What is Kisan Credit Card?
Kisan Credit Card (KCC) was launched by the Central Government to ensure that farmers of the country have access to credit at a reasonable rate. This scheme was introduced in August 1998 and was based on the recommendations of a special committee formed for inputs on loans & agricultural welfare. KCC Loan provides term loans to the farmers for covering the cost of farming, harvest & farm maintenance.
Types of Loans you get through KCC
There are various banks in India that provides agricultural loans to farmers in order to help them meet their financial needs.
Farm operating loans
Farm ownership loans
Dairy Plus Scheme
Broiler Plus Scheme
Produce marketing loan
Farm storage facilities & warehousing loan
Horticulture loan
Minor irrigation scheme
Land Purchase Scheme etc.
Who is eligible for Kisan Card?
Anyone who is engaged in agriculture, allied activities or non-farming activities can apply for Kisan credit card. Below we have mentioned complete details about the eligibility criteria, essential documents, etc for the Kisan Credit Card loan:
Minimum Age - 18 years
Maximum Age - 75 years
If a borrower is a senior citizen (age above 60 years) then a co-borrower is compulsory where the co-borrower must be a legal heir.
All the farmers – individuals or joint cultivators
SHGs / joint liability groups including tenant farmers
Tenant farmers, oral lessees & share croppers.
Documents Required for Kisan Credit Card
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Identity proof like Voter ID card or PAN card or Passport or Aadhaar card or Driving License, etc.
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Address proof like a Voter ID card or Passport or Aadhaar card or Driving License, etc.
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Landholding documents
What is the limit of KCC?
For marginal Farmers - A flexible limit of Rs. 10, 000 – Rs. 50, 000 is provided (as Flexi KCC) based on the landholding & crops grown including post-harvest warehouse storage-related credit requirements and other farm expenses. (As per RBI website)
Kisan Credit Card: How to Apply
Applying for Kisan Credit Card is very easy as nowadays banks have made provisions to allow for the online and offline application process. If you want to apply online then follow the steps given below:
Go to the Kisan Credit Card section on a bank’s official website
Tap “Apply Now” button
Fill in all your details carefully (Name, Mobile Number etc.)
Then click the submit button to apply online
The application processing time is of 3 to 4 working days
If the application is approved, an executive will contact you and tell you about the documents needed and where to visit for further steps.
If you want to apply offline then you will have to visit the nearest bank’s branch & apply for the Kisan credit card loan. Do not forget to carry all relevant documents with you at the time of registration.
By mentioning your mobile number in the application form, you will receive status updates one by one till your loan gets approved.
Which banks provide Kisan Credit Card?
Kisan Credit Card is offered by many public sector banks, co-operative banks and rural banks in India. Some of them are:
Bank of India (BOI)
National Payments Corporation of India (NPCI)
Industrial Development Bank of India (IDBI)
NABARD
