Kisan credit card: He Kisan credit card (KCC) is a government initiative. KCC was launched in 1998 by the National Bank for Agriculture and Rural Development (NABARD).
The Kisa credit card helps farmers meet their agricultural, fishing and ranching requirements by providing short-term loans and a credit limit to buy equipment and cover other expenses.
The Kisan credit card is valid for up to 3 years and the return is made once the harvest season is over. At KCC, collateral is not required for loans up to Rs 1.60 lakh. Insurance cover for KCC plan holders is up to Rs 50,000 in case of permanent disability or death. Coverage of Rs 25,000 is given for other risks.
Kisan Credit Card: Banks that offer the KCC scheme
There are many banks that offer Kisan credit card schemes such as State Bank of India (SBI), HDFC Bank, ICICI Bank, Axis Bank and Central Bank of India, UCO Bank, Overseas Indian among others.
KCC Loan: Eligibility
- The borrower must be a minimum of 18 years of age and a maximum of 75 years
- The farmer is an owner-cultivator.
- People who belong to a group and are solidarity borrowers.
- The group has to be owner-cultivators.
- Sharecroppers, renters, or oral tenants are eligible for the KCC.
- Self Help Groups (SHG) or Joint Liability Groups (JLG) of sharecroppers, farmers, tenants, etc.
- Farmers are involved in crop production or related activities, such as animal husbandry, along with non-agricultural activities, such as fishing.
KCC Loan Scheme: Required Documents
- Application form duly completed and signed.
- Copy of proof of identity such as an Aadhaar card, PAN card, voter ID, driver’s license, etc.
- Copy of proof of address documents such as an Aadhaar card, PAN card, voter ID, and driver’s license.
- land documents
- A passport size photograph of the applicant.
- Other documents such as security PDC as requested by the issuing bank.
How to apply for Kisan credit card online
Step 1: Visit the website of the bank where you want to apply for the kisan credit card scheme.
Step 2: Now, click on the Kisan credit card.
Step 3: By clicking on the ‘Apply’ option, the website will redirect you to the application page.
Step 4 – Fill in the form with the required details and click ‘Submit’.
Step 5: Doing so will submit an application reference number.
Step 6 – If you are eligible, the bank will contact you to continue the process within 3-4 business days.