Kisan Credit Card: The central government is running various schemes to increase the income of farmers. One of these government schemes is Kisan Credit Card. Farmers are given interest at low rates through Kisan Credit Card.
Kisan Credit Card: The central government is running various schemes to increase the income of farmers. One of these government schemes is Kisan Credit Card. Interest is given to farmers at low rates through Kisan Credit Card. If you have not yet made Kisan Credit Card, then there is no need to worry. The Central Government has started a campaign named KCC Saturation Drive.
The bank will give them the card by 14th November
If farmers want to start any business related to animal husbandry, fisheries or farming, they can take loan under KCC. This is a short term loan. The KCC Saturation Drive campaign of the Central Government has started from 1st of October and it will continue till 31st October. You can apply for the card till 31st October. The bank will make the card and give it to them by 14th November.
Farmers get cheap loans under KCC
Under the KCC scheme, farmers are exempted from high interest rates on normal loans given by banks. Interest rates for KCC start as low as 2% and average at 4%, making it more affordable for farmers to repay their loans. The loan repayment period is also flexible. Which depends on the crop harvesting period for which the loan was given.
To apply for a Kisan Credit Card, farmers must fulfill certain criteria, such as being an owner-farmer, sharecropper, tenant farmer, or a member of a self-help group or joint liability group. They should also be involved in crop production or allied activities such as animal husbandry, or non-agricultural activities such as fishing.
What is Kisan Credit Card (KCC) Scheme?
KCC Scheme is a government initiative started by the National Bank for Agriculture and Rural Development (NABARD) in 1998, whose objective is to provide short term loans to farmers.
What are the benefits of using Kisan Credit Card?
The benefits of using Kisan Credit Card include low interest rates, flexible repayment options, insurance coverage, and other benefits like attractive interest rates on savings accounts and smart cards and debit cards.
