Kisan Credit Card Loan Scheme 2020
The farmers are very important part for our life. They are the backbone of the whole world for providing food and nourishment. The whole population depends on farmers for food whether Indian or Foreign. If we are surviving on this planet this is just because of them. They do hard work only for providing us food. But sometimes they beared heavy losses due to no rainfall, less rainfall and many other problems.
The greediness of the people is harming nature. And due to the disturbance in nature’s cycle many types types of losses faced by the people and specially farmers like no rainfall, disaster, cyclones, drought etc. From these types of problems the farmers are the only ones who faces heavy losses. They are not wealthy to beared and to recover the heavy losses. From these types of problems the condition of the farmers become more poorer.
For these types of circumstances, the Government are introducing a scheme named as Kisan Credit Card Loan Scheme. With the medium of this scheme the farmers will able to faces the heavy losses. They don’t need to be bothered anymore.
This scheme was established for the Indian farmers who works in the field to provide us food and from which they get money and earn livelihood. From this scheme of Government they are able to take loan to beared losses. It is unsecured loan which means they don’t have to put any security for this loan.
India which as known as developed and progressive country but due to some natural climatic conditions this development is decreasing. This scheme is launched by the Central Government of India in 1998.
The main purpose of this scheme to provide loan to the poor farmers and to make them able to beard heavy losses which they faces while farming.
The farmers needs financial help in the bad time of facing heavy losses due to climatic conditions and to purchase seeds for crops, new equipments, fertilizers, pesticides, expenses while selling crop in the market and when they don’t get best rates for their crops.
This scheme proves financial assistance for farmers. Under this scheme, for the farmers the loan is easily available for farming and agriculture. Under this scheme, the farmers will received Rs.1,00,000 as loan without any security. It is very easy way for borrowing money from the bank as loan.
It is a process in which the a certain amount of loan is provided to the farmers for financial assistance. This scheme contains best objects which help farmers in the period of crisis.
Kisan Credit Card objectives
Following objects of the Kisan Credit Card Loan Scheme. Here is informed you with details of the scheme-
- This provides farmers financial assistance on easy rates.
- This loan help in purchase the seeds and compost for crops.
- By loan facility farmers easily get expenses for selling their crops.
- Its give help to marginal and small farmers.
- Under this scheme they are get loan for agriculture vehicles as like tractors and and tools.
- Loan for buy agriculture land.
- By this card they are easily solve problems who related to their house and work.
Insurance under Kisan Credit Card Loan Scheme
- Death: Rs 50,000
- Disability: Rs 25000
- Maximum age: 70 years
Requirement Documents for Kisan Credit Card Loan Scheme
- Passport size photograph
- Address Proof
- Identity Proof
- Aadhaar Card
- Voter ID Card
- Pan Card
- Driving License
- Filled application form
- If your loan amount (Kisan Credit Card Limit) is high, then you may have to mortgage your land with the bank. You may have to hypothecate your crop as well.
Kisan Credit Card interest rate in Kisan Credit Card Loan Scheme
The interest rates of Kisan Credit Card (KCC) depends on the lending banks. There are two types of loan available under KCC:-
- Short term loan
- Long term loan
The interest rate of KCC loan also depends on which of these loans you are taking.
You have to pay the interest on the amount you withdraw or spend through the Kisan Credit Card (KCC).
The KCC interest rates charged by the main banks are as follows:
|Bank||Short Term Loan||Long Term Loan|
|Axis Bank||8.85% – 13.10%||8.85% – 14.10%|
|PNB (Punjab National Bank)*||7%||बेस रेट + 2%|
|State Bank of India||7% – 13.30%||11.30% – 16.55%|
|Bank of Baroda||7% – 10.9%||11.65% से शुरू|
Benefits of Kisan Credit Card Loan Scheme
- There is no need to apply for loan for each crop
- To reduce the interest burden for farmers.
- Helps purchase seeds, fertilizers at the convenience and choice of the farmer
- Helps buy discounts on cash benefits from dealers
- Easy Cash Out
- Reduce interest burden for the farmer at any time.
- Any farmer can take a loan with a credit card
- Anyone can easily understand a credit card.
- No one can refuse to give loan to whoever has a farmer credit card.
- Kisan Credit Card can take loan in every bank.
Eligibility for Kisan Credit Card Loan Scheme
- Farmers can apply for credit card, all those farmers who are in agricultural production in their own farm or doing agriculture work in any other field or are associated with any kind of crop production.
- All farmers – single / joint borrowers who are owned farmers.
- Rent tenant, tongue tenant and common farmer etc.
- Self-help group or joint liability group farmers including rent tenants, joint farmers etc.
Online application for Kisan Credit Card
There are some banks in the banks which are lending loans under the Kisan Credit Card (KCC) scheme which also take online application for the construction Kisan Credit Card (KCC). Follow the steps which are given below to apply online for KCC :-
- Firstly, visit the Bank’s website.
- Select the Kisan Credit Card from the list of cards given on type website and click on apply button.
- From there, Kisan Credit Card (KCC) online application page will open in front of you.
- After this, submit all the necessary information in the form after filling it.
- On filling the form, you will get the application reference number on your e-mail and the given phone number.
- This number is used in the KCC related to your bank.
Offline application for Kisan Credit Card
To apply for Kisan Credit Card (KCC) offline, you have to go to the nearest branch of your bank and fill the KCC application form and submit it along with the necessary documents.After this, the bank passes your loan after investigation.