Kisan Credit Card Yojana: Various types of schemes are being run by the government to benefit the farmers. Today we are talking about one such scheme of the government. The name of this scheme being implemented by the government for the farmers is Kisan Credit Card Yojana. If you are also a farmer and want to get more information about this scheme of the government and want to take advantage of it, then definitely watch our news today. Today we are providing you with all the information related to the project so that you do not face any problems in applying.
Kisan Credit Card Yojana launched for farmers
Kisan Credit Card Yojana is a scheme of the Government of India that aims to protect farmers in the unorganized sector from high interest rates usually charged by lenders such as moneylenders. Under this scheme, the interest rate for farmers can be as low as 2.00%. Also, the repayment period is based on the crop harvesting or business period for which the loan amount was taken. Under this scheme, farmers can take loans and use them for various farming activities.
Various Features of Kisan Credit Card Yojana
- The interest rate under this scheme can be as low as 2.00%.
- Loan amount up to Rs. 1.60 lakh is given without any security.
- Farmers also get the benefit of the crop insurance scheme.
- Insured up to Rs. 25,000 against other risks up to Rs. 50,000 on permanent disability and death.
- The repayment period is based on the crop harvested and the business period for which the loan is taken.
- A maximum loan amount of Rs. 3.00 lakh can be withdrawn under this scheme.
- Farmers receive high interest rates on savings in their Kisan Credit Card account.
- A simple interest rate is charged as long as the user makes prompt repayment. Otherwise compound interest rate is applicable.
Documents required for the Kisan Credit Card Scheme
- Identity proof
- Address proof
- Passport-size photograph of the applicant
- Duly filled and signed application form
- Other necessary documents required by the bank
How can you apply for the Kisan Credit Card Scheme
- To apply for the Kisan Credit Card Scheme, you need to visit the website of your preferred bank and go to their Kisan Credit Card section.
- Download and print the application form here.
- Now fill out the application form duly.
- The application and required documents need to be submitted to the nearest bank branch.
- The loan officer will share the required information with the applicant.
- The card will be sent as soon as the loan amount is approved.
- After receiving the KCC, the customer can use the credit card and fulfill their farming needs.