Get loans up to Rs 4 Lakhs at low interest rates, know how

SBI Kisan Credit Card System

SBI Kisan credit card: To empower the farmer, the central government has launched a Kisan credit card system. Under this scheme, farmers receive loans of up to Rs 3-4 lakhs at a very low interest rate. Farmers can invest this loan amount in their farm or can buy things like food and seeds. If you also have an account with the State Bank of India, you can get the Kisan credit card, which can be created simply while sitting at home.

Read the entire article to learn how to apply with SBI account.

Do you know how to apply with an SBI account?

If you have a State Bank of India (SBI) account, you can apply through the YONO app. To do this, go to the YONO agriculture website and apply for a Kisan credit card. First you need to install the SBI YONO app on your phone. Other than that, you can log in by going to the SBI YONO online page.

Steps to follow:

  • To get started, go to SBI YONO official site.

  • When you first visit this page, you will notice the farming choice.

  • You must then select the option with account after accessing this option.

  • Proceed to the Kisan Credit Card Review section. After that, select the apply option and fill in all the required fields on the website.

  • As soon as the information is provided, your application will be complete.

What is Kisan Credit Card?

  • Banks are the issuers of Kisan credit cards. The government’s objective is to provide loans to farmers for the purchase of agricultural products, including fertilizers, seeds and pesticides.

  • The second goal is to eliminate the need for farmers to borrow money from moneylenders who charge arbitrary interest. If you use a Kisan credit card, you can save 2-4% on your loan if you pay it back on time.

What do the banks see?

  • Before granting a loan, banks do background checks on the requesting farmer.

  • This reveals whether he is a farmer or not.

  • Next, his income history is reviewed.

  • For identification, Aadhar card, PAN card and photo are taken.

  • After that, an affidavit is collected stating that there are no outstanding debts with another bank.

Discounts in Fess & Charges

  • Fees and charges for obtaining a Kisan credit card have also been waived by the government.

  • In reality, getting a KCC product costs between Rs 2000 and Rs 5000.

  • The Indian Banks Association issued a recommendation at the request of the government, asking banks to provide waivers of fees and charges.

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