Pradhan Mantri Kisan Credit Card scheme was introduced by the GOI to offer sufficient credit support to farms for their essential farming requirements such as post-harvest expenses, Household consumption needs, etc.
Under this scheme, Farmers get the credit at a subsidized 4% annual rate subject to the interest subvention of 2% and a 3 % Prompt Repayment Incentive. Effective Guidelines and procedures are given to banks for the proper operation of the scheme. KCC Card users can withdraw money through the withdrawal slips and Kisan Credit Card Passbook. However, Withdrawal can be done up to the credit limit fixed by the Bank. In addition, farmers possessing a minimum credit limit of Rs. 25000 can also make use of the chequebook.
Note: The validity period of this scheme is 5 Years. However, tenure depends upon the type of credit requirement.
Also Read:- Pradhan Mantri Ujjwala Yojana || Lakhpati Didi Yojana || Atal Pension Yojana
Pradhan Mantri Kisan Credit Card Benefits-
Under the Pradhan Mantri Kisan Credit Card, Farmers get significant benefits, that are mentioned below:
- such as Interest relief at 2% and prompt repayment incentive at 3 % on crop loans & working capital loans for the categories of animal husbandry and fisheries.
- such benefits will apply to the Rs. 3 Lakh annual limit, contingent upon the 2 Lakh maximum limit for the only farmers associated with animal husbandry and fisheries.
Types of Issuing Kisan Credit Cards
Here are the types of Kisan Credit Cards farmers can get through the Pradhan Mantri Kisan Credit Card Scheme:
- A magnetic stripe card with a PIN (Personal Identification Number) with an ISO IIN (International Standards Organization International Identification Number)
- Debit cards with magnetic stripe and PIN with ISO IIN with biometric authentication of UIDAI
- Debit Cards with magnetic stripes and only biometric authentication
- EMV (Europay, MasterCard, and VISA) and RUPAY-compliant chip cards with magnetic stripes and pins with ISO IIN.
- biometric authentication and smart cards
Also Read;- बिहार कर्मचारी चयन आयोग || Aadhar Card Loan Yojana || Pradhan Mantri Matru Vandana Yojana
Eligibility Criteria for Pradhan Mantri Kisan Credit Card-
Information about the category of people eligible to apply for Pradhan Mantri Kisan Credit Card are listed below:
- Farmers – individual/joint borrowers, owner cultivators;
- Oral lessees, Tenant farmers, sharecroppers;
- Farmers Joint Liability Groups (JLGs) or Self Help Groups (SHGs), involving sharecroppers, tenant farmers, etc.
Age Requirement:
Applicants should have age between(18- 75) Years to apply for Pradhan Mantri Kisan Credit Card. Besides, Senior citizens must have a co-borrower as a legal heir
How to Apply for Pradhan Mantri Kisan Credit Card?
Eligible farmers can apply for Pradhan Mantri Kisan Credit Card in both modes online as well as offline.
Online Mode:
To apply in the online mode, farmers are required to follow the step-by-step process mentioned below:
- Firstly, Go to the official website of the bank you selected to apply for a Kisan Credit Card.
- Opt for the Kisan Credit Card among the list of choices available.
- Click on the “ Apply” Option and you will be redirected to the “Application” page
- Enter all relevant details in the form and click on the “Submit” button.
- After submission of the form, you will receive an application reference number.
- Then, your application form will be reviewed by the bank and it will notify you accordingly in the next 3-4 days.
Offline Mode:
To apply in the ofline mode, applicants are required to follow the below-mentioned procedure for successful application:
- Eligible farmers can directly visit the branch of the bank they selected to apply for a Kisan Credit Card (or they can download the application form from the official website of the Bank)
- Then applicants are required to visit the chosen branch and start the application process with the support of Bank staff.
Also Read:- Ladli Behna Yojana Maharashtra | National Food Security Act
Required Documents For Apply:
There are various documents required during the process of applying for the KCC card. Such documents are listed below:
- Application Form
- Two Passport Size Photos.
- Certified Landholding Proof
- Address Proof such as a Driving License, and Aadhar Card.
- Identification proof such as Aadhar Card/ Driving License / Passport/ Voter Identity Card.
- Cropping pattern (Crops grown) with acreage.
- Security documents for loan limit above Rs.1.60 lakhs / Rs.3.00 lakhs, as required.
FAQs-
Q.1. Who is eligible for the Kisan Credit Card?
A.1. All farmers whether individuals or Joint borrowers as owner cultivators, Tenant farmers, Sharecroppers, Oral lessees, SHGs, or Joint Liability Groups of farmers, etc, are eligible to apply for the Kisan Credit Card scheme.
Q.2. What is the KCC loan limit?
A.2. Card bearer can avail the maximum loan amount up to Rs. 3 Lakh. A high rate of Interest will be earned by the Farmers who add money to their Kisan Credit Account.
Q.3. How can I check my KCC account balance?
A.3 To check their KCC Account Balance, customers can contact the customer care cell of the SBI Bank. 1800 11 2211. 1800 425 3800 are the Toll-Free Numbers.
Q.4. What are the benefits of the KCC card?
A.4. There are numerous benefits of a KCC card such as a loan limit of up to Rs. 3 Lakh and insurance benefits up to Rs. 50,000 in the circumstances of death or permanent disability, flexible repayment options, etc. Additionally, Debit cards and Savings Bank Account facilities are also given to some of the eligible farmers.
Q.5. Is KCC only for farmers?
A.5. Yes, KCC is only for farmers as the aim of this scheme was to give Farmers credit facilities to Farmers on time for their Agricultural management processes.
Q.6. Which bank is best for a KCC loan?
A.6. Different banks offer KCC loans with varied Interest rates so before opting for any bank to get a KCC Loan, it is recommended to consider certain factors such as Interest Subventions, Prompt redressal of queries, etc. to ensure convenience.
Q.7. How do I increase my KCC limit?
A.7. KCC Card holders can increase their limit annually for up to the 5th year at a 10% rate. Additionally, they can also get accident insurance with a maximum of rs. 50,000. Every bank offers different credit card limits and it is decided on factors such as history of repayment, Income details, Farming profit patterns, etc.
Q.8. What is the minimum land required for the KCC loan?
A.8. The minimum Irrigated land required for the KCC Loan is 2 acres.
Q.9. What is the maximum land required for the KCC Loan?
A.9. The maximum land required for the KCC is 1000 acres.
