Kisan Credit Card: The Kisan Credit Card (KCC) scheme is a government initiative. KCC was launched in 1998 by the National Bank for Agriculture and Rural Development (NABARD).
Kisa Credit Card helps farmers to meet their agricultural requirements, fisheries and animal husbandry by providing them with loans for the short term and a credit limit to purchase equipment and cover other expenses.
Kisan Credit Card is valid for up to 3 years and the repayment is made once the harvest season is over. In KCC, collateral is not required for loans up to Rs 1.60 lakh. The insurance coverage for KCC scheme holders is up to Rs 50,000 in the case of permanent disability or death. A cover of Rs 25,000 is given in the case of other risks.
Kisan Credit Card: Banks which offer KCC scheme
There are many banks which offer the Kisan Credit Card schemes such as the State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank, and Central Bank of India, UCO Bank, Indian overseas, among others.
KCC Loan: Eligibility
- The borrower should be a minimum of 18 years of age and a maximum of 75 years
- The farmer is an owner-cultivator.
- People who belong to a group and are joint borrowers.
- The group has to be owner-cultivators.
- Sharecroppers, tenant farmers, or oral lessees are eligible for the KCC.
- Self-help groups (SHG) or joint liability groups (JLG) of sharecroppers, farmers, tenant farmers, etc.
- Farmers are involved in the production of crops or allied activities such as animal husbandry along with non-farm activities such as fishermen.
KCC Loan scheme: Documents required
- Duly filled-in and signed-in application form.
- Copy of identity proof such as an Aadhaar card, PAN card, Voter ID, driving licence, etc.
- Copy of address proof documents such as an Aadhaar card, PAN card, Voter ID, and driving licence.
- Land documents
- A passport-size photograph of the applicant.
- Other documents such as security PDC as requested by the issuing bank.
How to apply for Kisan Credit Card online
Step 1: Visit the website of the bank you wish to apply for the kisan credit card scheme.
Step 2: Now, click on the Kisan Credit Card.
Step 3: On clicking the option of ‘Apply’, the website will redirect you to the application page.
Step 4: Fill the form with the required details and click on ‘Submit’.
Step 5: On doing so, an application reference number will be sent.
Step 6: If you are eligible, the bank will get back to you for the further process within 3-4 working days.
Kisan Credit Card: Intrest rate