SBI Agriculture Loan

State Bank of India (SBI) Agriculture Loans or Crop Loans, are a financial offering designed to support farmers in meeting their crop production needs.

SBI aims to support farmers by offering flexible terms and competitive interest rates, providing timely and adequate credit for purchasing seeds, fertilizers, and other essential inputs needed for crop cultivation.

The Crop Loan from SBI helps in agricultural productivity and ensures financial inclusion for farmers, contributing to the overall growth of the agricultural sector in India.

Interest Rates for SBI Crop / Agricultural Loans

The interest rates for SBI crop and agricultural loans vary depending on the type of loan you're looking for and other factors like loan amount and repayment discipline. Here's a breakdown:

Kisan Credit Card (KCC) Starting at 7% p.a.
Kisan Samriddhi Rin Starting 1.80% above 1-Year MCLR
Note: These rates are indicative and subject to change. Always check with the bank for the most up-to-date information before making any investment decisions.

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Eligibility Criteria for SBI Crop /Agricultural Loan

The eligibility criteria for SBI crop and agricultural loans vary depending on the specific type of loan you're interested in. Typically, the loan amount and repayment schedule are determined based on the borrower's creditworthiness, the purpose of the loan, and the potential income generation from the agricultural activity.

Here's a general overview of the common requirements:

General Eligibility:

  • Indian citizen: Must be a resident of India with valid proof of identity and address.
  • Age: Typically between 18 and 65 years old.

Land Ownership/Tenancy:

  • Owned land: Must own cultivable land in your name or in the name of a close family member (spouse, father, mother, son, or daughter).
  • Tenanted land: If you are a tenant, you may be eligible for loans depending on the specific scheme and tenancy agreement.
  • Agriculture Activity: Must be engaged in or plan to engage in farming, horticulture, animal husbandry, poultry farming, fisheries, or other approved agricultural activities.
  • Financial Status: May require proof of income through land records, crop receipts, or other means depending on the loan amount and scheme.
  • Credit History: Good credit history (CIBIL score) may be preferred for larger loan amounts.

Specific Loan Types may have additional criteria:

  • Kisan Credit Card (KCC):
  • All farmers-individuals/Joint borrowers who are owner cultivators.
  • Tenant farmers, Oral lessees and Sharecroppers, etc,.
  • SHGs or Joint Liability Groups of farmers including tenant farmers, sharecroppers, etc,.

Kisan Samriddhi Rin:

  • Farmers engaged in progressive or Scientific farming.
  • Minimum land holding: At least having 4 acres of land holding Or farmer is engaged in scientific methods of farming.
  • Credit score: 650 and above · Age Criteria: Min. 18 years, Max. 70 years. (Above 60 yrsCo-borrower is a must).
  • For Corporates: Must be earning profit for 2 years as per audited/actual/ projected balance sheet

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Documents Required for Crop Loan

The documents required for an SBI Crop Loan can vary slightly depending on factors like loan amount, location, and individual circumstances. However, here's a general overview of the essential documents you'll likely need:

  • Application form: Duly filled and signed.
  • Proof of Identity: PAN Card, Aadhaar Card, Voter ID, Driving License, or Passport.
  • Proof of Address: Same as above documents or electricity bill, bank statement, etc.
  • Proof of Landholding: Land Record Certificates, Lease Agreements, Land Passbook, etc. (Certified by revenue authorities if required).
  • Crop Details: Cropping pattern (crops grown) with acreage.

Agriculture Loan EMI Calculator

The Agriculture Loan EMI Calculator helps farmers plan their finances by estimating monthly repayments based on factors like loan amount and interest rate. It's a straightforward tool for understanding and managing repayment commitments effectively.

You can also use our handy Buddy loan calculator to calculate your EMI:

Monthly EMI 86
Principal Amount 1,000
Total Interest 32
Total Amount 1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

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List of Cooperative Banks Offering Agricultural Loans

Agricultural loans support farmers and several cooperative banks that are actively involved in providing financial assistance to the agricultural sector. This list shows the various cooperative banks that offer agricultural loans.

Bank Name Interest Rate
National Bank for Agriculture and Rural Development Starting at 4.5% p.a.
Bihar State Co-operative Bank Limited Starting at 5% p.a.
Haryana State Co-operative Apex Bank Limited Starting at 4.5% p.a
National Federation of State Co-operative Banks Limited Starting at 5.40%
Repatriates Co-operative Finance and Development Bank Limited Starting at 4.25% p.a.

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Note- These rates are indicative and subject to change. Always check with the bank for the most up-to-date information before making any investment decisions.

Types of SBI Agriculture/ Crop Loans

State Bank of India (SBI) offers a diverse range of agriculture and crop loans tailored to meet the specific needs of farmers. From the Kisan Credit Card providing short-term credit to Crop Loans supporting cultivation expenses and specialized schemes to help farmers.

Here are all the schemes offered by SBI:

Kisan Credit Card

The Kisan Credit Card (KCC) is a revolutionary credit scheme launched by the Indian government and various banks, including SBI, to provide flexible and affordable credit to farmers throughout the year.

Loan amount No ceiling
Interest rate Starting from 7% p.a.
Tenure 5 years, with 10% annual increase of limit every year.
Processing Fee For loans more than 3 lakhs - 0.35% of loan limit + GS
Repayment The repayment period as per the crop period.
Note- These rates are indicative and subject to change. Always check with the bank for the most up-to-date information before making any investment decisions.

Other Benefits and Features:

  • Insurance:

a. Eligible crops may be covered under PRADHAN MANTRI FASAL BIMA YOJNA (PMFBY) on premium payment.

b. Borrower should also opt for Personal Accident Insurance, Health Insurance (wherever applicable).

Kisan Samriddhi Rin

It is a long-term agricultural loan scheme offered by the State Bank of India (SBI) to farmers. It is designed to provide farmers with the financial resources they need to improve their agricultural practices and productivity.

Loan amount Rs 5 lakhs to Rs 50 crores
Interest rate Starting from 1.80% above 1-Year MCLR
Tenure 5 years, with 10% annual increase of limit every year.
Age 18 to 70 years. (Above 60 yrs,Co-borrower is must)
For Corporates Must be earning profit for 2 years as per audited/actual/ projected balance sheet

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Note- These rates are indicative and subject to change. Always check with the bank for the most up-to-date information before making any investment decisions.

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Benefits of SBI Agriculture/ Crop Loans

SBI offers a diverse range of agricultural and crop loans with numerous benefits for farmers, both individual and commercial, across various stages of their farming journey. Here are some key advantages of choosing SBI Agriculture/Crop Loans:

  1. Financial Access: SBI Agriculture Loans bridge the financing gap, enabling farmers to invest in modern practices and escape the clutches of high-interest informal lenders, covering essential expenses like land prep, seeds, and more.
  2. Flexible Options: It offers a variety of loan types to cater to different needs and farming activities.Loans like Kisan Credit Card (KCC) provide a revolving credit facility with flexible withdrawals and repayments.Loan tenure and repayment schedules can be adjusted based on crop cycles and harvest seasons.
  3. Competitive Interest Rates: Compared to commercial loans, SBI agricultural loans generally offer lower interest rates, often subsidised by government schemes.
    Potential for subvention further reduces the effective interest rate for timely repayments.
  4. Collateral Options: Some loans like Crop Loans do not require collateral, making them accessible to small and marginal farmers.
  5. Additional Services: SBI provides insurance options for crops and livestock, mitigating risks associated with unpredictable weather or disease outbreaks.
    Access to extension services and technical guidance from agricultural experts may be available through partnerships with government agencies.
  6. Government Support: Many SBI agricultural loan schemes are linked to government initiatives and subsidies, offering additional benefits to farmers.
    This makes them a reliable and trustworthy source of financing for agricultural activities.

Application Process for SBI Crop Loans

Here's an overview of the process for applying for an SBI Crop Loan:

Step 1. Eligibility Check: Ensure you meet the basic eligibility criteria, such as being an Indian citizen with ownership or tenancy of cultivable land, engaging in approved agricultural activities, and falling within the specified age bracket.

Step 2. Collect Documents: Gather necessary documents like proof of identity, address, landholding/tenancy documentation, crop receipts (if available), income proof (if required), and passport-size photographs.

Step 3. Choose Loan Type: Decide on the specific loan type that best suits your needs, such as Crop Loan, Kisan Credit Card (KCC), Gold Loan for Crop Production, etc. Each type has different features and requirements.

Step 4. Visit Branch or Online Platform: Visit your nearest SBI branch or access the online application platform through the SBI website or YONO app. Some branches may still require physical form submission as well.

Step 5. Fill Application Form: Provide all the required information accurately in the application form. You might need assistance from branch officials if applying physically.

Step 6. Verification and Processing: SBI officials will verify your documents and landholding/tenancy details. This may involve field visits in some cases.Your loan application will be processed based on your eligibility and other factors.

Step 7. Loan Sanction and Disbursement: Upon approval, you will receive a formal sanction letter outlining the loan amount, interest rate, repayment schedule, and other terms.The loan amount will be disbursed to your nominated bank account.

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Frequently Asked Questions

Yes, SBI offers a variety of agricultural loans, including crop loans, Kisan Credit Cards, and gold loans for crop production.

Maximum amount for SBI agricultural loans varies, but can reach Rs. 10 crore for larger projects and businesses.

A construction equipment loan offers asset acquisition, working capital preservation, tax benefits, flexible repayments and more.

Choosing the "best" bank for agri loans depends on your specific needs, as each offers unique features and rates. But SBI, ICICI, and regional rural banks are strong contenders with diverse options and government initiatives.

KCC, or Kisan Credit Card, is SBI's flexible credit line for farmers, like a revolving credit card for crop expenses.

SBI agriculture loan rates start from 7% p.a., with potential subvention for timely repayments, but vary depending on loan type and size.

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