KCC Interest Rate SBI

I want to know the interest rate on Kisan Credit Card Scheme in State bank of India SBI so can you tell me?

[shikha]

State bank of India SBI provide Kisan Credit Card Scheme at interest at saving bank rate on credit balance in KCC account

Kisan Credit Card Scheme

Features and benefits -

Get interest at saving bank rate on credit balance in KCC account
Free ATM cum debit card (State Bank Kisan Card) for all KCC borrowers
Interest subvention @2%p.a.is available for loan amount uptoRs. 3 Lacs
Additional interest subvention @3% p.a.for prompt repayments
notified crops / notified areas are covered under crop insurance for all KCC loans

Rate of Interest :

Simple interest @7% p.awill be charged for one year or upto the repayment due date, whichever is earlier.

In case of non-repayment within the due dates interest is applied at card rate

Beyond due date interest will be compounded half yearly

Eligibility :

All farmers – individuals/Joint cultivator owners
Tenant farmers, oral lessees and share croppers etc.

SHGs or Joint liability groups including tenant farmers

Quantum of loan:

Quantum of loan for 1st year will be assessed on the basis of Cost of cultivation, post-harvest expenses and farm maintenance cost

For subsequent 5 year loan will be sanction on the basis of increase in scale of finance

Collateral Security :

Collateral security is waived for KCC limit uptoRs. 1 lac.
SanctionedKCClimit will beconsidered for the purpose of fixingcollateral security requirement

Documents required-

Duly filled in application form
Identity proof- Voter ID card/PAN card/Passport/ Aadhaar card,/Driving License etc
Address proof: Voter ID card/Passport/Aadhaar card/Driving license etc

Customer service: 1800 425 3800