the investment loan amount.

The Maximum Drawal Limit (MDL) sanctioned on the Kisan Credit Card will be the short term loan limit derived for the first year or a sum of the limit from the second to the fifth year including the investment loan amount. The credit under the Kisan Credit Card will be in the form of revolving credit and the balance in an account will get the holder interest as per Savings bank rates.

Types of SBI Kisan Credit Cards

Kisan Credit Card customers will receive a Debit Card/ATM card - State Bank Kisan Card, for making withdrawals from their KCC accounts at POS and ATM machines.

Processing Fees

State Bank of India will waive the processing fees for loans taken for an amount up to Rs. 3 lakhs.

Security

Security does not have to be given for credit limits up to Rs. 1 lakh and for limits up to Rs. 3 lakhs, if there is a tie-up arrangement made for recovering the loan.

Annual Renewal

Every Kisan credit card account has to be renewed every year before the due date to get the assigned credit limit. This renewal has to be done for the entire period of five years. The customer has to give a revival letter or a declaration to State Bank of India before the expiry date. When the renewal happens, the revision of the Maximum Drawal limit will be assessed according to the projected cropping pattern and the area confirmed by the borrower.

Insurance

State Bank of India will also provide crop insurance for all eligible crops as per the National Agricultural Insurance Scheme.

Loan Disbursement

The loan will be disbursed by SBI as cash, according to the cultivation needs of the crop grown.

Repayment

1. Repayments for single Kharif crop loans have to be done by 31^st January.
2. Repayments for single Rabi crop loans have to be done by 31^st July.
3. Repayments for multiple Rabi /Kharif/double crop loans have to be done within 31^st July.
4. Repayments for long-term crop loans can be done throughout the year, from the disbursement date.

Borrowers making repayments have to ensure that the amount is directed into their Kisan Credit Card accounts. The amount that has to repaid should be the minimum loan amount with interest and other applicable charges, before the due date.

Farmers wishing to apply for the Kisan Credit Card can easily do so by visiting the nearest SBI rural branch or contact the marketing officer visiting the concerned village.

SBI's YONO App Will Soon be Available to Farmers

SBI YONO mobile app, which is a combined platform for lifestyle and banking service, will soon be available for farmers and businessmen, announced the 2nd largest card issuer in India.

With the eye-catchy tag line, ‘You Only Need One’, the app has been reportedly popular among youngsters. Since its launch in 2017, about 61 lakh users have been registered and it currently witnesses about 3 lakh logins on daily basis.

The new services in the YONO app for farmers, businessmen and frequent travelers will be launched in April in 6 vernacular languages, said SBI Chairman, Rajnish Kumar.

For farmers, the ‘YONO Farmer’ service will provide agriculture-related services such as the information related to seeds, climate or weather information, Kisan Credit Card facility, gold loans and online market information.

Businessmen would see all their needs and requirements under one card or services and for NRIs and globetrotters the structure is being mapped, added the Chairman.

What is the SBI Kisan Gold Credit Card?

The loan given through the Kisan Gold Card can be used for buying farm assets, constructing assets, purchasing land, building farm houses or for purchasing tractors and other accessories.

Loan Amount

The loan amount that is sanctioned by State Bank of India is five times the yearly farm income or 50% of the mortgaged land value, which has been submitted as collateral security. Depending on whichever is lesser, the maximum amount sanctioned will be Rs. 10 lakhs. While mortgaging the land, borrowers have to submit documents like encumbrance certificates, land records, etc.

Security

For loan amounts taken for up to Rs. 1 lakh, hypothecation of the assets that have been created is required. For loan amounts taken above Rs. 1 lakh, hypothecation of the assets, land mortgage, charge on land or any other reliable security is required.

Repayment

Borrowers can do repayments as yearly, quarterly or half-yearly installments, based on the crop harvest or other agricultural conditions within a period of six to seven years. Credit taken for establishing horticultural orchards can be repaid within nine years from the sanction date.

Farmers wishing to apply for the Kisan Gold Card can easily do so by visiting the nearest SBI rural branch or contact the marketing officer visiting the concerned village

Interest Rates for SBI Kisan Credit Card

1. Up to Rs.3 lakh – 7%
2. Above Rs.3 lakh - As applicable from time to time

How to Apply for SBI Kisan Credit Card Online

1. Farmers can now review their Kisan Credit Card accounts using the SBI online portal without visiting a bank branch.
2. You have to download the SBI YONO app and log into the portal https://www.sbiyono.sbi/index.html
3. Then, go to YONO Krishi and then click on 'Khata'.
4. Then, go to KCC Review section, and then click on 'Apply'.

Eligibility Criteria for SBI Kisan Credit Card

Kisan Credit Card:

Farmers can apply for the Kisan Credit Card scheme as a single applicant or as joint applicants with co-borrowers who are owner cultivators. Other type applicants eligible for this credit card scheme are share croppers, oral lessees, tenant farmers, SHGs and Joint Liability Groups of farmers.

Kisan Gold Card:

Farmers who have had impeccable repayment patterns for the past two years, reliable borrowers from other banks, new applicant farmers holding deposits for atleast two years with SBI and old customers who have closed their accounts with SBI can apply for the Kisan Credit Card.

Other Agricultural Banking Products Offered by SBI

1. Arthiyas Plus Scheme
2. Broiler Plus
3. Business Correspondent (BC) Arrangement
4. Capital Investment Subsidy Scheme for Commercial Production Units of Organic inputs Under National Project on Organic Farming
5. Dairy Plus Scheme For Financing Dairy Units
6. Dairy Society Plus Scheme for Financing Dairy Societies
7. Finance To Horticulture
8. Financing For Combine Harvesters
9. Financing For Organic Farming
10. Financing JLG of Tenant Farmers
11. Financing JLG of Tenant Farmers
12. Financing of Second Hand / Used Tractors Scheme
13. Financing Power Tillers
14. Gramin Bhandaran Yojna Capital Investment Subsidy Scheme for Construction / Renovation of Rural Godowns
15. Kisan Gold Card Scheme (KGC)
16. Krishi Kalyan
17. Land Purchase Scheme
18. Lead Bank Scheme
19. Minor Irrigation Schemes
20. Mortgage Loan To Seed Processing Units
21. New Tractor Loan Scheme
22. Produce Marketing Loan
23. Rural Self Employment Training Institutes (RSETIs)
24. Sanjeevani
25. Sbi Krishak Uthaan Yojna
26. Scheme For Debt Swapping of Borrowers
27. Scheme For Financing Farm Machinery Where Tangible Assets are Created
28. Scheme For Financing Micro Finance Institutions (MFIs) / Non-Government Organisation (NGOs)
29. Scheme For Financing Private Cold Storage / Private Ware Houses for On lending to Farmers
30. Scheme For Financing Seed Processors
31. Scheme To Cover Loans For General Purpose Under General Credit Card (GCC)
32. Scoring Model For Tractor Loans
33. Setting up of Agri Clinic and Agri Business Centres
34. Stree Shakti Tractor Loan (SSTL)

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