Originally posted on August 9, 2021 @ 3:07 pm
The Kisan Credit Card Scheme is a Government of India program that provides timely credit access for farmers. NABARD (National Bank for Agriculture and Rural Development) created the Kisan Credit Card (KCC), launched in 1998 to provide short-term formal credit for farmers.
KCC was established to meet the credit requirements of farmers in agriculture, fisheries, and animal husbandry. They were able to obtain short-term loans, and they also had access to credit for equipment purchases and other expenses.
KCC also exempts farmers from high-interest rates on regular loans. The interest rate for KCC is as low as 2.2%, and as high as 4%. This scheme allows farmers to repay their loans based on the harvesting period for the crop they are cultivating.
The Pradhan Mantri Kisan Sanman Nidhi Yojana has been linked to the PM Kisan Credit Card. Farmers can apply for a loan from KCC up to Rs.3 Lakh at a 4% interest rate. It is now easier for PM Kisan beneficiaries, to apply for KCC.
|Name of the Scheme||PM Kisan Yojana Credit card Yojana|
|KCC Card Validity||1 Year (with an option to extend more)|
|Yojana Purpose||A loan from Bank for agriculture purchases|
|Department||Department of Agriculture, Cooperation & Farmers Welfare, Ministry of Agriculture & Farmers Welfare|
|PM-Kisan Helpline No.||011-24300606, 155261|
pmkisan.gov.in KCC Form 2021 Kisan Credit Card Loan Apply Online. For PM Kisan Yojana Beneficiary, check PM KCC Loan Status, Interest rate, and Kisan credit card Registration form. The PM Kisan KCC loan form 2021 can now be accessed online at pmkisan.gov.in
Eligible farmers can now apply online for the Kisan Credit Card to be able to borrow money. This is one of the most innovative programs ever created by the Indian Government. It provides immediate assistance to eligible farmers during times of financial crisis. Many banks offer the PM Kisan Credit Card from 2021. You can also apply for KCC Registration via the pmkisan.gov.in official website. Below you will find information about the PM KCC Application form 2021 Status Check, Eligibility Rate, and Installments.
All beneficiary Farmers Bank Accounts will be able to receive PM Kisan 9th Kist transfers starting August 9, at 12:30 pm. If you have taken an Agri Loan for Agriculture through Kisan Credit Card, (KCCKisan credit cards), then you must inform the bank if you wish to take part in the Pradhan Mantri Fasal Yojana by July 24. Most states have set July 31 as the deadline.
Features and Benefits of Kisan Credit Card
- Credit is given to farmers for meeting their financial needs in agriculture and other related activities, as well as post-harvest expenses.
- For agricultural needs such as milk animals, pumps sets and so on, there is an investment credit.
- Farmers can get loans up to Rs.35,000.
- KCC scheme holders can get insurance coverage up to Rs.50,000 for permanent disability and death. In the event of any other risk, Rs 25,000 coverage is provided.
- A savings account will be opened for eligible farmers with an attractive interest rate, a smart card and a debit card in addition to the Kisan Credit Card.
- Flexible hassle-free repayment options.
- A single credit facility/term loan that can be used for all agricultural and ancillary needs.
- Assistance with the purchase of fertilizers, seeds, etc. As well as cash discounts offered by merchants/dealers.
- Credit can be obtained for up to three years. Repayments can be done once the harvest season is over.
- For loans up to Rs.1.60 crore, no collateral is required.
Charges and Interests on Kisan Credit Card
The KCC interest rate varies from one bank to the next, as does its credit limit. The interest rate on the KCC can range from 2% to 4%, with a median of 4%.
The government also offers subsidies and programs to farmers regarding the interest rate. These would be based on the credit history and repayment history of the cardholder.
Other fees and charges include processing fees, insurance premium (if any), land mortgage deed fees, etc. the bank is free to set these fees and charges.
Eligibility Criteria for Kisan Credit Card
- Each farmer must be an owner-cultivator.
- Members of a group who are joint borrowers. The group must have an owner-cultivator.
- The KCC is open to sharecroppers, tenant farmers, and an oral lessee.
- Self-help groups (SHG), or joint liability groups of farmers, tenants, and sharecroppers (JLG).
- Farmers involved in crop production or other allied activities, such as animal husbandry, along with other non-farm activities like fishing.
Eligible beneficiaries under this scheme are:
- Inland Fisheries and Aquaculture: SHGs, JLGs, women groups are all fish farmers. You must lease or own any activity that is related to fisheries in order to be a beneficiary. This includes leasing or owning a pond, open water body, tank or hatchery.
- Marine Fisheries: You must be a registered boat owner or must have any type of fishing vessel, and you have the required licenses or permissions to catch fish in estuaries or at sea.
- Poultry: Individual farmers, joint borrowers, SHGs and JLGs and tenant farmers of sheep and rabbits, goats and pigs. They have sheds that they own, rent, or lease.
- Dairy: Farmers, dairy farmers and SHGs who own, lease or rent sheds are all eligible.
Documents Required to Apply for KCC Loan Scheme
- Complete signed application form.
- Photocopy of identification proof, such as Aadhaar Card, PAN card or Voter ID, Driving License, etc.
- Resident Proof
- Land Documents
- Valid Mobile Number
- Passport Size Photo
The KCC Loan limit will be up to Rs. 1.60 lakh and you can extend up to Rs 3 lakhs. However, these limits vary from bank to bank.
Process of Applying for Kisan Credit Card
The application process for the Kisan credit card can be done online, as well as offline.
How to Apply for KCC Loan Online?
Only the eligible farmers will only Loan under this PM Kisan KCC Card Yojana. So before applying you have to check eligibility the criteria. Otherwise, your application form will be rejected.
- Visit the official website of the bank you wish to apply for the Kisan credit card scheme.
- From the list now choose the Kisan Credit Card.
- Then click on ‘Apply’, the website will redirect you to the application form page.
- Fill the form with the required details and click on Submit option.
- An application reference number will be sent to you.
- If you are eligible, the bank will get back to you for the further process within 3-4 working days.
How to Apply for KCC Loan Offline?
Offline applications can be made by visiting your nearest branch or downloading the application form directly from the bank’s website. With the representative of the bank, the applicant can start the application process. After all, formalities have been completed, the bank’s loan officer will assist the farmer with the loan amount.
How to Check PM Kisan KCC Loan Status?
In the section for farmers on the official website, there will be an option that checks PM Kisan KCC card loan status. You can check the status to see if the form was approved or denied. If the form is approved, it means that you have filled in all required information. You can also directly visit the bank to ask for the current status.
PM Kisan Samman Nidhi Scheme
The PM Kisan Samman Nidhi Scheme was launched by the Government of India. Under this scheme, all farmers can avail up to Rs.6,000 every year as their income support. This initiative was announced and curated during the 2019 Interim Union Budget of India.
The government has made it easier for farmers to access institutional credit after Budget 2020 was released. This is done by combining the Kisan Credit Card Scheme (KCC), and the Kisan Sammanidhi Scheme. All Kisan Samman Nidhi Scheme beneficiaries can now apply for a Kisan Credit Card.
How to Apply for Kisan Credit Card under PM Kisan Samman Nidhi Scheme?
- Fill a one-page form which is available on the website of all banks.
- You should fill in all your basic information like crops grown and other land details.
- You have to submit this form to the Common Service Centers (CSC) and they will transfer the forms to all banks.
Top Kisan Credit Cards by Banks
|Axis Kisan Credit Card||Up to Rs.2.50 lakh (in the form of a loan against the card)||Up to 1 year for cash credit Up to 7 years for term loans|
|BOI Kisan Credit Card||Up to 25% of the farmer’s estimated income (but not exceeding Rs.50,000)||12 months|
|SBI Kisan Credit Card||Based on the crop cultivation and cropping pattern||5 years|
|ICICI Kisan Credit Card||As per the bank’s terms and conditions in accordance with RBI guidelines||12 months|
|HDFC Kisan Credit Card||Credit limit of up to Rs.3 lakh||Credit period of 12 months.|
FAQ for Kisan Credit Card KCC
Q. Can I correct my KCC Form?
A. Yes, you can, by visiting your bank where you have applied.
Q. How much credit limit will I get with KCC?
A. It varies from bank to bank.
Q. What will be the interest rate on the KCC loan?
A. Varies on banks. The interest rate on the KCC can range from 2% to 4%, with a median of 4%.
Q. What is the validity period of the Kisan Credit Card?
A. This validity period varied from bank to bank. 1 year is the average validity that maximum bank provides.
Q. What is the age requirement in order to apply for a Kisan Credit Card?
A. You should be a minimum of 18 years of age and be a maximum age of 75 years. If you are a senior citizen, then it is mandatory to have a co-borrower who is a legal heir.