SBI Kisan Credit Card (KCC)

The various ways the SBI Kisan credit card provides aid to the farmers are:

• Cardholders will earn interest on the credit balance that they maintain in their Kisan Credit Card account
• Farmers will get interest subvention at 2.00% per annum on loans up to Rs. 3.00 lakh. Additional interest subvention up to 3.00% p.a. on prompt repayments
• Crop insurance is provided to all SBI Kisan Credit Cardholders who sowed certain crops in certain areas
• The loan amount given to the farmer will be decided on the basis of cost of cultivation, expenses incurred post-harvesting and any other maintenance costs
• After the first year, the loan amount will be decided on the basis of the increase in the scale of finance
• Security is not required for loans up to Rs. 1.60 lakh
• Currently SBI Kisan credit card is charging simple interest at 7.00% p.a. for one year or the repayment due date, whichever is earlier
• If repayment is not done within the due date interest will be applied at card rate. After the due date interest will get compounded every 6 months
• Repayment period will be fixed on the basis of harvesting and marketing period of the crops sown using the loan amount

Suggested Read: Kisan Credit Card: A Boon for Farmers in India

Eligibility Criteria

The eligibility for SBI Kisan Credit Card are:

• Any farmer whether they are individuals, joint cultivator owners, Tenant farmers, oral lessees and share croppers etc., can apply for this credit card
• Self Help Groups and Joint liability groups including tenant farmers can also apply for SBI Kisan credit card

Documents Required

The documents required are:

Proof of Identity	PAN Card, Aadhaar Card, Voter’s ID Card, Passport, Driving Licence or any other government approved photo ID
Proof of Address	Aadhaar Card, Passport, Utility bills (not more than 3 months old) or Any other government approved address proof

SBI Kisan credit card application requires physical submission of application. The application can be downloaded from the SBI website or asked for at the nearest bank branch. Submit the duly filled application at the nearest SBI branch. Afterwards, the loan officer will review the application and then grant the loan amount. Customers can start using the loan amount as soon as they receive their SBI Kisan credit card.

• If cardholder makes timely payment then the interest rate might be reduced
• If customers don’t pay by the due dates then they will incur compound interest and may have to pay late payment fee
• Farmers can earn interest on the credit amount they maintain in their KCC account
• The terms and conditions may vary for different areas as well as the crop raised by the applicant

How can I get SBI Kisan credit card?
Getting an SBI Kisan credit card is easy. Customers can download the form from here. Alternatively, they can visit the nearest SBI bank branch and get the form from there. Afterwards, fill the form and submit it at the branch.

What is the benefit of SBI Kisan Credit Card Scheme?
There are many benefits of getting SBI Kisan credit card scheme, some of them are:

• SBI Bank has the most penetration in rural areas
• They offer one of the lowest interest rate on the loan amount
• Customers can expect quick disbursal of the loan amount

How can I check my SBI Kisan Credit Card account balance?
You can login into your SBI account to check the details of the loan. You may also contact SBI Bank customer care cell to know KCC account balance. The toll free numbers are:

• 1800 11 2211
• 1800 425 3800

In case you are unable to connect with the customer care cell via the toll free numbers you can try the tolled number 080-26599990.

What security will I have to give to the bank in order to secure the loan?
SBI might not ask for security on loans up to Rs. 1.60 lakh. However, on loan amount above 1.60 lakh, the bank may seek security. The below-given options are generally sought by banks; however, SBI reserves the final call on what it deems fit:

• Hypothecation of the crop sown using the loan amount
• Hypothecation of the machinery bought using the loan amount

What is the interest rate on Kisan Credit Card Loan?
The interest rate charged by SBI Bank is dependent on a few factors like loan amount sought, tenure, crop to be sown, etc. So the interest charged will vary from case to case. Do note that timely payment may result in the reduction of the interest charged on SBI Kisan Credit Card.