SBI Kisan Credit Card Application Form PDF

PDF Name	SBI Kisan Credit Card Application Form
No. of Pages	1
PDF Size	0.15 MB
Language	English
Tags	Application Form, Kisan Credit Card
PDF Category	Banking & Finance, Government
Source / Credits	Multiple Sources
Uploaded By	Krishan

SBI Kisan Credit Card Application Form - Summary

Kisan Credit Card Yojana is a government scheme designed to provide short-term, revolving credit to farmers across India. Launched in August 1998, this initiative aims to help farmers manage their finances effectively during crucial stages like crop cultivation, harvesting, and maintenance of their produce.

This scheme offers a cash credit facility sanctioned to farmers specifically for agricultural purposes. As the crop season begins, farmers can utilize this credit up to the approved limit for purchasing essential items such as seeds, fertilizers, pesticides, hiring labor, and carrying out sowing activities in the fields.

SBI KCC Loan Application Form: Features and Benefits

Enjoy interest at the saving bank rate on the credit balance within your KCC account.
Get a free ATM cum debit card (State Bank Kisan Card) as a benefit for all KCC borrowers.
Interest subvention of @2% per annum is available for loan amounts up to Rs. 3 Lacs.
Receive an additional interest subvention of @3% per annum for prompt repayments.
Crop insurance is available for all KCC loans concerning notified crops and areas.
The loan amount for the first year will be determined based on the cost of cultivation, post-harvest expenses, and farm maintenance costs.
For the next five years, loans will be sanctioned based on the increased scale of finance.
No collateral security is needed for KCC limits up to Rs. 1.60 lac.
The approved KCC limit will be considered when fixing the collateral security requirement.
A simple interest rate of @7% per annum will be applicable for one year or until the repayment due date, whichever comes first.
If repayment is not made by the due date, interest will be charged at the card rate.
Interest will be compounded semi-annually beyond the due date.
The repayment period can be adjusted based on the expected harvesting and marketing period for the crops financed.