PM Kisan Yojana was started by the Central government to help farmers deal with the financial crisis. Under this scheme, Rs. 6000 are provided to farmers annually in three instalments of Rs. 2000 each. Recently, the 9th instalment of PM Kisan Yojana was released on 9th August 2021.
Along with this benefit, farmers can also take loans at a cheaper rate under this scheme. Let us proceed to know-how. It must be noted that Kisan Credit Card Scheme is linked with Pradhan Mantri Kisan Samman Yojana under AtmaNirbhar Bharat Yojana.
About Kisan Credit Card Scheme
Under this scheme, farmers can get loans from banks at very low-interest rates. Farmers must have Kisan Credit Card to get a loan under this scheme. Under this scheme, farmers are given loans up to Rs. 1.60 lakh without any collateral or guarantee. Beyond that, banks can ask for security or collateral. And short-term loans of Rs. 3 lakh are provided at an interest rate of only 4 percent. And the validity period is 5 years. And if there is any delay in repayment of the loan, then the interest rate changes to 7 percent.
How to Get the Kisan Credit Card?
To avail the Kisan Credit Card facility, a farmer must open the account under PM Kisan Samman Nidhi Yojana. Along with this loan facility, farmers can get other benefits also with Kisan Credit Card, this is why the government is encouraging the farmers to apply for getting a Kisan Credit Card.
How to Apply for KCC?
Following steps can be followed to get the Kisan Credit Card-
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Visit the website of the preferred bank and check their KCC section
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Download the application form and get a printout
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Fill in all the correct information in the application form
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Submit the application form and necessary documents in the bank.
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The loan officer will complete the rest process and you will be issued a Kisan Credit Card
What are the Required Documents?
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Identity Proof- Voter ID/ Passport/ Aadhar card/ Driving license/ etc.
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Duly filled application form
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Colored passport size photograph
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Address Proof
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Land ownership records
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Grown crops records
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Signature verification
