SBI Kisan Credit Card: Key Features, Benefits, and How to Apply

SBI launched its SBI Kisan Credit Card to support farmers in their agricultural expenses. This card is designed to provide timely credit and help farmers avail of instant funds whenever they experience financial hardship. It is designed to meet the various needs associated with crop production, post-harvest expenses, and other allied agricultural activities. With interest rates starting at 7.00% per annum, the card also offers benefits such as a 3% interest subvention for timely repayment, no collateral requirement for loans up to Rs. 1.60 lakh, and eligibility for crop insurance under schemes like the Pradhan Mantri Fasal Bima Yojana (PMFBY).

Features & Benefits of the SBI Kisan Credit Card

SBI Kisan Credit Card offers various features and benefits to farmers to assist them with their agricultural needs. Following are the key features and benefits of the SBI Kisan Credit Card:

Features

• Revolving Cash Credit Account: The SBI Kisan Credit Card functions as a revolving cash credit account, allowing the credit balance to earn the savings bank interest rate.
• Tenure: The card has a 5-year tenure, with the credit limit increasing by 10% annually, subject to an annual review.
• Interest Subvention: Farmers benefit from a 3% interest subvention for timely loan repayment up to Rs. 3 lakh.
• Repayment Flexibility: The repayment period is aligned with the crop production and marketing period, providing flexibility according to agricultural cycles.
• RuPay Debit Card: All eligible SBI KCC borrowers receive a RuPay debit card.
• Insurance Coverage: If the RuPay card is activated at least once every 45 days, cardholders receive accidental insurance of Rs. 1 lakh. Eligible crops are covered under the Pradhan Mantri Fasal Bima Yojana (PMFBY).

Benefits

• Low Interest Rates: The interest rates for the SBI Kisan Credit Card start at 7% per annum for loans up to Rs. 3 lakh, making it affordable for farmers​.
• Easy Application Process: Farmers can easily apply for the SBI Kisan Credit Card by visiting the nearest SBI branch, ensuring a hassle-free documentation process.
• Wide Eligibility: The card is available to individual farmers, joint borrowers who are owner cultivators, tenant farmers, oral lessees, sharecroppers, and members of Self-Help Groups (SHGs) or Joint Liability Groups (JLGs)​.
• Comprehensive Coverage: The SBI KCC loan can be used for various agricultural purposes, including purchasing seeds, fertilisers, and farm equipment, as well as covering post-harvest expenses and other related activities​.

Eligibility & Documents Required For SBI Kisan Credit Card

Check the eligibility criteria and the documents required for a SBI Kisan Credit Card:

Eligibility

• Individual Farmers and Joint Borrowers: Owner cultivators are eligible.
• Tenant Farmers and Oral Lessees: Farmers who lease land for cultivation.
• Sharecroppers: Individuals who cultivate land and share the crop or profits with the landowner.
• Self-Help Groups (SHGs) and Joint Liability Groups (JLGs): Tenant farmers and sharecroppers who belong to these groups can also apply for the card​.

Documentation

• Completed Application Form.
• Two passport-size photos.
• Proof of Identity: This can include a Driving License, Aadhaar Card, Voter ID Card, or Passport (any one).
• Proof of Address: Similar to identity proof, this can be a Driving License, Aadhar Card, etc.
• Certified Proof of Landholding: Verified by the revenue authorities.
• Details of Cropping Pattern: Information on crops grown and the acreage.
• Security Documents: Required for loan amounts exceeding Rs. 1.60 lakhs or Rs. 3.00 lakhs, as applicable.
• Additional Documents: Any other documents as specified in the sanction terms​

Application Process for a SBI Kisan Credit Card

To apply for the SBI Kisan Credit Card, follow these steps:

• Obtain Application Form: Download the application form from the SBI website or get it from the nearest SBI branch.
• Fill Out the Form: Complete the application with accurate information.
• Submit the Application: Physically submit the filled application at the nearest SBI branch.
• Application Review: A loan officer will review and verify the submitted application.
• Approval and Card Issuance: The loan amount is granted upon approval, and the SBI Kisan Credit Card is issued.
• Utilise the Card: Start using the loan amount once you receive the SBI Kisan Credit Card.

Limit of SBI Kisan Credit Card

There is no minimum limit for the SBI KCC loan. The amount is determined based on the farmer’s requirements and eligibility.

How to Access Funds from SBI Kisan Credit Card?

To get money from your SBI Kisan Credit Card, use these simple methods:

• ATM Withdrawals: Use the RuPay debit card with your Kisan Credit Card to withdraw cash from any ATM.
• Bank Branch Withdrawals: Go to any SBI branch and withdraw cash directly from your Kisan Credit Card account.
• Using POS Terminals: Use your RuPay debit card to transact at Point of Sale (POS) machines.