Good news for farmers now you can easily get SBI's Kisan Credit Card,
The Modi government is running a campaign to give more and more farmers KCC ie Kisan Credit Card. The government has targeted to issue cards to 2.5 crore farmers at the time of corona lockdown. 1.5 crore new beneficiaries have been identified so far. 1 crore more people to be free. The role of the bank is important to meet this goal. State Bank of India has given this complete information about its card.
The government has asked banks to impose caps in rural areas to expand the scope of the KCC scheme. At the same time the processing fee for making it has been abolished. Which has been linked to Pradhan Mantri Kisan Nidhi Yojana. So that it is easy to create KCC. The central government has verified all the data of crores of farmers under the PM Kisan Yojana. This is the reason why the bank cannot be negligent in giving KCC.
SBI Card Features and Benefits
- The interest on the credit balance in the KCC account is paid at the rate of Savings Bank.
- Free ATM debit cards are provided to all KCC this borrowers.
- For loan amount up to Rs. 3 lakhs, interest is exempted at the rate of 2% per annum.
- Additional interest is deducted at the rate of 3% per annum on timely repayment.
Loans up to 1.60 lakhs without guarantee
- Notified area for KCC loan under crop insurance.
-The loan amount for the first year is determined based on the cost of the farmer, post-harvest expenses.
-Loan will be sanctioned on the basis of increase in the amount of a money during 5 years.
- There is no guarantee of KCC limit up to 1.60 lakhs.
- The compound interest is charged half-yearly after the due date.
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Required documents
- Application form duly filled
- Identity certificate Voter letter, pen card, passport, Aadhaar card and DL etc.
- Farmers engaged in a individual or joint farming are eligible for this.
- Tenants, partner farmers and self-help groups may also benefit.
