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    SBBJ Bank Kisan Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    State Bank of Bikaner & Jaipur Kisan Credit Card Overview:

    State Bank of Bikaner & Jaipur offers various agriculture based products for farmers in Rajasthan and also across the country. Recognising the importance of helping the community develop by promoting agriculture, State Bank of Bikaner & Jaipur provides financing for various agricultural activities, construction work, plantation work, rural housing, etc. The Kisan Credit Card scheme offers excellent short term credit solutions and other financing options for allied agricultural activities, consumption needs, etc., using a simple application procedure.

    Features and Benefits of an SBBJ Kisan Credit Card:

    Kisan Credit Card – KCC:

    Cash Credit:

    The complete cash credit requirement for crop production for an entire year will be financed by State Bank of Bikaner & Jaipur. Credit will also be given for other additional requirements like agricultural machinery maintenance and implementation, diesel charges, electricity bills, unexpected expenses in relation to crop productions. The finance limit for these requirement is up to 20% without any maximum limit. The cash credit facility will also cover expenses like birth, medical funerals, religious ceremonies, marriage, children’s education, allowing a consumption limit of 25%.

    Term Credit:

    State Bank of Bikaner & Jaipur will sanction term credits for allied agricultural activities like development of land, drip irrigation, plantation, installation of pump sets, sheep breeding, dairy farming, bee keeping, fisheries, etc.

    Maximum Limit:

    The maximum term credit and cash credit limit that State Bank of Bikaner & Jaipur will sanction is based on the repayment capability of the borrower, his existing liabilities and projected net earnings from production.

    Loan Margin:

    There is no loan margin requirement for the cash credit sanctioned by State Bank of Bikaner & Jaipur. For term loans taken for up to Rs.1, 00,000, no loan margin is required. A loan margin of 15% to 25% loan margin is required for term loans above Rs.1, 00,000, based on the financial situation of the farmer.

    Security:

    Hypothecation of movable assets and crops is required for loans taken up to an amount of Rs.1, 00,000. Loan amounts above Rs.1, 00,000, require primary security in the form of Hypothecation of movable assets and crops along with collateral security. The collateral security should be given as land mortgage or as charge over lands.

    Interest Rates for working capital / crop loans:

    For crop loans taken for up to Rs. 3, 00,000, the interest rate charged by State Bank of Bikaner & Jaipur is 7% per annum. Crop loans taken for an amount above Rs. 3, 00,000, State Bank of Bikaner & Jaipur charges an interest rate as per the applicable rate for the amount. The interest rates charged for term loans is as per the credit rating given in the agricultural sector and the amount limit.

    Repayment:

    Working credit and crop loans taken for crop cultivation and allied agricultural activities have to be repaid as revolving cash credit within a period of twelve months. Term loans taken from State Bank of Bikaner & Jaipur have to be repaid within five years, based on the repayment capability of the farmer and the agricultural activity or investment type.

    Validity:

    The Kisan Credit Card is valid for a period of five years.

    Facilities available with the card:

    Short term loans and working capital credit has to be provided though one Kisan credit card account to customers. Every KCC account will come with a passbook which will carry three sections for keeping track of the credit activities. The sections will be for short term credit and crops loans, working capital credit for allied agricultural activities and for term loans.

    Personal Accident Insurance Scheme – PAIS:

    Kisan Credit Card holders can get insurance cover under the Personal Accident Insurance Scheme, with a premium of Rs. 9 for one year and Rs. 27 for a policy taken for three years. The policy can be taken by contributions received from both the farmer and State Bank of Bikaner & Jaipur in a ratio of 1:2 that has to be paid initially. Farmers can also get risk coverage for amounts ranging from Rs. 25,000 to Rs. 50,000. The Personal Accident Insurance Scheme offers covers Kisan Credit Card holders till they turn 70.

    Kisan Gold Card Scheme (KGC):

    The Kisan Gold Card Scheme is offered to farmers who have had an impeccable track record for the previous two years. This scheme provides complete flexibility and borrowers can choose the loan amount, time to avail the loan, purpose of the loan and the repayment schedule.

    The credit given under the Kisan Gold Card Scheme can be used by farmers to buy agricultural equipment, develop land, repair farm machinery, buy bullock, carts, tractors, construct farm houses and also address domestic requirements like children’s education, sickness and other family commitments. The limit available for consumption needs to up to 20%. Farmers must ensure that double financing is not done when they enroll for this scheme.

    Quantum of Loan:

    The loan amount sanctioned by State Bank of Bikaner & Jaipur is usually 50% of the mortgaged land value or five times the yearly farm income, whichever is less. The mortgaged land will be submitted as collateral security. The maximum loan limit is up to Rs. 10 lakhs excluding the current term loans held by the farmer, when he enrolls for the Kisan Gold Card Scheme. The loan limit under the Kisan Gold Card Scheme is provided along with the existing Kisan Credit Card limit.

    Loan Margin:

    The loan margin for credit taken for any farm requirements is up to 20% and loans taken for other consumption requirements is up to 30%.

    Validity:

    The validity period of the Kisan Gold Card Scheme is generally up to one year. If an existing borrower has any payment default, then he will not be able to make any withdrawals from his card account.

    Security:

    Security collateral has to be submitted by borrowers as mortgage of immovable properties or land held. Security can also be provided in the form of liquid assets inclusive of LIC policies, term deposits and NSCs.

    Interest Rates / Insurance:

    Borrowers can get insurance cover and attractive rates as stipulated for Agricultural Term Loans.

    Repayment Tenure:

    As per Agricultural Term Loans regulations, the loan has to be repaid by the borrower within six to seven years, according to the harvesting season.

    Eligibility:

    Kisan Gold Card Scheme (KGC):

    Farmers who have an excellent repayment pattern with respect to their KCC, ACC or ATL accounts for the previous two years, shown on the application date are eligible for Kisan Gold Card Scheme. Farmers who are not existing borrowers and have closed their loan accounts without any default for the last three years are also eligible. Borrowers who have had defaults, but have reduced their liabilities with on-time repayments done before the end of the tenure. Farmers who have been maintaining deposits with State Bank of Bikaner & Jaipur branches for the last three or four years also qualify for the Kisan Gold Card Scheme. Other bank borrowers having an excellent repayment record can also enroll under the Kisan Gold Card Scheme, if they have repaid their outstanding liabilities with other banks. New farmers or borrowers will not qualify to avail the Kisan Gold Card Scheme.

    Fees and Charges:

    Interest Rates:

    Interest rates are determined according to the base rate of State Bank of Bikaner & Jaipur which is 9.70% for agricultural advances.

    Interest rates for crop loans - working capital (Loan amounts up to Rs. 25 lakhs):

    Credit Limit Interest Rates
    For up to Rs. 50,000 Base Rate + 2.50% = 12.20%
    Over Rs. 50,000 and up to Rs. 2 lakhs Base Rate + 3.50% = 13.20%
    Over Rs. 2 lakhs and up to Rs. 5 lakhs Base Rate + 4.50% = 14.20%
    Over Rs. 5 lakhs and up to Rs. 25 lakhs Base Rate + 5.00% = 14.70%

    For crop loans taken for up to Rs. 3 lakhs, the interest rate charged is 7% per annum, until the repayment date or till the loan due date, whichever is earlier for one year. If the loan is repaid within the due date, then normal rates would apply.

    Interest rates for crop loans - working capital (Loan amounts above Rs. 25 lakhs, depending on the credit rating)

    Credit Limit Interest Rates
    State Bank of Bikaner & Jaipur - 1 and 2 Base Rate + 4.50% = 14.20%
    State Bank of Bikaner & Jaipur - 3 - 5 Base Rate + 5.25% = 14.95%
    State Bank of Bikaner & Jaipur - 6 and 7 Base Rate + 5.75% = 15.45%
    State Bank of Bikaner & Jaipur - 8 and above Base Rate + 6.00% = 15.70%

    Term Loans (Loan amounts up to Rs. 25 lakhs)

    Credit Limit Interest Rates for existing loans Interest Rates for new loans
    For up to Rs. 50,000 Base Rate + 3.00% = 12.70% Base Rate + 1.80% = 11.50% (Loan amounts up to Rs. 3 lakhs)
    Over Rs. 50,000 and up to Rs. 2 lakhs Base Rate + 4.00% = 13.70%
    Over Rs. 2 lakhs and up to Rs. 5 lakhs Base Rate + 5.00% = 14.70% Base Rate + 2.55% = 12.25% (Loan amounts above Rs. 3 lakhs and up to Rs. 25 lakhs)
    Over Rs. 5 lakhs and up to Rs. 25 lakhs Base Rate + 5.50% = 15.20%

    Interest rates for term loans (Loan amounts above Rs. 25 lakhs, depending on the credit rating)

    Credit Limit Interest Rates
    State Bank of Bikaner & Jaipur - 1 and 2 Base Rate + 3.00% = 12.70%
    State Bank of Bikaner & Jaipur - 3 - 5 Base Rate + 3.50% = 13.20%
    State Bank of Bikaner & Jaipur - 6 and 7 Base Rate + 3.75% = 13.45%
    State Bank of Bikaner & Jaipur - 8 and above Base Rate + 4.05% = 13.75%
    Processing Charges - For Kisan Credit Card Advances
    • Loan amount up to Rs. 50,000 (For marginal farmers) - Nil
    • Loan Amounts above Rs. 50,000 to up to Rs. 1 lakh (For small farmers) - Rs. 100
    • Loan Amounts above Rs. 1 lakh to up to Rs. 3 lakhs - Rs. 100 per lakh
    • Loan Amounts above Rs. 3 lakhs - 0.30% of the sanctioned amount for a maximum amount of Rs. 30 lakhs.
    Inspection Charges
    • Loan amount up to Rs. 25,000 - Nil
    • Loan Amounts above Rs. 25,000 to up to Rs. 2 lakhs - Rs. 500 per annum
    • Loan Amounts between Rs. 2 lakhs to up to Rs. 5 lakhs - Rs. 500 per lakh per annum for inspections done within the municipal limits up to a maximum of Rs. 12,000 per annum.
    • Outstation Inspection Charges - Actuals plus 25%, with the minimum being Rs. 12,000 per annum
    Term Loans - Upfront Fees
    • Loan amount up to Rs. 2 lakhs - Nil
    • Loan amounts over Rs. 2 lakhs and up to Rs. 5 crores - 1.25% of the loan amount.
    • Loan amounts over Rs. 5 crores and up to Rs. 10 crores - 1.50% of the loan amount.
    • Loan amounts over Rs. 10 crores - 1.00% of the loan amount. (with a minimum loan amount requirement of Rs. 15 lakhs)
    • Loan amounts over Rs. 10 crores and up to Rs. 25 crores - 1.50% of the loan amount. (with a minimum loan amount requirement of Rs. 15 lakhs)
    • Loan amounts over Rs. 25 crores -
    Borrower’s Rating - AAA / AA 0.50% (with a minimum loan amount requirement of Rs. 2.5 lakhs)
    Borrower’s Rating - A

    0.60%

    (with a minimum loan amount requirement of Rs. 3 lakhs)

    Other types of borrowers

    0.80%

    (with a minimum loan amount requirement of Rs. 25 lakhs)

    Other Agricultural Banking products offered by State Bank of Bikaner & Jaipur:

    Loans for buying Agricultural Implements – Threshers:

    Minor and Micro Irrigation Scheme -

    • Loans for constructing new wells, digging bore wells and deepening wells
    • Loans for electric, submersible and diesel pump sets
    • Loans for lining of water courses and laying conveyance pipes
    • Loans for sprinkler sets and drip sets
    • Loans for constructing Diggies in Canal areas.
    • Rain water harvesting plans for farmers from Scheduled Castes and Scheduled Tribes

    Loans for allied agricultural activities:

    • Dairy Loans
    • Loans to dairy Co-operative society members for buying cattle
    • Loans for rearing Poultry, goats and sheep

    Loans for Horticulture/ Medicinal Plantation

    Organic Farming - Vermi Compost Scheme

    Loans for developing storage facilities:

    • Construction of rural godowns by farmers
    • Cold storage

    Loans for Rural housing – Sahyog Niwas / Gramin Awas Schemes

    Loans for fertilizers, agri input seeds, agri Machinery dealers, Poultry and cattle feed dealers

    FAQs for State Bank of Bikaner & Jaipur Kisan Credit Cards:

    1. What is time taken for crop or term loans to be sanctioned by State Bank of Bikaner & Jaipur?

      At the SBBJ branch level, the time taken varies depending on the loan amount. At the RCPC level, fourteen days are required regardless of the loan amount availed.

      At the SBBJ Branch  
      Loan amounts up to Rs. 25,000 1 week
      Loan amounts above Rs. 25,000 and up to Rs. 5 lakhs 2 weeks
      Loan amounts above Rs. 5 lakhs 3 weeks
    2. What is the validity of the State Bank of Bikaner & Jaipur Kisan Credit Card?

      The validity offered on the State Bank of Bikaner & Jaipur Kisan credit card scheme will be for five years.

    3. How is the crop and term loan amount determined by State Bank of Bikaner & Jaipur?

      The crop and term loan amount is decided for a borrower based on the type of crop, area of cultivated land and the amount financed.

    4. Can individuals check the status of their State Bank of Bikaner & Jaipur Kisan credit card application online?

      Yes, crop and term loan applicants will be able to easily check the status of their State Bank of Bikaner & Jaipur Kisan credit card applications on the bank’s website.

    5. How are the interest rates applied on a State Bank of Bikaner & Jaipur Kisan Credit Card scheme?

      Interest rates for agricultural advances are determined based on the current base rate of State Bank of Bikaner & Jaipur.

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