Hi, Friends welcome back to Needsofpublic.com In this article we have to discuss the Kissan Credit card scheme. The Government of India has introduced Kisan Credit Card for the farmers of the country to provide loans at affordable rates. Yes, the government of India offering The interest rate can be as low as 2.00% under this scheme. The Kisan Credit Card Scheme aims to provide rural farmers with loans for running agriculture and other subsidies through a one-way system, which will enable farmers to easily access up to Rs 3 Lakh rupees loan. In the wake of Corona, the central government has allocated Rs 20 lakh crore to provide loans to Kisan credit cardholders. 2 lakh crores in the package. Money is earmarked. Farmers are hopeful that they will be given a card with those who are engaged in fishing and animal husbandry with agricultural crops. Moreover, The repayment of The Kissan credit card is based on the marketing period or harvesting period of the crop for which the loan amount was taken.
Kissan Credit card Eligibility Criteria:
The loan facility is available to renters, own tenants, own tenant crop partners, lease growers, self-help groups, farmers, and farmers’ credit unions. The formers should be residents of India and they should be the residents of the bank operational area, The former who are either individual or joint borrowers of the land involved in forming are eligible for this scheme. Farmers should be eligible for a production credit of Rs.5,000 and above, and then he/she is entitled to a Kissab Credit Card.
Benefits of Kissan Credit card:
Formers will get low-interest rates can be low as 2% and the cardholder can take loan amount up to 3 lakh rupees. Also, formers can get Collateral free loans up to Rs. 1.60 lakh. The best thing is even insurance also coverage also provided. For Permanent Disability and Death, cardholders can get Up to Rs. 50,000 And for other risks cardholders can get Up to Rs. 25,000. The repayment of The Kissan credit card is based on the marketing period or harvesting period of the crop for which the loan amount was taken. If the cardholder makes prompt payment simple interest may charge. The term of the Kisan Credit Card is 5 years and the first-year loan is determined by determining the cardholder’s tenancy, the extent of various crops to be acquired, and the limit of lending per acre (as determined by the District Technical Committee).
Farmers who wish to obtain a Kisan card must first prove that they are farmers. – A residence confirmation letter should be provided. – Thirdly, the bank has been told to file an affidavit to clarify that no debt has been maintained. Address Proof: Voter ID, Aadhaar card, Passport, Driver’s License, Ration Card, Bank Account Statement, Job card issued by NREGA, Person of Indian Origin Card. Proof Of Identity: Voter’s ID, Overseas Citizen of India Card, Person of Indian Origin Card, Job card issued by NREGA, Letters issued by the UIDAI, PAN card, Aadhaar card, Driver’s License, Passport, Voter’s ID
Kisan Credit Card is issued by many public sector banks, cooperative banks, and rural banks in India. Some of them are – State Bank of India (SBI) – Bank of India (BOI) – India Development Bank of India (IDBI). You can also apply through online Please visit the preferred bank’s website and click on the Kisan credit card section and fill the necessary details and visit the nearest branch and submit the all required documents Then the bank loan officer will share all the information with the applicant. Then once the loan amount is approved applicant will get Kissan Credit Card through the post.