The Kisan Credit Card scheme is providing credit card to farmers. This scheme is introducing in 1998 August by Indian Bank.The model of the scheme is prepared by the National Bank for Agriculture and Rural Development. Its recommendation ted by R.V. Gupta provide term loan agriculture need. Its provided by financial department.
Longer Repayment Period for Kisan Credit Card Loan-( What is a crop loan? )
Most of the banks in India offer to farmers for credit cards. Loans are looking a longer repayment period or farmers. This is suggested as the agriculture sectors is under significance pressure. Cycle of providing credit card is under this scheme. Proposed of the scheme is increase to 36 or 48 month from the 12 month. The state level bankers consultancy meet in West Bengal.
The bank have also proposed that the farmers should allow extra loan even after failing to repay the previous loan. They should service the interest. Public sector banks start 3 stages consultancy process its basis of the directions passed by the department of financial services.
The main process of the scheme discuss all financial issues of farmers and how to help their and what is included in this scheme of process and much more.
Credit card offered agriculture sectors and rural banking and financial banking and digital banking and direct transfer of benefits and education loans.
Insurance under KCC
- Death: Rs 50,000
- Disability: Rs 25000
- Maximum age: 70 years
The Kisan Credit Card provides free Insurance to farmers. Farmers will receive rs. 50,000 is the event of the death. Rs. 25,000 for accidents resulting in disability. Payable amount is decide by the bankers and insurance providers.
Documents for Kisan Credit Card
As per the Reserve Bank of India is provide a guideline. Under this scheme following documents are required of applicant for get this benefit by farmers. Documents are-
- Passport Size Photograph of applicant
- Address Proof
- Identity Proof
- Aadhaar Card
- Voter ID Card
- PAN Card
- Driving License
- Filled application form
- Land documents
Benefits of Kisan Credit Card
- Flexible repayment option & hassle free disbursement procedure. You can be repayment of your credit card by every way as like online and offline and cash and debit card.
- Fund withdrawn from any bank branches across the country. Its amount of your credit card limit and farmer is transfer any branches of bank in all over country.
- Credit available period up to 3 years. Repayment is once and it over when the harvest season in over. 3 years is maximum period for repayment.
- Withdrawn your fund from credit card issuing bank. Its flexible because farmers any time according to need using this card.
- Assistance of the card is farmer easily purchase seeds and fertilizer etc. Its give profit and discount and cash back offers etc.
- Single credit card is provide facility to all agriculture workers in short time and when they are requirement of finance.
Interest & Other Charges of Kisan Credit Card
- According to the Reserve Bank of India interest rate and other charges are allow on credit card. Interest rates as well as set by the credit card issuing bank. Farmers are issue their credit card any government bank as like SBI, HDFC etc. The average limit of Kisan Credit Card is 9% to 14%. Rate of interest is depend on banks and their policy with this.
- There are certain subsidies and schemes government offer to farmers with another policies and interest rate. This offer are depend on history of credit cardholder. Under this history included all of uses and repayment of credit cards etc.
- Another fees and charges of Kisan Credit Card is processing fees, insurance premium (if applicable by farmers), land mortgage deed charges etc. Its all are set all rules by credit card issuing bank.
Eligibility for Kisan Credit Card
You can check your eligibility for Kisan Credit Card Scheme-
- A individual farmer who owner of cultivator and harvest.
- A firmer who belong from a cultivator group and borrow land group from owner cultivator.
- Sharecropper, tenant farmer and oral lessee.
- Self Help Group (SHG) of sharecropper, tenant farmer and farmer etc.
- Joint Help Grout[p (JLG) of sharecropper, tenant farmer and farmer etc.
Eligible beneficiaries under this scheme under fisheries and animal husbandry are-
- Dairy– farmers and dairy farmers JLG and SHG and tenant farmers and who owner and who lease and who rent sheds.
- Poultry- sheep, rabbit, goat, cow, pig, bird and poultry are rented and owner and lease.. Joint borrower and individual farmers, SHG and JLG and tenant and farmers are eligible who is earn money by this work.
- Marine fisheries- Own registered boat and any other type of fishing. He have a permission and license for fisheries. Its legal process for this work.
- Inland Fisheries and Aquaculture – fish farmers and women as a beneficiaries own or lease any related activity related to fisheries. Under this included lease and own ponds and open water body and tank and others.
Applying Procedure for Kisan Credit Card Scheme
Some banks are offering Kisan Credit Card. Apply online and through documents on official website. In below side mention steps for Kisan Credit Card. Following steps are help for-
- Firstly visit on the official website of bank
- Choose ‘Kisan Credit Card’ form the available list of credit cards
- Click on apply option
- On this register page fill up your all correct details before clicking on submit
- Submit your form Its generate application register number for in future quarries.
After his process bank start their process for the application. After they are call you under 3-5 days for verification and complete required process included all detail and documents. Banks are clear all doubts by verification after send your credit card to your registered address.
Kisan Credit Card offers According to Banks
|Bank||Credit Limit||Maximum Tenure||Insurance Coverage|
|Axis Bank||Up to Rs.250 lakh (in the form of a loan against the card)||5 years||Up to Rs.50,000|
|Bank of India||Up to 25% of the farmer’s estimated income (but not exceeding Rs.50,000)||5 years||N/A|
|State Bank of India||Based on the crop cultivation and cropping pattern||5 years||Personal Accident Insurance Scheme (PAIS), asset insurance and crop insurance|
The Kisan Credit Card offered by Government banks of India. Its provide to farmers as finance facility a credit card. Its offered by all public sector banks-
- Industrial Development Bank of India (IDBI)
- State Bank Of India (SBI)
- Cooperative Banks
- National Payment Corporation of India (NPCI)
- National Bank for Agriculture and Rural Development (NABARD)
These are just few banks who offering Kisan Credit Card. Farmers are apply in any public sector bank.
- What is a KCC loan?
- What is a crop loan?
- What is the validity period of the Kisan Credit Card?
- How can I get a farm loan?
- What is the interest rate applicable on the Kisan Credit Card?
- How does a bank determine the credit limit on a Kisan Credit Card?
- Is revolving credit facility available on a Kisan Credit Card?
- What security should be provided at the time of application?
- How do I check my KCC account balance?
- How many types of agricultural loans are there?
- What is the scale of finance in KCC?