Apart from ‘Kisan Samman Nidhi’, loans are also provided by the government at cheaper rates to improve the economic health of the farmers. Kisan Credit Card (KCC), the farmers easily get a loan for farming as per the need. If you are a farmer then you can take advantage of the KCC scheme.
These documents will
be available from Kisan Credit Card is available on the official website PMkisan.gov.in. In this, there is a clear instruction that banks can give loans by taking only 3 documents. For making KCC, the farmer will need an Aadhaar card, PAN card, and photo. Also, an affidavit has to be given, in which it is to be told that you have not taken a loan from any other bank.
If you want to get a Kisan Credit Card, then you can contact the Co-operative Bank, Regional Rural Bank, National Payments Corporation of India, State Bank of India (SBI), Bank of India, and Industrial Development Bank of India (IDBI).
The validity of the Kisan Credit Card is 5 years. Loans up to Rs 3 lakh are given to farmers on this card. However, loans for agriculture are available at a rate of about 9 percent.
But on KCC, the government gives a subsidy of two percent to the farmers, and on-time payment of KCC gives an additional rebate of 3 percent. Due to which the interest rate to farmers is 4 percent.
Kisan Credit Card is given to farmers for farming. For this, the farmer should have his own land. The farmer can take a loan on a credit card of 3 lakh rupees without mortgaging the land. KCC is valid for five years.
Taking a big step in the interest of farmers, the government has ensured the provision of providing financial assistance in the interest rate in KCC in 2019 to the dairy industry, including cattle farmers and fishermen.
The Kisan Credit Card (KCC) scheme was started in 1998. Through this, farmers easily get loans for farming according to their needs. With the amount of this credit card, farmers can buy their agricultural goods, fertilizers, seeds, pesticides.