KCC Card Scheme: The central government is running several schemes to empower farmers financially. One of the important schemes is the Kisan Credit Card (KCC). Under this scheme, farmers are provided with easy access to loans through credit cards for farming and related activities, so that lack of funds does not hinder their work.
Launch of the KCC Card Scheme
The Kisan Credit Card scheme was launched in 1998. Its objective was to provide financial assistance to farmers on time and on easy terms. Over time, several changes have been made to this scheme. In 2019, it was further expanded to include the working capital needs of agriculture-related activities such as animal husbandry, dairy farming, and fisheries.
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Loan Limit under the KCC Scheme
Under the government’s revised interest subvention scheme, banks are given an interest subsidy on short-term working capital loans up to Rs 3 lakh. The normal interest rate on this is 7% per annum. If the farmer repays the loan on time, he gets an additional discount of 3%. Thus, the effective interest rate for farmers is only 4%.
In the Union Budget 2025-26, the government made a major announcement, increasing the loan limit under KCC from Rs 3 lakh to Rs 5 lakh. Along with this, no processing fee is charged on loans up to Rs 3 lakh, which does not put any additional burden on the farmers.
Who can avail of a KCC card?
This scheme is for farmers who are engaged in farming or related activities. Small, marginal, and large farmers can all apply under this scheme. Farmers engaged in animal husbandry, dairy farming, and fisheries are also eligible, provided they meet the bank’s conditions.
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Documents Required for Application
Aadhar card is mandatory when applying for a Kisan Credit Card. Along with this, proof of identity, proof of address, land-related documents, passport-size photographs, and bank account details are required. The applicant also has to provide a self-declaration stating that he/she is not a defaulter of any other bank.
How to Apply
Applications for KCC can be made both online and offline. Online applications can be submitted through the fasalrin.gov.in or jansamarth.in portals. Farmers who do not wish to apply online can also apply directly by visiting their nearest bank branch.