Kisan Credit Card

Kisan Credit Card Apply: In India, agriculture and farming are one of the biggest employment means that directly or indirectly connect with a larger population. To support this sector with its financial requirements, the Reserve Bank of India and the National Bank for Agriculture and Rural Development (NABARD) have launched a scheme named Kisan Credit Card. The KCC is a government-backed financial scheme designed to provide timely and affordable credit to farmers across India.

Read in depth about the KCC, eligibility criteria, steps to apply, documents required, etc., in the article below.

What is Kisan Credit Card?

The Kisan Credit Card or KCC is a credit scheme launched with the objective to provide farmers with short-term loans at their time of need, and that too at subsidised interest rates. This scheme offers a flexible credit limit to the farmers that can help them fulfil their agricultural expenses, like crop production, post-harvest activities, and even allied activities like dairy, fisheries, and animal husbandry. The Kisan Credit Card acts like any other regular credit card, allowing farmers to withdraw money using it as per their requirement and later repay it after the harvest.

Key Benefits of Kisan Credit Card

The Kisan Credit Card offers lots of key benefits to the farmers, such as:

• The interest rate of the loan given using the Kisan Credit Card is always on the lower side
• The standard rate is 7% p.a., but with a 2% government subvention and 3% prompt repayment incentive, the effective rate reduces to 4% p.a.
• Using the KCC, farmers can withdraw cash multiple times as per their requirements within the sanctioned limit, facilitating both short-term crop loans and long-term investment credit
• The funds from KCC can be used for farming, consumption needs, post-harvest expenses, marketing, and working capital for dairy, fisheries, or poultry
• One of the biggest benefits of the KCC is that no collateral is needed for a loan up to INR 2 lakh
• KCC holders are eligible for Personal Accident Insurance Scheme (PAIS) coverage up to INR 50,000 for death/permanent disability and up to INR 25,000 for other risks, plus crop insurance under PMFBY

Eligibility Criteria for Kisan Credit Card

Below applying for the Kisan Credit Card, there are certain eligibility requirements that an applicant needs to fulfill. Check the eligibility criteria for the Kisan Credit Card below:

• The applicant needs to a Indian farmer
• Individuals who own cultivable land, animal husbandry, and fisheries, or are tenant farmers, oral lessees, and sharecroppers, can apply for the KCC
• The minimum age of the applicant must be between 18 years and 75 years
• If the age of the applicant is over 60 years, then a co-applicant is needed for the loan

Kisan Credit Card Document

While applying for the Kisan Credit Card, the applicants need to have certain documents ready with themselves, such as:

• Identity proof (Aadhaar Card, Voter ID, PAN Card)
• Address proof
• Land ownership or lease documents
• Passport-size photographs
• Bank account details
• Crop cultivation details, etc.

How to Apply for Kisan Credit Card?

The applications for the Kisan Credit Card can be done by the farmers online, either at the bank’s website or JanSamarth portal or can also complete their applications offline by visiting the bank physically. We have elaborated the complete process for the KCC in either ways:

Offline Way

Step 1: Visit the nearest bank branch (Public Sector Bank, Private Bank, or Regional Rural Bank)

Step 2: Collect the application form for KCC

Step 3: Fill the form with the correct details

Step 4: Attach all the required documents along with the application form

Step 5: The bank will complete the verification process

Step 6: Once the verification process is completed, the  bank will issue the Kisan Credit Card along with the approved credit limit

Online via JanSamarth

Step 1: Visit the official website of JanSamarth at https://www.jansamarth.in/

Step 2: Click on the tab for “register”

Step 3: Create a login credential by filling in your mobile number

Step 4: Fill in the application form for the Kisan Credit Card

Step 5: Upload all the required documents in the required manner

Step 6: Save and process the application form

Step 7: The authorities will go through the verification process

Step 8: Once the verification is completed, the Kisan Credit Card will be shared with the farmer with the approved credit limit

Online via Bank Website

Step 1: Visit the official website of the respective bank

Step 2: Login into the official website using the basic details

Step 3: Access and fill out the application form for the Kisan Credit Card

Step 4: Upload all the required documents

Step 5: Save and process the form

Step 6: The bank will go through the verification process

Step 7: On completing the verification process, the bank will send the Kisan Credit Card with the details regarding the approved credit limit