By using the Kisan Credit Card, farmers can get loans at low interest rates. For this, they will have to go to the bank and submit the documents given here. The government has run various schemes to help the farmers. Lakhs of farmers across India are also getting benefits from the support of these schemes. Kisan Credit Card Scheme is being run so that the farmers do not have to face financial problems during agriculture. Under the scheme, a loan facility is also being provided to the farmers.
For your information, let us tell you that earlier there was a provision to provide benefits under the scheme only to farmers doing farming. But, at present, farmers engaged in fish farming and animal husbandry are also being given benefits under this scheme. Apart from crop management, farmers can also take loans for dairy work and purchase pump sets, etc. Under this scheme, the government has made arrangements so that there is not much interest pressure on the farmers. Due to an increase in interest, the cost of farming also increases, due to which farmers get trapped in the burden of debt. To save the farmers from this, much less interest is charged on KCC than the regular loans of banks.
Farmers, if you want to take an agricultural loan at low interest, then you need to have identity proof such as a voter ID card, driver's license, Aadhar card, PAN card, etc. Along with this, it is also very important to have land documents and a passport-size photograph of the applicant.
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Kisan Credit Card will be issued to the farmers after submitting the certificate, photo, and filled application form to the bank. KCC will be issued within 15 days of submission of the application form.
The interest rate of a KCC loan ranges from two percent to an average of 4 percent.
KCC loan interest starts from two percent. On average it goes up to 4 percent. The interest rate also depends on how much time the farmers can repay the KCC loan. If the farmers pay within a short time, they can get a loan of up to Rs 3 lakh at a very easy rate of 4 percent. Along with this, farmers also get the benefit of insurance.