Farmers / SHG can fill Working Capital Demand Loan Application Form under Common COVID Emergency Credit Line (CCECL) Scheme at sbi.co.in. State Bank of India (SBI) has announced COVID-19 Relief Measures for agricultural and rural sector. As a part of it, Common Covid-19 Emergency Credit Line Scheme has been started to provide relief to agri borrowers, agri entrepreneurs and SHG Members to tide over the COVID 19 pandemic outbreak.
This Farmers / SHG Loan Apply Online Form will extend an additional credit facility to the eligible existing borrowers. This is done by ad-hoc facilities viz Common Covid 19 Emergency Credit Line for sustaining Agri-income generation activity. All existing KCC / ACC / ABAL / SHG ACC borrowers, all standard accounts including SMA 0 and SMA 1 accounts with risk grade of 0, 1, 2 are eligible for CCECL Scheme. However, SMA 2 are not eligible.
The SBIs new CCECL scheme will provide need based credit to meet the emergency needs for payment of Agri seasonal operations, allied Agri activities, farm maintenance, enhanced labor wages, transport, marketing expenses, breakdown of farm maintenance, incidental
expenses among others. It is essential for sustaining income generation activities of farmers as well as Self Help Groups.
Farmers / SHG Loan Application Form under SBI CCECL Scheme
People can directly download the farmers / SHG loan application form under Common COVID-19 Emergency Credit Line (CCECL) Scheme:-
Farmers / SHG Members Application for Working Capital Demand Loan
The farmers and SHG members apply online form for working capital demand loan under Common COVID Emergency Credit Line Scheme as a part of SBI COVID-19 relief measures will appear as below:-
Here applicants can enter their name, address, aadhar number, PM-KISAN SB A/c, mobile number, existing loan details (KCC / ACC / ABAL / SHG-ACC / SHG-TL), loan amount applied for, purpose and collateral security (if applicable) details. After filling in all the details in the Working Capital Demand Loan Application Form for farmers / SHG members, submit it at the nearby SBI bank branch.
List of Documents Required to Apply Online for CCECL Scheme
Here is the complete list of documents required to fill farmers / SHG working capital demand loan application form under CCECL Scheme:-
- For Self Help Groups (SHG) –
- Application for loan assistance
- Resolution for availing loan
- Bank Loan Passbook
- For KCC / ACC / OTHERS –
- Application form for loan with two photos
- ID Proof such as Aadhar Card
- Address Proof
- Bank Loan Passbook
Common COVID Emergency Credit Line (CCECL) Scheme Details
Here are the complete details of the Common COVID Emergency Credit Line (CCECL) Scheme to provide Working Capital Demand Loan for Farmers / SHG members:-
Maximum / Minimum Working Capital Demand Loan under CCECL Scheme
Here is the minimum and maximum working capital demand loan under CCECL scheme 2020:-
1) The maximum loan amount is 10% of the existing limit with max. cap is Rs. 2 crore.
2) For Self Help Group, Rs. 5,000 per member is the minimum amount.
There is no margin required under Common COVID-19 Emergency Credit Line (CCECL) Scheme. The scheme (CCECL) will be in force up to 30 June 2020. The draw-down facility will be permitted up to 31 July 2020 either in single tranche or maximum of three tranches.
Interest rate for CCECL Scheme
Currently, the interest rate applicable for CCECL Scheme is 7.40% per annum. 1- Year MCLR (Marginal Cost of Funds Lending Rate) to be reset after one year. The demand loan facility under CCECL Scheme is available for a maximum duration of 24 months (2 years).
Repayment Period for Loans under CCECL Scheme
The following is the repayment period for loans under CCECL Scheme 2020:-
- For existing KCC borrowers: shall coincide with repayment period of KCC (primary account) subject to maximum of 12 months.
- For existing ABAL /SHG borrowers: Repayable in 18 EMIS after a moratorium of 6 months from the date of disbursement.
There is no processing / inspection / prepayment / penal interest charges for loans availed under CCECL.
SBI Agricultural / Rural COVID-19 Relief Measures
Here are the direct links related to SBU COVID-19 Relief Measures for Agricultural / Rural sector:-
A) Frequently Asked Questions (FAQs) for Common COVID Emergency Credit Line (CCECL) Working Capital Demand Loan for Farmers / SHG Members – Click Here
B) Frequently Asked Questions (FAQs) for Common COVID Emergency Credit Line Financial Assistance to SHG Members (CCECL-SHG) – Click Here
C) Contact Details of Support Teams at LHO – Click Here
D) Visit the official Agricultural / Rural link at SBI website which can be accessed through the link – Click Here
For more details, visit the official SBI website at https://sbi.co.in/