Kisan Credit Card Scheme (KCC) is to provide timely and adequate credit to farmers for agriculture and allied activities to enable them to meet their crop cultivation and other working capital needs.
Main objectives of the scheme:
- Timely and Adequate Credit:To provide timely and adequate credit to farmers to meet their production credit requirements (farming expenditure).
- Simplified procedure:Meeting future expenditure and expenditure related to ancillary activities through a simplified process, making it easier for borrowers to access loans when required.
- Single Window Credit Support:To provide single window credit support to farmers for their crop cultivation and other working capital needs.
- Loans for Agriculture and Allied Activities:To provide need based and timely credit support to farmers from the banking system for agriculture and allied activities as well as non-agricultural activities.
- Crop Insurance and Accident Insurance:KCC holders are covered under personal accident insurance up to ₹50,000 for death and permanent disability and up to ₹25,000 for other risks.
Eligibility:
- All farmers (individual/joint borrowers who are owners)
- Tenant farmers, oral lessees and sharecroppers
- Self-help groups or joint liability groups of farmers, including tenant farmers
Features of the loan:
- short term loan:This includes short-term loans and term loans for crops.
- Interest Rate:Interest rates are determined by the bank and depend on the loan amount.
- Loan Limit:Loan limits depend on the farmer’s land availability, cropping pattern and other factors.
- Digital KCC:Banks issue digital Kisan Credit Card (KCC) to farmers for crop production based on their land holding and crop pattern.
how to apply:
- You can apply by visiting your nearest bank branch or by visiting the bank’s website.
- Documents required for application include: application form, two passport size photographs, identity proof, address proof, proof of land ownership, crop pattern and other documents.