Kisan Credit Card Scheme – Are You Eligible?

A: Launched in 1989, the objective of the Kisan Credit Card scheme is to provide loans to farmers at a lower interest rate. In the 2020 Union Budget, the government has allocated INR 20,000 crores to sanction loans to KCC cardholders. As of 2018 March 31, there are 23,528,133 active KCC holders in India.

A. The interest rate is 4%. Upon prompt repayment, interest will be waived up to 3%. Late repayment can attract up to 7% of interest rate

A: The loan amount can be used to cover the cost of:
1. Crop production
2. The maintenance of assets, dairy animals, etc.
3. Marketing

A: Below listed are the eligibility criteria:
1. Farmers with minimum 18 years and maximum of 75 years of age can avail the loan
2. For senior citizens, a co-borrower who is a legal heir is mandatory
3. Individuals and tenant farmers, joint cultivators, owners, oral lessees and sharecroppers
4. Self Help Groups (SHGs) or joint liability groups

A: You need to submit documents that prove your identity, income and address:
Proof Of Identity
Aadhaar Card
Driving License
PAN Card
Passport
Voter’s ID Card
Or any other government approved photo ID
Proof Of Address
Aadhaar Card
Utility bills
Passport
Proof Of Income
Bank statement and salary slips for the last 3 months
Form 16
Audited financials for the last two years (for self-employed)

National Bank for Agriculture and Rural Development (NABARD)
National Payments Corporation of India (NPCI)
State Bank of India (SBI)
Cooperative Banks
Industrial Development Bank of India (IDBI)

You need to visit a bank of your choice and submit a loan application. Some banks let you download the form from their site. You will be asked to submit collateral if the loan amount is above INR 1.60 lakhs. Post processing, you will receive your Kisan Credit Card.

Check the banks’ website or call their customer care before you visit a branch to know more about the application procedure.

You can start using the loan once you receive the card. The fund can be used to buy seeds, fertilizers etc. Banks also provide checkbook and passbooks along with the card. By paying back the loan on time you can avoid cumulative interest.

A: The application can’t be submitted online. However, you can download the application form online from Bank’s website. On the website, check for Kisan Credit Card section and download the application.

Once you download, fill the application and submit it at a nearby branch along with required documents. After verification, your card will be processed.

A: To get an SBI Kisan credit card, download the form the website. Fill the form and submit it along with necessary documents at the nearest branch. You can also get the application form from the branch.

A: The helpline numbers are:
Helpline: 011-2430-0606
Email: pmkisan-ict@gov.in

A: the official website is – https://pmkisan.gov.in/

A: Below given are the number of operative KCC holders in the country:

A: The Kisan Credit card interest rate is 4% upon timely repayment of the loan. Below are conditions for interest rate waiver:
1. Kisan Credit Card interest rate upon prompt repayment: 3%.
2. Late payment: 7% on the amount