SBI Kisan Credit Card Application Form - Description
Dear readers, here we are offering SBI Kisan Credit Card Application Form PDF to all of you. Kisan Credit Card is a government scheme that allows farmers to avail loans at concessional rates to save them from extra rates usually charged by moneylenders in the unorganized sector. State Bank of India (SBI) has followed the government’s directive to provide loans to farmers with low interest rates and easy repayment tenure. KCC’s 15-day campaign for the beneficiary farmers of Samman Nidhi Yojana has started from February 10. Through this KCC Loan In Hindi, the farmer gets a loan of up to Rs 3 lakh for the crop, on which an interest of 7% is given. If the loan is repaid on time, the interest of 3% is waived off, i.e. the actual interest remains at 4%. SBI determines the amount of loan given to farmers on the basis of farming cost and crop expenses incurred by the farmer. Farmers do not require any kind of guarantee for loans up to Rs 1.60 lakh.
SBI Kisan Credit Card Application Form Key Features
|Facility Type:||Revolving Cash Credit Account. The credit balance in the account, if any, will earn interest at the savings bank rate.|
|Quantum of Loan:||Need based finance considering crop pattern, acreage and scale of finance (SOF) determined by DLTC (District Level Technical Committee).|
|Repayment:||Repayment period as per crop duration (short/long) and marketing period for the crop.|
|Security:||Primary: Hypothecation of crops grown / assets to be created out of bank finance|
|Collateral: Equitable mortgage/registered mortgage of land/immovable property as per the value of loan 100%. However, collateral is not required for KCC limits up to Rs 1.60 lakh and Rs 3.00 lakh in case of tie up arrangement.|
|Interest Subvention:||3% per annum as interest subvention in the form of Prompt Repayment Incentive (PRI) up to Rs. 3.00 lakh.|
|Others:||Tenure : 5 years, with 10% annual increase in limit each year, subject to annual review.|
|RuPay Debit Card for all eligible KCC borrowers.|
|Insurance :||A. Eligible crops can be covered under Pradhan Mantri Fasal Bima Yojana (PMFBY) by paying premium.|
|b. The borrower should opt for personal accident insurance, health insurance (wherever applicable).|
You can download SBI Kisan Credit Card Application Form PDF by clicking on the following download button.