In a bid to boost farmers’ income and facilitate agricultural ventures, the central government is championing schemes like the Kisan Credit Card (KCC).
Dive into the details to discover how farmers can access affordable loans for agricultural, animal husbandry, and fisheries-related enterprises.
Access to Affordable Loans for Farmers
Under the Kisan Credit Card (KCC) scheme, farmers gain access to low-interest loans, fostering growth in agriculture and allied sectors.
With interest rates starting at a mere 2% and averaging at 4%, the KCC scheme provides a financial cushion to farmers, offering flexibility in loan repayment based on harvesting periods.
Simple Application Process
Applying for the Kisan Credit Card is a straightforward process. Visit the official website of the respective bank, select the Kisan Card option, and fill in the necessary details.
Submission of documents such as passport-sized photos, address proof, Aadhar card, and PAN card is required.
The application process is completed by clicking ‘submit,’ with farmers receiving their Kisan Credit Cards within 15 days.
Vital Documents for Application
Prospective Kisan Credit Card applicants need to submit essential documents, including passport-sized photos, address proof, Aadhar card, and PAN card.
The applicant’s age must fall within the range of 18 to 75 years to be eligible for the scheme.
Understanding the Kisan Credit Card (KCC) Scheme
Initiated in 1998 by the National Bank for Agriculture and Rural Development (NABARD), the KCC Scheme aims to provide short-term loans to farmers.
Farmers availing themselves of KCC enjoy benefits such as low interest rates, flexible repayment options, insurance coverage, and additional perks like attractive interest rates on savings accounts, as well as smart cards and debit cards.
