KCC: Farmers can take a loan of Rs 3 lakh from this government scheme without any mortgage, the interest is also very low...
Kisan Credit Card: To ensure that capital is available to the farmers of the country for their farming needs, the government runs the Kisan Credit Card Scheme. Under this scheme, short-term tenure loans are given to the farmers, so that they can buy the equipment necessary for farming and meet other expenses.
One advantage of this is that the farmers do not have to pay much interest on the loan they get under this scheme, they get the loan at a much lower interest. We are telling you what is Kisan Credit Card, what are its benefits and how can you apply for it.
What is a Kisan Credit Card? (What is a Credit Card)-
Kisan Credit Card Scheme is a government scheme that was created in 1998 to provide extra credit to farmers. It was started by NABARD (National Bank for Agriculture and Rural Development). Now it has been linked to the Prime Minister Kisan Samman Nidhi Yojana. Now beneficiaries of PM Kisan can also apply for this.
Benefits of Kisan Credit Card (Features and Benefits of Kisan Credit Card)-
Under this scheme, farmers get loans up to Rs 3 lakh at a 4% interest rate.
KCC holder gets coverage of up to Rs 50,000 in case of death or permanent disability, and up to Rs 25,000 in case of second risk.
Eligible farmers are given a savings account along with a Kisan Credit Card, on which they get interest at good rates, along with this they also get smart cards and debit cards.
There is a lot of flexibility to repay the loan also. Loan disbursement is also done quite easily.
This credit remains with them for 3 years, farmers can repay their loan after harvesting the crop.
The best thing is that farmers will not have to pay any collateral on loans up to Rs 1.60 lakh.
Who can apply for a Kisan Credit Card? (Who can apply for a Kisan Credit Card)-
No separate category has been created for this. If you own land and are farming, then all farmers can apply for a Kisan Credit Card to take a loan under this scheme.
Farmers doing share farming can also apply for this. Lease farmers can also get loans under this.
Yes, there is definitely a rule regarding age. The minimum age to apply for Kisan Credit Card is 18 years and the maximum age is 75 years.
Where to get a Kisan Credit Card?
Regional Rural Bank
National Payments Corporation of India
State Bank of India
Bank of India
Industrial Development Bank of India
Documents required for making Kisan Credit Card (Documents for Kisan Credit Card)-
completed application form
Identity Card- In this, you can give anything like a PAN Card, Passport, Aadhar Card, or Driving License.
Address proof, in this also you can give a PAN card, Aadhar card, Voter ID, or driver's license.
passport size photo
The bank may also ask for some more documents.
How can one apply for a Kisan Credit Card? (How to apply for a Kisan Credit Card?)-
The process of applying for a Kisan Credit Card is very easy. You can adopt both online and offline methods for this.
Online Process (Kisan Credit Card Online Application)-
Go to the online website of the bank to which you want to apply.
In this, among all the options you will see above, choose the option of Kisan Credit Card.
After clicking on the 'Apply' option, the application form page will open.
Here you have to fill in all your details and click on 'Submit'.
A reference number will be sent to you by the bank.
If you are eligible, you will be contacted by the bank in 3-4 days.
Offline Process (Kisan Credit Card Offline Application)-
You can directly go to the bank to submit an offline application. You will get the application form right here. Or you can download the form from the site in advance, fill it and submit it to the bank. For this, you can take the help of the employees in the bank. You will have to submit all the documents along with the form. After verifying your details, the bank will sanction your loan.
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