1. Agriculture World

SBI is Offering Special Crop loan to Farmers, Interest Rate Only 4%, Know How to Avail!


Most of India's farmers have limited resources and need to opt for loans to fulfill their different requirements. That is why the central government, state governments, and many banks offer special loan schemes for farmers. Because of the economic need of the farmers, the Modi government has taken a big step and announced to provide Kisan Credit Card (KCC) to all the beneficiaries of the PM KisanYojana.

Let us tell you that, to date around 7 crore farmers of India have got KCC and enjoying its benefits. The good thing is that farmers can avail of a very cheap loan of about 4% on KCC. But if they repay the loan on time, then only they have to pay 4% interest. Let us know how you can get this cheap loan.

SBI offers special crop loan

SBI, the largest bank of the country, provides special and cheap agriculture loans to the farmers. SBI Crop Loan is offered in the form of SBI Kisan Credit Card (SBI KCC) to meet expenses related to crop production, post-harvest activities, etc. Loans on KCC can be availed on very easy terms. This scheme was started to provide easy and cheap loans to farmers. Here we will get to know how farmers can get a loan from the SBI branch on KCC.

For detailed information farmers can visit official website of SBI; https://sbi.co.in/web/agri-rural/agriculture-banking/crop-loan/kisan-credit-card

Why is it better to take a loan on KCC?

Farmers holding KCC can get a loan from SBI at a lower rate of 4%. This information is also given on the official website of the bank. Under the scheme, individual landowners, as well as joint cultivators, will also get loans. Not only this, the farmer who takes up land on rent can also get the benefit. As far as the ease of loan is concerned, the government already has the necessary information about the beneficiaries of the PM KisanYojana, so getting a loan through KCC will not be difficult.

How to Avail a 4% interest rate?

The rate of interest on Kisan Credit Card is 9 percent. But for the convenience of the farmers, a 2% subsidy is given by the government. After this, the rate of interest on the loan on KCC turns into 7 percent. Now if farmers return the loan within 1 year, they get a further rebate of an extra 3%. In such a case, the rate of interest on the loan will remain only 4 percent.

Read More

SBI Agriculture Loans: Here's How You Can Get Different Types of Farm Loans

Benefits of taking a loan through PM KisanYojana:

  • No collateral (security) is required on a loan up to Rs 1.60 lakh
  • Simple interest of 7% p.a will be charged for one year or till the date of payment
  • Interest rebate of 2% p.a for loan amount up to Rs. 3 Lacs
  • 3% extra interest rebate on timely payment
  • If not paid within the due dates interest is applied at card rate
  • On the loan under KCC, insurance will be provided for the crop and area.
  • All KCC borrowers get SBI Kisan Credit Card, which is a free ATM-cum-debit card.

Eligibility for KCC Scheme :

  • All farmers/individuals and joint cultivators
  • Tenant farmers, sharecroppers,and oral lessees.
  • Self-HelpGroups (SHGs)or Joint liability groups including tenant farmers.

Documents Required

  • Application form
  • Identity proof: Voter ID card, PAN card, Passport, Aadhaar card or Driving License, etc
  • Address proof: Voter ID card, Passport, Aadhaar card, Driving license, etc

How to check SBI Kisan Credit Card account balance?

You can login into your SBI account to check the details of the loan. You may also contact SBI Bank customer care to know KCC account balance.

The toll free numbers are:



In case you are unable to connect with the customer care cell via the toll free numbers you can try the tolled number 080-26599990.

Like this article?

Hey! I am Shweta. Did you liked this article and have suggestions to improve this article? Mail me your suggestions and feedback.

Share your comments

Subscribe to our Newsletter. You choose the topics of your interest and we'll send you handpicked news and latest updates based on your choice.

Subscribe Newsletters