SBI Kisan Credit Card: To empower the farmer, central government has started a Kisan Credit Card Scheme. Under the scheme, farmers are given loans of up to Rs 3 to 4 lakhs at a very low interest. The farmers can invest this loan amount in his farming or can buy things such as food and seeds. If you also have an account with State Bank of India, then you can get the Kisan Credit card, which can be made simply while sitting at home.
Read on the whole article to know how to apply this with SBI Account.
Know How to Apply with SBI Account?
If you have a State Bank of India (SBI) account, you can apply through the YONO App. To do so, go to the YONO agriculture website and apply for a Kisan Credit Card. You must first install the SBI YONO app on your phone. Apart from that, you can log in by going to the SBI YONO online page.
Steps to Follow:
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To begin, go to SBI YONO's official website.
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When you first visit this page, you will notice the agriculture choice.
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You must next select the option with account after getting to this option.
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Proceed to the Kisan Credit Card Review Section. After that, select the application option and complete all of the required fields on the website.
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As soon as the information is provided, your application will be finished.
What is Kisan Credit Card?
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Banks are the issuers of Kisan Credit Cards. The government's goal is to provide loans to farmers for the purchase of agricultural commodities including fertilizers, seeds, and pesticides, among other things.
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The second goal is to eliminate the need for farmers to borrow money from moneylenders who charge arbitrary interest. If you use a Kisan Credit Card, you can save 2 - 4% on your loan if you pay it back on time.
What do Banks See?
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Before granting a loan, banks do background checks on the application farmer.
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This reveals whether or not he is a farmer.
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Then his earnings history is examined.
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For identification, Aadhar Card, PAN Card, and a photo are taken.
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After that, an affidavit is collected stating that there are no outstanding debts with any other bank.
Rebate in Fess & Charges
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The fees and charges for obtaining a Kisan Credit Card have also been waived by the government.
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In reality, getting KCC produced costs between Rs 2000 to Rs 5000.
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The Indian Banks Association released a recommendation on the government's request, requesting that banks provide fee and charge exemptions.
