Through Kisan Credit Card (KCC), farmers are given loans at very cheap rates for agricultural work. Through this, a loan of up to Rs 3 lakh can be taken easily.
Kisan Credit Card:
Kisan Credit Card (KCC) is issued by the government to the farmers. Through KCC, farmers are given loans at very cheap rates for agricultural work. The usefulness of this card increased further during the Corona period, when even in times of crisis, farmers got easy loans for the works related to farming. Loan up to Rs 3 lakh can be taken in 5 years through Kisan Credit Card. At the same time, on paying it on time, there is a tremendous benefit of rebate in interest rates. The government has expanded the scope of KCC. Through this, farmers can take loans not only for agriculture, but also for other works. Know the details about this……
For what works get loan
Loan up to Rs 3 lakh is easily available through Kisan Credit Card. Through KCC, farmers can take loans at affordable rates for the purchase of agricultural commodities such as fertilizers, seeds, pesticides. The government has now earmarked some part of it for household expenses as well. That is, farmers can also take some loan through this for household expenses. The biggest advantage of this card is that poor farmers are getting relief from middlemen who give loans at high interest.
How can interest be 4 percent
First of all, the government gives 2 percent subsidy on the loan taken on Kisan Credit Card. On the other hand, if farmers repay their loans on time, they get a further rebate of 3 percent. It can be understood that according to the information given on the website of SBI
Loan of Rs 3 lakh is available at 7 per cent per annum interest. If the farmers return this loan on time, then they get 3 percent more rebate in it. In this way it becomes 4 percent. Let us tell here that some banks are giving loans at the rate of 2 percent, but the average interest rate is 4 percent.
Necessary documents
If you want to apply for Kisan Credit Card, then it is necessary to have an account in PM Kisan Samman Nidhi. For this, there should be one in Voter ID card / PAN card / Passport / Aadhar card / Driving license for ID proof. At the same time, voter ID card / passport / Aadhar card / driving license should be anything as an address proof.
How to apply
For KCC, visit the official site of PM Kisan https://pmkisan.gov.in/. Download Kisan Credit Card form here. The necessary information given in the form has to be filled. Submit by filling the application, after which you will get the Kisan Credit Card from the concerned bank. KCC can be availed from any co-operative bank, Regional Rural Bank (RRB). This card can also be taken from SBI, PNB, BOI and IDBI Bank.
