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State Bank of India (SBI) provides SBI Kisan Credit Card (KCC) scheme for ensuring that farmers get timely and adequate credit for meeting various expenses relating to crop production, emergency expenses, and related agricultural activities. The loan is disbursed through a simplified procedure having easy documentation for helping farmers avail loans easily, as and when they require it. The various aspects of the SBI Kisan Credit Card are as seen below:

Features and Benefits

Credit Limit

  • The short term credit limit for the first year is determined by SBI on the basis of crops grown and as per the quantum of finance and cropping pattern projected.
  • The credit limit is based on various factors like household expenses, farm and farm asset maintenance costs, crop insurance, etc.
  • The credit limit gets revised every year with an increase of 10% annually.
  • Does not include any investments for purchasing farm implements or equipment for crop production that requires the borrower has to repay the amount within one year. The investment portion will not be considered for annual review but will be considered for setting the withdrawal limit.
  • Maximum Permissible Limit (MPL) which is sanctioned for KCC is the short term loan limit undertaken for fifth year which includes investment loan amount.
  • Maximum Withdrawal Limit (MDL) sanctioned for KCC will be the short term loan limit for Year 1 or  total of the limit sanctioned from 2nd – 5th year which includes investment loan amount.
  • Cash credit under the Kisan Credit Card is a  revolving credit, where any balance in an account will fetch interest as per Savings bank rates

Card

  • KCC customers will be eligible for receiving a Debit Card/ATM card - State Bank Kisan Card, for conducting withdrawals from their KCC accounts at PoS and ATM machines

Processing Fees

  • Waived for loans up to Rs. 3 lakhs

Security

  • For credit limits up to Rs. 1 lakh – no security required
  • For credit limits up to Rs. 3 lakhs – no security required if there is any kind of collaboration arrangement regarding recovery of loan
  • For all other loans, security is applicable

Renewal

  • KCC has to be renewed annually before the due date for getting the assigned credit limit.
  • Renewal has to be done annually for a total tenure of 5 years. 
  • On renewal, revision of the MDL will be assessed based on the projected cropping pattern and the borrower’s farming area

Insurance

  • Crop insurance eligible for crops as per the National Agricultural Insurance Scheme.

Loan Disbursement

  • Loan disbursed by SBI in the form of cash on the basis of the cultivation needs of the crop grown

Repayment

  • Single Kharif crop - within 31st January
  • Single Rabi crop loans - within 31st July.
  • Multiple Rabi /Kharif/double-crop loans - within 31st July
  • Long-term crop loans - throughout the year from the date of disbursement
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