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
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Credit balance in Kisan Credit Card account gets interest at the savings bank rate.
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For a loan amount up to Rs.3 lakh, interest subvention at 2 percent p.a. is given.
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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:
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Can be availed by pledging gold ornaments
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Easy and convenient loan process
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Loan is provided at almost all SBI bank branches
Multi Purpose Gold Loan
Features & Benefits
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Easy and convenient loan process.
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No hidden charges.
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Repayment schedules are also flexible.
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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:
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SSTL (Mortgage free)
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SSTL with Liquid Collateral
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New Tractor Loan Scheme
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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.
Allied Activities
This category consists of 3 types of agricultural loans:
SBI Dairy Loan
This loan is given to dairy societies for creation of the following infrastructure:
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Construction of milk house / society office
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Purchase automatic milk collection system
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Purchase transport vehicle
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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.
Important documents required for SBI agricultural loans
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Duly filled application form
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ID proof - Voter ID, PAN Card, Aadhaar Card, Driving License or Passport
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Address Proof - Aadhaar Card, Voter ID, Driving License or Passport
