SBI Farmers Credit Card
The new SBI card would provide 45 days credit to the farmers and a lower interest penalty will be levied on farmers who default on the credit period, unlike in case of usual credit cards
The SBI farmers credit card project has been initiated on a pilot basis in Gujarat, Rajasthan and Madhya Pradesh, and depending on the success of the pilot run, it will be launched nationally.
100 applications already received by SBI from Farmers.
Currently, under KCC, beneficiaries (farmers) maintain loan accounts with the banks and the lenders offer them debit cards against this account.
Benefits of New Farmers Credit Card
- lower Interest Penalty
- 45 day credit period policy
- 75 – 80 % limit could be for buying agricultural inputs.
- Currently available in Gujarat, Rajasthan and Madhya Pradesh.
Get more details on Best SBI Credit Cards
