PM Kisan Credit Card Online Apply: Kisan Credit Card loan was started in August 1998 as a useful hand for farmers of our country, by the Government of India! The goal of the Kisan Credit Card Yojana was to ensure that Indian farmers had affordable access to short-term loans! Farmers always need short term loans as they need money for crop cultivation, harvesting and maintenance of their fields! The KCC scheme has proved to be the most beneficial scheme for the farmers!
It was not uncommon that farmers had to depend on non-institutional money lenders for Kisan Credit Card Yojana! Taking loans from banks was a long and tedious process and thus the farmers relied on the local money lenders, who in turn exploited them with high interest rates (KCC)! Therefore, Kisan Credit Card loan was born! This allowed farmers to get quick loans with no hassle and great ease and less paperwork!
KCC Benefits & Features
- Farmers will be issued an ATM-cum-debit card for withdrawal of funds from ATMs other than KCC!
- This scheme (Kisan Credit Card Yojana) includes credit within credit limit and revolving credit facility for repayment! However, all payments must be made within 12 months!
- Every year, the issuing bank will review the loan and decide the validity of the existing Kisan Credit Card!
KCC Loan Apply Online Process
Applying for a KCC loan is very easy! Applicants can avail loans directly by contacting any branch of the bank with necessary documents. Farmers can also apply online for the Kisan Credit Card Yojana by visiting the website of the bank of their choice! All the subsidiary banks have the facility of KCC application on their website and applicants can use it!
- Individuals and joint owners of agricultural land are eligible to apply for KCC Loan!
- Tenants who have rented land for farming are also eligible for KCC!
- The land under consideration must be culturally active and produce a crop!
- The applicant will be between 18 and 60 years of age at the time of applying!
Documents required for KCC loan
Original documents are required to apply for Kisan Credit Card Yojana! However, the requirement of specific document depends on the internal guidelines of the bank issuing the loan! And is subject to change for various banks!
- KCC loan application form is duly filled and signed by the applicant.
- Identity cards like Aadhar card, PAN card, Voter ID card etc.
- Address proof specifies the current address of the applicant!
- Land ownership documents or rent agreements!
- Passport size photo!
Interest Rate And Credit Limit
It is up to the banks to decide the KCC loan interest rate! Which will be as per the Reserve Bank of India (RBI) guidelines! However, one can use the KCC interest rate calculator available on various bank websites to calculate the interest rate!
Therefore, KCC Loan Yojana (Kisan Credit Card Yojana) is a highly beneficial loan scheme for farmers in India! Hassle free disbursement and flexible repayment options are very convenient for farmers! And it ensures that farmers (Kisan Credit Card) can easily cultivate and harvest the crop! Farmers can use their loans to buy seeds and fertilizers!
