• Source:JND
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Kisan Credit Card:  The Kisan Credit Card Scheme (KCC Scheme) is being run by the Central Government to provide financial assistance to the farmers. Providing timely financial aid through banks for agricultural activities to farmers is the sole aim of the KCC scheme. Eligible farmers can take loans from the bank at very minimal interest rates through this credit card (Kisan Credit Card).

The Kisan Credit Card provides loans in case of an emergency need for agricultural purposes such as purchasing seeds, fertilizers, pesticides, or farming equipment. This credit card offers a loan of Rs 1.6 lakh to farmers without any collateral. Under the scheme, farmers can take a loan of up to Rs 3 lakh for 5 years.

Validity of KCC

The validity of the Kisan Credit Card is 5 years. All notified crops or notified areas under KCC loans are covered under crop insurance. There are about 7.5 crore Kisan Credit Card accounts in the country. KCC is provided by commercial banks, regional rural financial institutions, and state cooperative societies.

Interest rate on KCC

Farmers can take short-term loans of up to Rs 3 lakh in 5 years through the Kisan Credit Card (Loan for Farmers). Farmers get loans at an interest rate of 9 percent, but the government gives a subsidy of 2 percent on it. Therefore, the interest rate on it was 7 percent. However, if the farmer repays the loan on time, the government gives him another discount of 3 percent. In this way, only 4 percent interest has to be paid on the loan.

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Easy Steps to Apply for KCC

- Visit official site https://pmkisan.gov.in/.
- Download the Kisan Credit Card form here.
- Fill land details and other information asked in the form
- You need to give details if you have any other Kisan Credit Card from any other bank or branch.
- Submit the farm to the nearest bank branch

Document Needed for KCC KYC

For ID Proof Voter ID card, PAN card, Passport, Aadhar card, and Driving license can be used. While for address proof voter ID card, Passports, Aadhar cards, and Driving licenses are required.

Eligibility to get a loan under KCC

- Age limit 18 years to 75 years
- individual farmers who are owners/cultivators sharecroppers, tenant farmers
- Self-help groups of sharecroppers, farmers, tenant farmers, etc.
- Farmers who are involved in activities animal husbandry, fisheries, and poultry farm

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