State Bank of India introduced Kisan Gold card Scheme (KGC) to its customers. KGC is a general-purpose loan meant for meeting credit needs of farmers for productive and consumption purposes. Consumption loans to meet domestic expenses like Children's education, marriage, medical expenses etc will be included to the extent of 20% of the limit.
Purpose of loan:
Loan sanctioned can be utilized for creation or purchase of any productive assets other than for purchase of land, construction of farm house and purchase of tractor and its accessories.
Eligibility to avail KGC?
Farmers with excellent repayment record for at least past 2 years, new farmers with sizeable deposits with our branches for 2 years, good borrowers with other banks, who have closed accounts, are eligible for this loan.
KGC Loan amount
Loan amount is fixed on the basis of Five times the annual farm income or 50% of the value of land (to be) mortgaged as collateral security, whichever is less, with a maximum of Rs. 10 lacs
Documents need to provide to avail KGC loan
Land records, other than that is already given to the bank, encumbrance certificates, if required.
For more details click here
Purpose of loan:
Loan sanctioned can be utilized for creation or purchase of any productive assets other than for purchase of land, construction of farm house and purchase of tractor and its accessories.
Eligibility to avail KGC?
Farmers with excellent repayment record for at least past 2 years, new farmers with sizeable deposits with our branches for 2 years, good borrowers with other banks, who have closed accounts, are eligible for this loan.
KGC Loan amount
Loan amount is fixed on the basis of Five times the annual farm income or 50% of the value of land (to be) mortgaged as collateral security, whichever is less, with a maximum of Rs. 10 lacs
Documents need to provide to avail KGC loan
Land records, other than that is already given to the bank, encumbrance certificates, if required.
For more details click here