The Kisan Credit Card is a Government of India project which seeks to assist farmers with finance for agricultural and related activities. Since its inception in 1998, Kisan Credit Card has played an important role in servicing the loan requirements of farmers across India. The scheme is a credit structure that consolidates farmers' credit needs and offers them an inexpensive and flexible source of financing.

Here's a detailed guide on the Kisan Credit Card applying process and its features.

Features of Kisan Credit Card

The Kisan credit card offers multiple benefits to its customers.

• Credit Limit: The Kisan Credit Card provides a credit limit of up to INR 1.6 Lakhs without any collateral and up to INR 3 Lakhs with collateral.
• Interest Rate: The Kisan Credit Card has reasonable and competitive interest rates. However, the interest rate varies across banks.
• Repayment: The credit obtained through this credit card can be repaid in easy EMI instalments.
• Subsidies: Holders of this credit card are eligible for government subsidies on agricultural supplies and machinery.
• Insurance Protection: Personal accident insurance coverage of up to INR 50,000 is also provided to Kisan Credit Card holders.

What Are the Eligibility Criteria for Kisan Credit Card?

Here are the details about the eligibility criteria to obtain a Kisan Credit Card.

• Farmers with agricultural land and tenant farmers, sharecroppers, and others are eligible for the KCC.
• The farmer should be between the ages of 18 and 75.
• The farmer should open a savings account at a bank.
• The farmer should own an appropriate landholding for agricultural purposes.
• The farmer should implement an effective plan for crop production or other agricultural operations for which the loan is being obtained.

It is crucial to note that eligibility conditions differ from bank to bank, and farmers should confirm eligibility with the specific bank before applying for the credit card.

How to Apply Kisan Credit Card?

Here’s a step-by-step guide to help you understand the application process for Kisan Credit Card from any government or co-operative bank in India.

• Step 1: Visit the bank's official website
• Step 2: Browse and click on the website's ‘Kisan Credit Card’ section.
• Step 3: Complete the online application form with your personal and agricultural information.
• Step 4: Upload all required papers, including land documents, identity verification, etc.
• Step 5: Submit the application form after attaching all documents. The bank may take up to a few days to process it.
• Step 6: Once your application is approved, your credit card will be delivered to your doorstep. You can also collect that from your nearest bank branch.

Conclusion

The Kisan Credit Card is a key effort created by the Indian government to provide farmers with financial assistance for agricultural and related activities.

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Frequently Asked Questions

1. What is the age requirement for a Kisan Credit Card?

A Kisan Credit Card can be obtained by individuals between the ages of 18 and 75. However, before submitting an application for the KCC, farmers should confirm the particular criteria with the relevant bank as the age requirement may differ from bank to bank.

2. What is the validity period of the Kisan Credit Card?

A Kisan Credit Card's validity depends on the lending institution and can vary. Usually, this credit card is valid for a period of 5 years, after which it needs to be renewed.