Kisan Credit Card Loan, KCC Scheme, Kisan Credit Card Loan Scheme – The KCC scheme for farmers was launched under the National Bank for Agriculture and Rural Development, Government of India. Recently on 10th February 2020 a campaign has been started from next 15 days.
Credit cards will be made available to farmers under this campaign. Here you will be able to get detailed information about the scheme facility provided by the government to the farmers (Kisan) of the country. Scroll through the page to get information like what is Kisan Credit Card, how you can apply, purpose of the scheme, benefits, eligibility details etc.
| 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 details
The scheme caters to the financial requirement of the farmers during the planting and harvesting season. The KCC scheme makes the farmers self-reliant and they never stop their agricultural operations due to lack of financial support. This Kisan Credit Card will work as a credit card cum debit card. This KCC scheme for farmers was launched under National Bank for Agriculture and Rural Development
KCC Loan Interest Rate
The KCC loan facility has been introduced to meet the financial needs of the Indian farmers and also they are provided with a 3% subsidy on a credit limit of INR 3 Lakh. Loans under Kisan Credit Card will be given by many cooperative banks, public sector banks and regional rural banks in India and the top most banks providing KCC loans are SBI, ICICI, Axis Bank, Bank of India etc. It serves short term and long term loans as per the requirement of the farmers of India. KCC will work like a credit card cum debit card.
Kisan credit card credit limit
Income from agricultural sources determines the maximum Kisan Credit Card credit limit. In normal condition, the loan limit starts from Rs 25,000 for all farmers and the loan is available for a period of 3 years with an interest rate of 7% per annum.
Objective of KCC Loan Scheme
The objective of KCC scheme is to help the farmers of the country financially. KCC makes farmers self dependent and they never stop their agricultural operations due to lack of financial support.
Features of Kisan Credit Card Loan
- KCC loan is given for production of working capital along with requirements of farmer’s house, fisheries etc. for seed, fertilizer, post harvest, animal expenditure, other agricultural activities and maintenance.
- The farmer can take a short term loan up to Rs. 3 lakhs for 5 years.
- Loan up to Rs.160000/- without any guarantee. Earlier this limit was Rs. 100000/-.
- If the loan amount is more than 16000/- then the card holder has to mortgage his land to assure that the crop is good
- The interest rate of the loan is 7%. If the loan is repaid within one year then 3% interest is waived i.e. the actual interest will be 4%.
- 15 day KCC campaign has been started from 10 February 2020
- Under this campaign, farmers will be issued
- 14 crore farmers of the country will get benefit from this scheme.
- 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 the plan
- It is functioning as a credit cum debit card.
- Loan is available at concessional interest rate.
- Additional 3% p.a. subsidy on prompt repayment.
- flexible payment method
Register for Kisan Credit Card Loan
Interested applicants can apply for KCC in the nearest bank branch of any co-operative bank, public sector banks and regional rural banks in India and after verification of all documents the bank will sanction the credit as per the farmer’s income. One important point is that if the credit limit exceeds Rs.1,60,000/-, the cardholder has to submit his agricultural land papers as security to the bank.