PM Kisan Credit Card (KCC) Scheme is a loan which is provided by the Mistry of Agriculture and Farmers’ Welfare, Government of India. This is a short term crop loans and also short terms loan of allied activities including animal husbandry, dairy, fisheries etc. according to notification provided by the RBI. The loan amount limit will be provided on finance considering of cropping pattern, Acreage and Scale of Finance (SOF).
PM Kisan Credit Card (KCC) is beneficial for the farmers as it interest rate is 2 % per annum. So the farmer who want loan can apply for this via online.
What is KCC or KisanCredit card scheme?
The KCC or Kisan Credit Card Scheme is a short-term loan which is provided in very law interest for the farmers or fisheries or other of India. This scheme aims to provide farmers with timely and adequate credit for their cultivation expenses when they needs. This card is implemented by the Ministry of Agriculture and Farmers Welfare, Government of India in association with NABARD & MANAGE.
Kisan Credit Card Covers short term credit requirements for cultivation of crops, post harvest expenses, produce marketing loan etc. You can apply for this scheme in any bank of India.
The interest rate of the Scheme is between 2%-4%. This Loan is a low interest rate loan which help the farmers to grow their business by the things they produce. It does not give the farmers pressure as it is easy to repay. Of course taking account the harvesting period the loan sanctioned.
This loan help the farmer to purchase seeds, fertilizers, pesticides what they need for the production.
Kisan Credit Card benefits
- The farmers can meet short term credit requirements for cultivation of crops.
- The loan will provide post-harvest expenses.
- The farmers who will eligible will issued a savings account with affordable interest rate.
- A loan of 3 lakh can be sanctioned
- It will also produce marketing loan
- Rescheduling loans and conversions will be permitted in case of any damage caused by natural calamity.
- The Card has a validity of 5 years
- The loan also avail for Consumption requirements of farmer households.
Who are eligible for Kisan Credit Card?
- Individual who are farmer, fisheries, husbandry, dairy etc. who are owner of cultivators.
- Tenant farmers, oral lessees & share croppers
- Self help groups of share croppers, farmers, tenant farmers etc.
- SHGs, JLGs and woman groups
Also read: Jan Samarth Loan Yojana 2024: Get Upto 10 Lakh loan without Guarantee
- How PM Kisan Credit Card can apply online
- First go through the website of any bank where you wish to apply Kisan Credit Card Scheme
- From the list of option, choose Kisan Credit Card Scheme.
- By clicking the option click on the apply button
- Fill in the form with the required all details and then click to submit
- After this lastly an application reference number will be sent by the bank. If you are eligible than bank will get you back for the further process with 3-4 working days
How PM KCC can apply offline
- For offline application go to the bank where you want to apply or download the application form from the website of the bank.
- Fill up the form and go to the bank for further process or you can go with the help of the bank representative.
FAQ
1.What is the Kisan credit card scheme?
Ans. Kisan Credit Card Scheme is a short-term loan which is provided in very law interest for the farmers or fisheries or other of India.
2.Who are eligible for Kisan Credit Card?
Ans. All the famers, fisheries, dairy, husbandry etc. are eligible for the Kisan Credit Card Scheme.
3. What is the interest rate of Kisan credit card?
Ans. Between 2%-4%.