Kisan Credit Card Loan (KCC)- Application Form & Benefits

The KCC yojana for farmers was started under the National Bank for Agriculture & Rural Development, Government of India. Recently on 10th February 2020, a campaign has been started from the next 15 days. Under this campaign credit cards will provide to the farmers. Here you will be able to grab the detailed information about the Scheme facility provided by the government to the farmers (Kisan) of the country. Scroll the page to grab the information such as what the Kisan Credit Card is, how you can apply, the objective of the scheme, benefits, eligibility details etc.

Kisan Credit Card

Kisan Credit Card Detail

This Scheme fulfils the financial requirement of the Farmers during the planting and harvesting season. The KCC Scheme makes the farmers self depended and they never stop their agricultural works due to lack of financial support. This Kisan Credit card will work as Credit Card cum Debit card. This KCC yojana for farmers was started under the National Bank for Agriculture & Rural Development

KCC Loan Interest Rate

KCC Loan facility has been started for fulfilment the financial needs of the Indian farmers and as well as provides them with the 3% subsidy on the Credit limit of INR 3 Lakh. Loan under Kisan Credit Card will be given by many cooperative banks, public sector banks, and regional rural banks of India and top most banks which provide the KCC Loans are SBI, ICICI, AXIS Bank, Bank of India etc. This serves the short term and long term loans as per the requirement of the Farmers of India. KCC will work like credit card cum debit card.

Brief Summary of Kisan Credit Card

Scheme Name Kisan Credit Card scheme
Launched by National Bank for Agriculture & Rural Development (NABARD)
Date of Apply No Last Date
Category Central Govt. Scheme
Objective To provide credit at subsidy

Kisan Credit Card Credit Limit

Income from agricultural sources determines the maximum Kisan Credit Card Credit limit. In the normal condition, the credit limit for all the farmers’ starts from INR 25,000 and the credit is available for a period of 3 years with an interest rate of 7% per annum.

Objective of KCC Loan Scheme

The KCC Scheme objective is to support the farmers of the country financially. KCC makes the farmers self-dependent and they never stop their agriculture works due to lack of financial support.

Features of Kisan Credit Card Loan

  • KCC loan is offered for expenses such as seeds, fertilizers, post-harvest, animal expenses, other agricultural related activities and for maintenance, production of working capital along with requirements of farmer’s house, fisheries etc.
  • Kisan can take short term loan up to Rs. 3 Lakh rupees for 5 years.
  • Loan up to Rs. 160000/- without any guarantee. Previously this limit was Rs. 100000/-.
  • If the loan amount is more than 160000/- then the card holder have to hold his land hostage and assure that the crop is good
  • The interest rate of the loan is 7%. If the repayment of the loan is within one year then 3% interest is waived that means actual interest charged will be 4%.
  •  15 days KCC campaign has been started from 10th February 2020
  • Under this campaign will issue to the farmers
  • This scheme will provide benefits to the 14 crore farmers of the country
  • KCC holder will also get Personal accident insurance cover

 Eligibility

  • All farmers of the country
  • Tenant farmers, oral lessees and sharecroppers
  • Aadhar Card
  • Pan Card
  • Address proof

Benefits of Scheme

  • it is working as a Credit cum Debit card.
  • Credit is available at the subsidized interest rate.
  • Extra 3% p.a. subsidy on prompts Repayment.
  • Flexible Payment Method

How to Register For Kisan Credit Card Loan

The interested applicants may apply for the KCC at the nearest bank branch of any cooperative banks, public sector banks, and regional rural banks of India and after the verification of all documents bank will sanction the Credit according to the Income of the Farmer. The one important thing is that If the credit limits is above from Rs.1, 60,000/-, then the cardholder has to submit his agriculture land papers as security in the bank.

Important links
Apply for Kisan Credit Card Contact to the nearest branch of the bank
Central Govt. Scheme Click Here

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