Kisan Credit Card (KCC) – PM Kisan Yojana – Application Process: In this article, you will find about PM Kisan Yojana New update, Kisan Credit Card (KCC). we will also tell about the process of application to apply for a Kisan credit card under the PM Kisan Yojana.
The Kisan MasterCard scheme, which began in 1998, aims to deal with the agricultural sector’s overall financial needs by providing term loans. Kisan MasterCard Scheme aims to supply farmers with timely and need-based credit support for his or her cultivation and non-farm activities in a cost-effective manner.
The Kisan MasterCard, a government of India project, is meant to alleviate Indian farmers of the burden of high interest rates paid by unorganized money lenders. Farmers did not get to complete KYC because the PM Kisan Yojana has been linked to the Kisan MasterCard.
To get a Kisan MasterCard, farmers now only got to complete a one-page form. The pmkisan.gov.in website has this type available for download. The farmer must open an account under the PM Kisan Samman Nidhi Yojana, To use the Kisan MasterCard,
Kisan Credit Card Eligibility and Other details
The farmer applying for a Kisan MasterCard must be a minimum of 18 years older and no quite 75 years old. Applicants would also need a co-applicant over the age of 60.
A farmer can get a loan of up to Rs 3 lakh for farming with the Kisan MasterCard. This money would be paid to the farmer with a forty-five rate of interest. you’ll apply for a Kisan MasterCard if you’re one among the subsequent people.
Owner-cultivators who are farmers-individuals/joint creditors. sharecroppers, Tenant farmers, and other farmers form Self Help Groups or Joint Involvement Groups. Tenant farmers, Share Croppers, and Oral Lessees are only a couple of examples.
Kisan Credit Card Documents required
To obtain the card, the farmer will be required to submit certain documents. The following is a list of papers.
- complete application form
- Aadhar Card,
- PAN Card,
- Voter ID Card,
- Driving License,
- Proof of Address
Banks Offering Kisan Credit Card in India
Many well-known Indian banks give farmers a Kisan MasterCard with a low interest rate. The depository financial institution of India, India’s largest public sector bank, offers a farmer an equivalent so that they will cover all kinds of cultivation costs also as contingency costs.
The card is issued by the Bank of India to qualified farmers who are members of the operational branch within the district. HDFC, Bank of India, Axis Bank, PNB, Indian Overseas Bank are a number of the banks offering the Kisan MasterCard facility.
Farmers engaging in the scheme will get a credit card/passbook including their name, address, landholding details, borrowing limit, validity duration, and other information to help them keep track of their purchases regularly.
A passport-size photograph of the beneficiary is going to be included within the passbook, among other things. While managing the account, the beneficiary farmer should produce the passbook.
How to Apply for PM Kisan Credit Card Scheme Online 2021?
- Step 1- You have to Visit the PM Kisan Yojana i.e. pmkisan.gov.in.
- Step 2: Click Download Kisan Credit Card (KCC) form
- Step 3: Print the application form
- Step 4: Enter the required information and attach the required documents
- Step 5: Submit to your nearest related department.
The Government of India grants small farmers who exist KCC a loan of up to Rs 1.6 lakh with no collateral or guarantee. consistent with tax and investment experts, farmers can take up to a Rs 5 lakh KCC loan in three years. At 4% per annum, the KCC loan rate of interest is additionally very low.
How to apply for Kisan Credit Card Scheme online through Bank Portal?
- Step 1: You have to visit the official bank website
- Step 2: Click the download Kisan Credit Card (KCC) form from the menu
- Step 3: Click Apply button and enter the information.
- Step 4: Click the submit button
You will be allotted an application reference number. The Kisan MasterCard is going to be sent once the loan has been approved. those that operate in farming and fisheries also can apply for agricultural loans through the Kisan MasterCard, additionally to farmers. it’s also not a requirement that the applicant owns the agricultural property. A loan of up to Rs 2 lakh is often obtained at a forty-five rate of interest for farming or fisheries.