Kisan Credit Card (KCC) scheme was started by the government to save farmers from high-interest loans from moneylenders. A farmer can take a loan of Rs 3 lakh on KCC.
Farmers play a very important role in the country’s economy. Farmers sometimes have to take loans at high-interest rates to meet their agricultural needs. This increases the cost of agriculture. Seeing this problem of the farmers, the Kisan Credit Card (KCC) scheme was started by the Government of India in 1998. Its objective was to provide loans to the farmers of the country at affordable rates.
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The special thing about Kisan Credit Card (KCC) is that only 4 percent interest is given on it. Loan repayment on Kisan Credit Card is also very convenient and the installment starts after harvesting the crop.
Many types of loans are available on Kisan Credit Card
Through the Kisan Credit Card, the government’s effort is to raise the standard of living of the farmers. This loan can be taken for agriculture as well as crop, dairy, farm, poultry, and fish farming. According to the RBI website, farmers can take loans through KCC from any commercial bank, RRB, small finance bank, and cooperative bank.
Get a loan of up to three lakh
Through credit cards, farmers get loans up to three lakh rupees at very low interest. Loans taken on Kisan Credit Card can be for up to five years. In this, a two percent rebate is given by the government on the loan and if the farmer pays on time, then he is given an additional rebate of three percent.
Who can take a loan
Farmers who have cultivable land after that can apply for it. Along with this, a farmer taking a farm on a lease, Self Help Group (SHG), or Joint Liability Group (JLG) can also apply for this.
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Which documents are required?
A copy of the Aadhaar card, PAN card, and driving license will have to be attached to the application form. Along with this, your land documents, etc. will be required.
How to apply?
You can apply offline as well as online for KCC. To apply online, you have to visit the official website of any bank. Then you have to click on the option given for Kisan Credit Card. After this, you can apply by filling in the information online only. Please tell me, after applying online, it takes three to four days to process the application. Wherein, in offline you, can contact us by going to the branch.
