Kisan Credit Card (KCC) Indian farmers and unorganized sector in order to avoid borrowing money at high interest rates launch has been had.
Farmers need when on loan move may have. Put the interest of the dynamic is , that means is that if the client time to pay you to do them at the interest rate charged is is. Credit cards of other information under the went to.
Kisan Credit Card Loan Objectives and Features
Kisan credit card loans (Kisan Credit Card Loan) the main reason farmers to reduce interest rates on loans available to it. The plan from before , farmers had them on trust be , who the interest of more rate were provided on loans and fixed date on the crowd to pay. Due to this farmers have to face many problems . Do so , especially since when they disaster to face to so as that hail rain , drought , etc.
On the other hand , the farmer credit cards low interest rate loans provide you are , pay the easy terms of providing the a. In addition , crop insurance and security – Free insurance is also the user to provide the as is. Farmers credit card loans scheme of details are :
- Loans on the go with interest rate 2.00% to less than a can of
- Banks will not ask for security / security on loans up to Rs 1.60 lakh
- Various disasters of against crop insurance coverage users have been known to
- Farmers of permanent disability , death, when the insurance coverage provided by is is , farmers to other risks also offers made are to
- Payment term crop to harvest and its trading period of the basis on certain of which are
The maximum loan amount that can be availed by the card holder is Rs.3.00 lakh. - Farmers who own money farmers credit card account in the deposit to have , to a high rate of interest will
- Prompt payment to the farmers from simple interest rate charged is the
- Compound interest is charged in case the cardholders fail to make timely payments
Eligibility for Kisan Credit Card Loan
Farmers Credit card loans (Kisan Credit Card Loan) ] the people to provide the known is that agriculture , associated with activities or other non – farming activities in the engaged the are. Farmers credit card loans to to qualify to the to the terms of the following are :
- Minimum Age – 18 Years
- Maximum Age – 75 Years
- If the applicant senior citizens (60 years and over age ) is , if a co – applicant must have the co – applicant is a legal successor to be
- All Farmers – Individual / Joint Farmer , Proprietor
- tenant farmers , oral lessees , and sharecroppers etc.
- SHGs or Joint Liability Groups including tenant farmers
Documents Required for Kisan Credit Card Loan
Applications to fill the time, the following documents to submit to be :
filled application form
- Identified so that evidence voter identification card / PAN card / passport / base card / driving license , etc.
- Know that evidence- voter identity card / passport / Aadhaar card / driving license , etc.
land documents
How to apply and use Kisan Credit Card Loan
Loan taking and the use of the methods are :
kisan credit card loan application
- Like the Bank to visit the farmer credit cards give am is. If Bank KCC online application to allow class is so it downloads in
- Application Form Fill and loan officers to have deposited in
- All factors to consider to the following loan officer Kisan credit card loan limit set will and loan amount 1 6 0 million and more to be on security will be sought
- Farmers in the process of being completed the following their farmers credit card will
kisan credit card loan usage
A time when customer to your credit card to get used to , so they immediately it used cash withdrawals or direct purchase to the order to start up can have. Some banks Czech book also continues to have.
The customer has to ensure that they pay the amount promptly. This will ensure that only simple interest is applicable on the loan and not compound interest. If simple interest is applied then the farmer will have to pay less as compared to compound interest.
Top Banks Offering Kisan Credit Card in India
Top bank and with as many local banks its users the farmer credit cards provide to you. Them with some down on the can.
Indian state bank – the State Bank Kisan credit card offers to be the largest bank in the A ‘s. SBI KCC to put the interest of 3.00 million rupees to the loan amount on a per year 2.00% to as low.
Punjab National Bank – PNB KCC the most requested credit cards in the A ‘s. The application process is quite easy to do and user prompt delivery process of the expected tax can have.
HDFC Bank – HDFC Bank Kisan credit card approximately 9.00% of the interest rate on loans provided to you. Offers of went the maximum credit limit of 3.00 million rupees is. 25,000 bucks of credit limits by Czech book also continues to went to. In addition , if a farmer crop damage is The victim is , so to 4 years or less than the time to find may have. Natural disasters or insects to attack the cause of crop damage due to insurance coverage is also provided to ensure that.
Axis Bank – Axis Bank Kisan Credit Card interest rate provided they are between 8.85% to start with is. However , they state under schemes to suit this low interest rate on loans provided to you.
In addition, other banks also are offering farmers credit card provided to you. These are :
Orissa Rural Bank and Bangia Rural Development Bank, etc.
Moratorium on KCC Loan Repayment
Covid -19 epidemic in the country for people of normal life to be interrupted by the is. Economy to interrupt the view of the Indian Reserve Bank by financial institutions , banks and NBFC to its customers loan payment EMI 3 is allowed to postpone / delay for months. It features all the loan account of to have.
Important point to note
Qualification – no one whose repayment date L Marc 2020 and 3l Marc 2020 the middle is.
Application How to – moratorium period is to apply to the to the customer to the bank of contacts in living will. However , some banks automatically the loan account on the moratorium period to implement the will if the customer L Marc 2020 by 3l Marc 2020 of the pay freeze gives the
In what the loan payment to cover the expected is – it features the following payments on valid is :
- Principal amount and / or interest
- Bullet rearranged payment
- Equal monthly installments (EMI)
- Credit card statement
Moratorium period – only three months of the moratorium period, Lee can be is. The advice given is that the customer interest payment to avoid the for your loan to pay fixed date on the.
Auto – pay off in – moratorium period of profit taking the plan made to customers and it sure to be that he paid for to the bank in a given permanent instructions to stop by is.
Do you Moratoriam period of for applications to be ?
Depending does is , if the lockdown did not affect much on economic and Keep You can continue to pay an EMI of your loan, continue paying it. Because during the moratorium period your EMI is deferred/deferred but during that time interest on your loan will continue to accrue. In this way, you have to pay more interest for availing the moratorium.
However , if the loan is not in a position to pay the EMI so Moratoriam of to apply to.
