Kisan Credit Card (KCC) is a specially designed credit card to provide credit facilities to farmers in India. The KCC scheme was launched in 1998 by the Government of India to provide flexible credit to farmers for their production and investment needs.
Here is a step-by-step guide on how to apply for a Kisan Credit Card:
- Gather Required Documents
To apply for a Kisan Credit Card, you need to produce the following documents:
- Identity proof (Aadhar card, Voter ID, PAN card, Passport)
- Address proof (Electricity bill, Water bill, Telephone bill)
- Land papers (Proof of ownership, size of the land)
- Income proof
- Approach the Bank for Kcc
The next step is to approach your nearest bank branch that offers the KCC scheme. You may also visit the official website of the bank to check the details of the scheme.
- Fill the Application Form for Kcc
The bank will provide you with the KCC application form. You need to fill in your personal and land details in the application form. You need to mention the purpose of taking the loan, the size of the land, and the crops grown.
- Choose the Type of kisan credit Card
There are two types of KCC cards - Crop Loan KCC and Investment KCC. You need to choose the type of card based on your needs. The Crop Loan KCC provides credit for crop production, while the Investment KCC provides credit for investment purposes.
- Submit the KCC Application Form
Submit the duly filled application form along with the required documents to the bank. The bank will verify your details and process your application.
- KCC Card Issuance
If your application is approved, the bank will issue you the KCC card. The KCC card can be used to withdraw cash or purchase farm-related inputs such as seeds, fertilizers, pesticides, and machinery.
- Kcc Repayment
The credit facility provided to farmers through KCC is a revolving credit facility, which means that the farmer can draw money as per their requirement, repay it and reuse it. The repayment is to be made within a year, but in exceptional cases, it can be extended up to three years.
Apply online for Kisan Credit Card | Apply for KCC Scheme 2023
In conclusion, the Kisan Credit Card is a beneficial scheme for farmers in India. It provides them with easy access to credit facilities, making it easier for them to carry out their agricultural activities. The KCC scheme also helps in increasing agricultural productivity and improving the standard of living of farmers in the country.
Eligibility For Kisan credit card Scheme
Eligibility criteria for the Kisan credit card (KCC) scheme, as it may vary from country to country. Here are some of the eligibility criteria required to apply for KCC:
- Applicant must be a farmer or cultivator who owns agricultural land, or a tenant who is engaged in farming activities.
- Applicant must have a good credit record and not have a history of non-payments or defaults.
- Applicant must have a savings account with the bank from which they intend to take the KCC loan.
- The minimum age requirement to apply for KCC is 18 years.
- The applicant should have a good repayment capacity and a stable source of income.
- The bank may require other documents such as land records, proof of identity, and address proof.
- It is advisable to check with your local bank or financial institution to know the specific eligibility criteria for the KCC scheme in your country.
Kisan Credit Card Scheme – Objective And Features
The Kisan Credit Card (KCC) scheme was launched in 1998 by the Government of India with the objective of providing affordable credit to farmers. The scheme aims to meet the credit requirements of farmers for their farming and non-farming activities, including allied activities such as animal husbandry and horticulture.
The KCC scheme is implemented by commercial banks, regional rural banks (RRBs), and cooperative banks. The credit limit under the KCC scheme is fixed based on the cropping pattern, scale of finance, and the cost of production. The scheme also provides a convenient and flexible repayment option to farmers.
The features of the KCC scheme are as follows:
- Credit Limit:
The credit limit is fixed based on the cropping pattern and scale of finance. The limit can be up to Rs. 3 lakh for farmers in need of more credit.
- Tenure:
The credit limit is sanctioned for one year and can be renewed every year. Farmers can avail of the credit facility as per their need and convenience.
- Interest:
The interest rate on KCC is very low compared to other loans. Farmers can avail credit at a nominal interest rate of 7% to 9% per annum.
- Insurance:
Under the KCC scheme, farmers are covered with insurance policies, which protect them from any financial loss due to death, disability, or crop failure.
- Flexibility:
The KCC scheme provides flexibility to the farmers in terms of utilization of credit. They can use the credit for various purposes such as purchasing seeds, fertilizers, pesticides, and other inputs required for farming.
- Repayment:
The KCC scheme provides flexible repayment options to farmers. The repayment period is one year, but farmers can extend it up to three years in case of crop failure.
In conclusion, the Kisan Credit Card Scheme has played a critical role in providing affordable credit to farmers across the country. The scheme's objective is to empower farmers by providing easy access to credit and financial security. The KCC scheme has helped in boosting agricultural production, increasing farmers' income, and improving their standard of living.
FAQ For KCC Scheme
Q: When was the Kisan Credit Card Scheme launched?
Ans: The kisan credit Card KCC scheme was launched in 1998 by the Government of India
Q: What is the interest rate in Kisan Credit Card
Ans: The interest rate on KCC is very low. Farmers can avail credit at a nominal interest rate of 7% to 9% per annum.
Q: what is the age limit for kisan credit card
Ans: The minimum age requirement to apply for KCC is 18 years.
Q: Required Documents for kisan credit card (KCC)
Ans: Identify proof, Address proof, Land records, Income proof etc.
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