If you are also struggling with a lack of funds for farming, then there is some good news for you. The government’s Kisan Credit Card Scheme has brought a golden opportunity for you. Under this KCC scheme, you can easily take a loan of up to ₹ 5 lakh at a low interest rate. This scheme is designed to free farmers from the clutches of moneylenders and to meet their farming-related needs on time. Let us know how to get a Kisan Credit Card and how to take advantage of it.
What is the Kisan Credit Card Scheme?
This scheme is being run with the aim of giving loans to farmers for a short time. Earlier, its limit was ₹ 3 lakh, which the government has increased to ₹ 5 lakh. In this, ₹ 3 lakh is given for crop production and ₹ 2 lakh for other works related to farming. Under this scheme, farmers can get a loan at an interest rate of only 4%. The government gives a subsidy of 2% out of the basic interest rate of 7% and a timely payment bonus of 3%, which makes the interest rate very low.
Who is eligible to get KCC?
Any eligible farmer can apply to avail themselves of this scheme. Its eligibility conditions are as follows:
Small and marginal farmers
Landless agricultural laborers
People engaged in animal husbandry, fisheries, silk farming, horticulture, or the dairy business.
Self-Help Groups (SHG) and Joint Liability Groups (JLG)
Documents required for KCC
You will need some important documents to get a Kisan Credit Card. Keeping them ready will make your application process much easier.
Aadhaar card, voter ID, or PAN card (for proof of identity and address).
Passport-size photo.
Land-related documents or a lease contract (if the land is on rent).
Bank passbook.
How to apply online for the Kisan Credit Card
The easiest way to get a Kisan Loan is to apply online. You can apply by visiting the official website of any bank of your choice.
First of all, go to the official website of the bank of your choice (like SBI, PNB, HDFC, etc.).
On the home page, find the option of ‘Kisan Credit Card’ or ‘Kisan Credit Card’ and click on it.
After this, click on the ‘Apply Now’ button.
A new page will open where you have to fill in the name, address, and important information related to farming.
Fill in all the information and click on ‘Submit’.
After the form is submitted, you will get an Application Reference Number.
If you are found eligible, the bank will contact you within 5 working days.