State bank of India (Agricultural crop loan & KCC) 2021.
Objectives
- To provide timely and adequate credit to farmers to meet their production credit needs (Cultivation expenses) besides meeting contingency expenses and expenses related to ancillary activities through simplified procedure facilitating the borrowers for availing loans as and when they need
- RKCC will be in the nature of revolving cash credit account. Credit balance in the account, if any, will fetch interest at Savings bank rate.
- Tenure - 5 year's, with 10% annual increase of limit every year, subject to annual review.
- Interest Subvention-3% interest subvention for prompt borrowers up to Rs. 3.00 lacs
- Repayment - The repayment period as per the crop period (Short/ Long) and marketing period for the crop.
- KCC borrowers below 70 years of age are covered under Personal Accident Insurance Scheme (PAIS)
- Eligible crops are covered under PRADHAN MANTRI FASAL BIMA YOJNA (PMFBY).
- Up to Rs. 3.00 Lacs – 7%
- Above Rs. 3.00 Lacs - As applicable from time to time
- Click here Form pdf download.
- RuPay cards for all eligible KCC borrowers
- Accidental insurance of Rs.1.00 lakh for Rupay Cards holder if the card is activated once in 45 days.
- All farmers-individuals/Joint borrowers who are owner cultivators
- Tenant farmers, Oral lessees and Share Croppers etc
- SHGs or Joint Liability Groups of farmers including tenant farmers, share croppers etc.
- Primary : Hypothecation of Crop.
- Collateral : Mortgage / charge over Agriculture land. (Collateral security is waived for:
- KCC limit of up to Rs.1.60 lakh.
- Under Tie up: KCC limit up to Rs.3 lakhs.)
- Click Here for download YONO Application
- Hassle free KCC review on through YONO App or at YONO Branch. The salient feature of process are:
- Contact less & paperless journey for application through YONO App.
- E2E process on YONO Branch portal.
- Standardization of KCC Review process.
- Minimum data entry by farmer and branch.
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