<aside> <img src="/icons/forward_red.svg" alt="/icons/forward_red.svg" width="40px" /> The State Bank of India (SBI) still charges lower interest rates than HDFC, but HDFC still manages to top the charts amongst private sector banks along with Punjab National Bank
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| Bank | Kisan Credit Card Interest Rate |
|---|---|
| State Bank of India’s Kisan Credit Card | Min 7% per annum |
| Punjab National Bank’s Kisan Credit Card | Min 7% per annum |
| Axis Bank’s Kisan Credit Card | 8.85% per annum (interest subvention provided) |
| HDFC Bank’s Kisan Credit Card | Min 9% per annum |
| Indian Overseas Bank’s Kisan Credit Card | 7% per annum (interest subvention provided) |
| UCO Bank’s Kisan Credit Card | 7% per annum (interest subvention provided) |
When it comes to Kisan Credit Card loans, it is worth mentioning that the State Bank of India is one of the largest issuers of KCC loans. 7% per annum is the Kisan Credit Card interest rate charged by the State Bank of India on an amount lower than ₹3 Lakhs.
Punjab National Bank is also one of the major public sector banks that offers Kisan Credit Card loans. It is quite easy to apply for a KCC loan via Punjab National Bank. A minimum KCC loan interest rate of 7% per annum is charged by the bank to farmers.
HDFC Bank, a major private bank, is also offering a Kisan Credit Card loan scheme to farmers. One can receive a minimum Kisan Credit Card interest rate of 9% per annum by availing a KCC loan from HDFC Bank.
A competitive KCC loan interest rate is offered by Axis Bank, as it provides interest subventions: you can get a Kisan Credit Card interest rate of up to 8.85% per annum.
The Kisan Credit Card interest rate for loans from IOB of up to ₹3 Lakhs is 7% per annum. This is only in case of loans with a tenure of 1 year from the sanction date or the renewal date.
A KCC loan interest rate subsidy of 3% per annum is available from the government of India for farmers who make prompt repayments. In the case of loans above ₹3 Lakhs, the interest rate is variable. Currently, it is equal to the one-year MCLR (Marginal Cost of Funds Based Lending Rate) plus 2.50%.
https://paisabazaar.com/credit-card/kisan-credit-card-in-india/
| Bank | Credit Limit | Interest Rate |
|---|---|---|
| State Bank of India | Based on the needs and crop production pattern of the farmer | Up to Rs. 3 Lakh – 7%Above Rs. 3 Lakh – As applicable from time to time |
| Axis Bank | Based upon land under cultivation, cropping pattern & scale of finance | Production credit- 10.70%Investment Credit- 13.30% |
| HDFC Bank | Based upon land under cultivation, cropping pattern & scale of finance | Average APR of 10.08% |
| Bank of India | Depends upon the type of crop, the area under cultivation and scale of finance | As applicable from time to time |