Kisan Credit Card :The central government has approved the continuation of the rebate on interest on loans up to Rs 3 lakh for farming through Kisan Credit Card (KCC Scheme) during the current financial year. Under this scheme, farmers who repay their loans on time are given relief on interest. Kisan Credit Card Scheme is being run by the central government to provide financial assistance to farmers. The objective of this scheme is to provide timely financial facility from SBI or other banks to farmers for farming activities if needed.
Through this credit card (Kisan Credit Card), farmers can take loans from the bank at a very nominal interest rate. The government also gives the benefit of subsidy in interest rate and amount to the farmers who repay the loan on time. The advantage of this is that the farmer can take a loan through this as per the need and he does not need to go to any moneylender in the village.
How much loan is available for which work
Kisan Credit Card provides loan for farming activities in case of sudden need. Farmers can take loan from the bank for purchasing seeds, fertilizers, pesticides or farming equipment. Through this credit card, farmers are being given a loan of Rs 1.6 lakh without guarantee. At the same time, a loan of up to Rs 3 lakh can be taken through this for 5 years. The validity of Kisan Credit Card is 5 years. Notified crops / notified areas on all KCC loans are covered under crop insurance. The number of Kisan Credit Card accounts in the country is more than 7.5 crore. KCC is offered by commercial banks, regional rural financial institutions and state cooperative societies.
Only 4% interest on loan
Through Kisan Credit Card, farmers can take short term loan of up to Rs. 3 lakh in 5 years. Farmers get loan at the rate of 7%. But if the farmer returns this loan on time, then the government gives him an additional discount of 3%. In this way, only 4% interest has to be paid on the loan.
How to apply for credit card (How to Apply for KCC)
- First of all you have to visit the official website https://pmkisan.gov.in/.
- Download Kisan Credit Card form here.
- You will have to fill this form along with your land documents and crop details.
- You will also have to provide information that you have not got any other Kisan Credit Card made from any other bank or branch.
- Fill the application and submit it, after which you will get the Kisan Credit Card from the concerned bank.
These documents will be necessary (Documents for KCC)
For ID proof: Voter ID card/ PAN card/ Passport/ Aadhar card/ Driving License.
For address proof: Voter ID card / Passport/Aadhar card/Driving license.
Eligibility for the scheme (Eligibility for KCC)
- Age limit 18 years to 75 years
- Individual farmers who are owners/cultivators
- Sharecropper, Tenant Farmer
- Self help groups of sharecroppers, farmers, tenant farmers etc.
- Farmers who are involved in activities such as production of crops or animal husbandry
- Fishermen who own registered boats or any other type of fishing boat
- Those who have the necessary license or permission to fish
- poultry farmers
- dairy farmer
