Over the years, the scheme was revised to accommodate people involved in fisheries and animal husbandry as well. Earlier, farmers used to borrow high-interest loans from banks or unorganised sectors, which often led them into a debt trap. However, with a Kisan card, farmers can get access to formal credit at much lower interest and security.
How to Apply for a Kisan Credit Card Online?
All commercial banks, small finance banks, and cooperative banks can provide a Kisan credit card to eligible candidates. You can directly visit the respective bank’s website to apply for a Kisan credit card. Below are the general steps: You can also apply for a KCC card offline. Simply visit the bank and get in touch with a customer care executive to know the details about the application process. Make sure you carry copies of the necessary KYC documents with you to ensure a smooth application process and quick approval.
How Does it Work?
The Kisan credit card allows farmers to borrow credit at 2%-4% interest rates with a flexible repayment period. Some banks even allow the loan repayment to start after the crops are harvested. Under the scheme, farmers can avail up to ₹3-₹5 lakh, depending on their eligibility and the bank’s policies. Cardholders can also enjoy other benefits such as discounts on certain agricultural goods, life insurance cover, etc., as per the respective bank’s offering. Some of the top banks from which you can apply for a Kisan credit cards are:
State Bank of IndiaAxis BankPunjab National BankUCO BankBank of MaharashtraIndian Overseas Bank
Eligibility & Documents Required to Apply for a Kisan Credit Card:
Although the eligibility criteria for a Kisan card may vary slightly from bank to bank, the general requirement can be summed as:
Applicant must be between 18-75 yearsApplicant must be an individual farmer or a joint borrower. However, a joint holding of maximum 5 people is accepted by most banks
The general list of documents you need to submit along with your KCC application includes: Note: For detailed information related to the Kisan credit card eligibility & documents required, check the eligibility criteria listed on the individual bank’s website.
