State Bank of India Agriculture Gold Loan Interest Rate

Hi I am interested in having the details of the State bank of India’s Kisan Gold Card Scheme (KGC)?

[Rajkumar Agarwal]

KGC is a universally useful advance implied for addressing credit needs of agriculturists for profitable and utilization purposes. Utilization credits to meet household costs like Children's instruction, marriage, restorative costs and so forth will be incorporated to the degree of 20% of the cutoff.

Who are qualified?

Ranchers with amazing reimbursement record for at any rate recent years, new agriculturists with sizeable stores with our branches for a long time, great borrowers with different banks, who have shut records, are qualified for this advance.

Reason:

Credit authorized can be used for creation or buy of any gainful resources other than for buy of area, development of ranch house and buy of tractor and its frill.

Advance sum

Advance sum is altered on the premise of Five times the yearly ranch pay or half of the estimation of area (to be) sold as insurance security, whichever is less, with a most extreme of Rs. 10 lacs

Reports you have to give

Land records, other than that is now given to the bank, encumbrance authentications, if required.

Security

(an) Upto Rs 100000/ -

Hypothecation of benefits made.

(b) Above Rs 100000/ -

Hypothecation of benefits and home loan/Charge over area or whatever other substantial security

How would you reimburse:

Reimbursement will be in Quarterly/Half Yearly/Yearly portions relying upon the harvest of the products or the liquidity made by the agribusiness action attempted with a greatest of 6-7 years. In any case, the cutoff points benefited for setting up of Horticultural Orchards can be reimbursed over a time of 9 years from the date of approval.

The details of the rate of interest for the scheme has been attached in the below file

Rate of Interest Detail for Kisan Gold Card Scheme (KGC)