Launched in 1998, Kisan Credit Card was introduced by NABARD to provide short-term loans to farmers. Kisan credit card yojana aims at providing formal credits to the farmers in the agriculture, fishery, and animal husbandry sectors at a lower rate of interest.
With the digitalization of bank services, farmers can apply for KCC online. If you are wishing to know more about the Kisan credit card scheme, or how to apply online, you have landed on the right page.
Table of Contents
What is Kisan Credit Card?
This card was introduced by National Bank for Agriculture and Rural Development. It is a financial tool to help farmers with short-term loans from the bank for buying equipment, seeds, fodder, etc. This loan aids farmers in meeting their farming needs.
The KCC yojana usually provides flexible repayment options along with insurance coverage. KCC’s interest rate is also lower than other types of bank loans. The duration of this loan may extend up to 3 years.
KCC Eligibility
The Kisan Credit Card eligibility criteria for availing of this scheme are as follows.
For Farmer:
1. Must be own-cultivators as an individual or joint group
2. Applicable for tenant farmers, sharecroppers, and Oral-lessee
3. Applicable for Self-help groups or joint liability groups involved in agricultural activities
For Fisheries:
1. Fish farmers or Self-help groups or joint liability groups practicing inland fisheries and aquaculture. Must have own or a lease of the inland waterbody.
2. Fish farmers practicing marine fishery must have a registered fishing vessel and required license of fishing in the area or sea.
For Poultry:
1. Farmers, tenant farmers, or groups having own, rented, or leased animal stock
For Dairy farmers:
1. Farmers, tenant farmers, or groups having own, rented, or leased sheds.
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KCC Benefits
The Kisan Credit Card benefits are mentioned below:
1. Farmers eligible for this scheme can lend up to Rs.3 Lakhs. The loan amount limit may vary from bank to bank.
2. Farmers availing of this loan may also avail produce marketing loans.
3. Farmers who apply for this card get insurance coverage for the cardholder up to Rs.50000 in case of death or permanent disability. Additionally, insurance coverage of Rs.25000 is also assigned to that cardholder for other risks.
4. When a farmer or group applies for this card, a savings account, smart card, and debit card are also given to the applicant.
5. For KCC loans, the disbursement procedure is usually hassle-free and the repayment options are flexible.
6. In the case of Kisan credit card loan up to Rs.1.60 lakh, the farmers do not need to provide any collateral.
7. Farmers also receive assistance in agriculture-related purchases through cash discounts from merchants and dealers.
Kisan Credit Card Interest Rate
Kisan Credit Card rate of interest is lower than other bank loans. However, the interest rate may vary with banks as well as State regulations. Usually, most banks charge an interest rate of 7% for this loan up to Rs.3 lakhs. However, the KCC interest rate may extend up to 17%.
Kisan Credit Card: How to apply?
One can proceed to apply online or offline. Here’s the procedure for both online and offline applications for this card.
Kisan Credit Card Online Apply
To apply online, you have to follow the below-mentioned process.
1. Visit the official website of the desired bank
2. Click on the ‘Kisan Credit card online apply’ option
3. You have to fill up the Kisan credit card form and submit the required documents.
4. Preview and Submit duly filled KCC form.
5. Once submitted, you will receive an application reference number. Save the application reference number for further use.
Kisan Credit Card Apply Online CSC
In case of applying through Kisan Credit Card CSC, go to customer service centers. Submit the duly filled form and documents at the customer service center that will be later transferred to the bank. This is an alternate process for apply under PM KCC yojana.
Kisan Credit Card Offline Apply
To apply for a Kisan credit card, you have to either download the form from the bank’s website or get the form from the nearest branch. You have to fill the form properly and submit the duly filled form and required documents to the nearest branch of the bank. If you are opting for an offline application, you will be guided by the bank representative at the bank.
Alternatively, you can submit the form and documents at KCC customer service centers that will be later transferred to the bank.
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Kisan Credit Card Status Check
After completing the online application process, you will be provided with an application reference number. You can easily undertake Kisan credit card status online using this reference number.
For this, go to www.pmkisan.gov.in and go to the farmers’ corner. Use the reference number to view the status of your KCC application. Once approved, you can save and download the Kisan Credit card. Alternatively, you can check the status online through the official website of the bank.
KCC Helpline Number
If you have any queries regarding applying online, you can reach out to the Kisan Credit Card helpline number. You can dial the toll-free numbers 155261 / 1800115526. Alternatively, you may also reach out to the KCC helpline by dialing 0120-6025109.
Final Thoughts
Under the pandemic scenario, the process of online application has become popular. It involves a simple process that can be executed if one has a technology acquaintance. Kisan credit card scheme has been a beneficial government scheme for farmers. Hope this article has helped you to get a clear idea about how to take loan on Kisan credit card.
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