Kisan Credit Card
Through the Kisan Credit Card (KCC), loans worth Rs 1.6 lakh are being given to the needy farmers without any guarantee. At the same time, farmers can take loans up to Rs 5 lakh through this in 3 years. The interest rate in this card is also very low. How useful this card is proving for the farmers, it can be gauged from the fact that till now a total of 1.02 lakh crore loans have been distributed through it and 1.22 crore farmers have this card. According to the information given by the Finance Ministry, till August 17, 1.22 crore Kisan Credit Cards have been issued. Their debt limit is Rs 1,02,065 crore.
According to the statement, loans worth Rs 89,810 crore were sanctioned to 1.1 crore farmer credit holders till 24 July. That is, in less than 1 month, more than Rs 12,255 crore loan was sanctioned. At the same time, about 12 lakh new cards were issued. To provide relief to the agriculture sector due to the impact of COVID-19, a special campaign is being launched to provide concessional loans to farmers through the Kisan Credit Card. This will help in the revival of rural economy and accelerating agricultural activities.
How the interest on the loan is decided
Through the Kisan Credit Card, farmers can take a short-term loan of up to Rs 3 lakh in 5 years. Although the loan is available at the rate of 9 percent, the government gives a subsidy of 2 percent on it. In this sense, it was 7 percent. On the other hand, if the farmer returns this loan on time, then he gets a further rebate of 3 percent. That is, on this condition, he has to pay only 4 percent interest on the loan. That is, farmers have to pay 4 percent interest on the loan taken.
About Kisan Credit Card
Kisan Credit Card (KCC) is a very useful scheme for small farmers. Through this, loans worth Rs 1.6 lakh are being given to farmers without any guarantee. At the same time, farmers can take loans up to Rs 5 lakh through this in 3 years. The validity of the Kisan Credit Card is 5 years. The interest rate in this card is also very low at 4 percent per annum. But for this, it is necessary to open your account in PM farmer.
How to apply for a card
- For this, you must first go to the official site https://pmkisan.gov.in/.
- Download the Kisan Credit Card form here.
- You have to fill this form with the documents of your land, details of the crop.
- This information should also be given that you have not made any other Kisan Credit Card from any other bank or branch.
- Voter ID card / PAN card / Passport / Aadhar card / Driving license etc. can be given for ID proof.
- At the same time, for address proof, voters can give ID card/passport / Aadhaar card/driving license etc. details.
- Fill and submit the application, after which you will get the Kisan Credit Card from the concerned bank.
Where can I get this card?
KCC can be obtained from any Co-operative Bank, Regional Rural Bank (RRB).
This card can also be taken from SBI, BOI and IDBI Bank.
National Payments Corporation of India (NPCI) issues RuPay KCC.