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

Abha Toppo
Abha Toppo
farmers

State Bank of India (SBI), country's largest bank provides various types of agricultural loans to farmers. It caters to the agriculturists & farmers needs and has a huge network of 15000 branches.

Types of SBI Agriculture Loan

Different types of agricultural loans offered by the State Bank of India has been listed below:

SBI Crop Loan

Crop loan basically covers the expenses related to crop production, post-harvest activities, unforeseen events, etc. Borrowers are given a Kisan Credit Card - a type of electronic Rupay Card that can be used to withdraw money from ATMs very easily. These cards can be used to buy fertilizers for the farm.

Key Features & Benefits of Kisan Credit Card Scheme

  • Credit balance in Kisan Credit Card account gets interest at the savings bank rate.

  • For a loan amount up to Rs.3 lakh, interest subvention at 2 percent p.a. is given.

  • If borrower makes timely repayments then he will get additional interest subvention at 3 percent p.a.

Check Details - sbi.co.in/

SBI Gold Loan

Farmers can get loans for agricultural purposes by pledging their gold ornaments. These loans have good interest rates & are disbursed almost immediately. In addition, all farming activities can be covered through these loans. Two types of gold loans available to farmers are - Agri Gold Loan for Crop Production & Multi Purpose Gold Loan.

Agri Gold Loan for Crop Production

Features & Benefits:

  • Can be availed by pledging gold ornaments

  • Easy and convenient loan process

  • Loan is provided at almost all SBI bank branches

Multi Purpose Gold Loan

Features & Benefits

  • Easy and convenient loan process.

  • No hidden charges.

  • Repayment schedules are also flexible.

  • Loans are available at all semi urban & rural bank branches

SBI Farm Mechanization Loan

These loans are given to buy agriculture equipments and machines like tractors, power tillers, combine harvesters, etc. Farmer can avail this loan without any collateral or guarantee. Different types of farm mechanization loans include;

Tractor Loan

This includes 4 types of loan schemes:

  • SSTL (Mortgage free)

  • SSTL with Liquid Collateral

  • New Tractor Loan Scheme

  • Tatkal Tractor Loan

Combine Harvester Loan

The loan is taken to buy a combine harvester & its accessories. The loan must be repaid in half-yearly installments. All the farmers who can run combine harvesters can apply and they should have 8 acres of irrigated land.

Drip Irrigation Loans

The loan is basically taken to buy a drip irrigation system. All farmers who have land and are involved in agricultural activities can apply for the loan.

farm

Allied Activities

This category consists of 3 types of agricultural loans:

Dairy Loan

This loan is given to dairy societies for creation of the following infrastructure:

  • Construction of milk house / society office

  • Purchase automatic milk collection system

  • Purchase transport vehicle

  • Buy bulk chilling unit

The loan can be taken by a milk producer co-operative society that is affiliated to the district milk union.

Poultry Loan

The loan can be taken by farmers for construction of feed rooms, poultry shed & other equipment.

Fisheries Loan

The loan can be availed to purchase fish net, fish seeds & other related equipment. All proficient fishermen & farmers with knowledge in pisciculture can apply for the loan.

Basic documents required for SBI agricultural loans

  • Duly filled application form

  • ID proof - Voter ID, PAN Card, Aadhaar Card, Driving License or Passport

  • Address Proof - Aadhaar Card, Voter ID, Driving License or Passport

Direct Link to apply for SBI agricultural loan - Click Here

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