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The State Bank of Hyderabad Kisan Credit Card is available to all farmers to assist them financially in crop production. Farmers can secure timely and adequate financial assistance when they require to meet their short-term agricultural needs. The loan is also sanctioned for the purpose of allied activities, ancillary needs and contingent needs. Borrowers can withdraw cash from their cash credit account whenever they want with no restrictions except for the credit limit.
The Kisan Credit Card offers farmer’s cash credit which is based on the revolving facility. This provides timely financial support to the farmers to fulfill their credit requirements.
Credit is granted to meet the financial needs of farmers for production of crops. It is also sanctioned to meet working capital requirements for allied activities. The loan also covers ancillary and contingent needs that arise out of production.
Credit limits are determined based on the following criteria.
Within the overall limit sanctioned, the bank may also impose seasonal limits.
Within the credit limit, the borrower may make how many ever withdrawals they may need. Deposits are also unlimited.
The Kisan Credit Card offers farmers cash credit which is based on the revolving facility. This provides timely financial support to the farmers to fulfill their credit requirements.
Long and Accommodating Tenures:
The credit is granted for a period of three years. This is subject to annual reviews. Payment can be rescheduled or re-phased in case of natural calamities like drought or floods.
The margin requirements for the Kisan Credit Card Scheme are the same as Crop Loans.
For Small and Marginal Farmers, no margin is required.
For all others, the margin requirement is 15% - 25% depending upon purpose and quantum of loan.
The interest rates under this scheme are eligible for subvention as per the RBI and Government of India. For credit up to Rs. 3 lakhs, the interest is 7.00% p.a. This rate of interest is applicable from the date or loan disbursement or withdrawal till the date of repayment or date on which the payment becomes overdue. Overdue dates are 31st March for Kharif crops and 30th June for Rabi crops. For loans that do not fall under the interest subvention scheme, the following interest rates are applicable. PLR stands Prime Lending Rate.
|Credit Limit||Component||Interest Rate|
|Upto Rs. 50,000||PLR-3.00%||9.25 %|
|Rs. 50,000 - Rs. 2 lakhs||PLR-2.00%||10.25 %|
|Rs. 2 lakhs - Rs. 3 lakhs||PLR-1.25%||11.00 %|
|Rs. 3 lakhs - Rs. 5 lakhs||PLR-0.50%||11.75 %|
|Rs. 5 lakhs - Rs. 25 lakhs||PLR+0.50%||12.75 %|
|Above Rs. 25 lakhs|
|SB1 and SB2||PLR||12.25%|
|SB3 to SB5||PLR+0.75%||13.00 %|
|SB6 and SB7||PLR+1.25%||13.50 %|
|SB8 and SB9||PLR+1.50%||13.75 %|
|SB10 to SB216||PLR+1.50%||13.75 %|
All Kisan Credit Card holders are insured under the Personal Accident Insurance Scheme (PAIS).
The cover provided is as follows:
|Death due to accident||Rs. 50,000|
|Permanent total disability||Rs. 50,000|
|Loss of the two limbs, or both eyes, or one limb and one eye||Rs. 50,000|
|Loss of one limb or one eye||Rs. 25,000|
To apply for a State Bank of Hyderabad Kisan Credit Card, please approach the nearest State Bank of Hyderabad branch.
Production Credit Loans:
Investment Credit Loans:
Only for credit limits exceeding Rs. 50,000, security is required apart from the hypothecation of crops. Security in the form of mortgage of the farmland is required. In case you cannot provide that, the bank may also accept a third party guarantee.
Interest subvention is a subsidy offered on the interest rate on loans and credit schemes granted by the State or Central Government. This translates directly to a discount on the interest rate for the borrower. The subsidized rate offered on the State Bank of Hyderabad Kisan Credit Card Scheme is 7% per annum.
Marginal and Small Farmers do not require any margin limits. For others, the marginal requirements are determined based on the purpose of the loan and the amount of credit taken. The margin can vary between 15% and 25%.
The SBH Kisan Credit Card is available to agriculturists, tenant farmers, and sharecroppers to raise all types of crops. All existing SBH loan borrowers and new borrowers can apply.