Kisan Credit Card- Check Latest Interest Rates and Application Process

The Kisan Credit Card (KCC) programme was created by the government. The National Bank for Agriculture and Rural Development introduced KCC in 1998. (NABARD). With short-term loans and a credit limit to buy equipment and pay other expenses, the Kisan Credit Card assists farmers in meeting their needs for agriculture, fishery, and animal husbandry.

The Kisan Credit Card has a three-year maximum validity period, and repayment is due after the harvest. In KCC, there is no requirement for security for loans up to Rs. 1.60 lakh. KCC is covered by insurance up to Rs 50,000 in the event of death or permanent disability. Here is how you can apply for a kisan credit card.

Eligibility for loan from KCC-

• Age should be at least 18 years and not more than 75.
• The cultivator is an owner-farmer.
• Individuals who are both joint debtors and members of a group.
• The group must consist of owner-farmers.
• Oral lessees, tenant farmers, and sharecroppers are all qualified for the KCC.
• Self-help groups (SHG) or joint liability groups (JLG) comprised farmers, tenant farmers, and sharecroppers, among others.
• Along with non-farm activities like fishing, farmers are active in the cultivation of crops or related activities like animal husbandry.

Documents Required-

• Fully Completed and signed application form.
• A copy of an identity document, such as a PAN card, driving licence, voter ID, or Aadhaar card.
• A copy of any documents used to verify your address, such as your PAN card, Aadhaar card, driver's licence, or voter ID.
• Land records
• One passport size photo of the applicant
• additional documents, such as security PDC upon the issuing bank's request.

How to submit an online Kisan Credit Card application?

Step 1: Go to the bank's website to apply for the Kisan credit card scheme.

Step 2: Choose Kisan Credit Card.

Step 3: You will be redirected to the application page after you select the "Apply" option.

Step 4: Complete the form with the required details, then click "Submit."

Step 5: After submission, a reference number for your application will be issued.

Step 6: The bank will contact you for further procedure.

Interest rate of Banks offering Kisan Credit Card

SBI-
SBI offers 7% on kisan credit card upto rupees 3 lakhs

PNB-
PNB offers 7% on kisan credit card upto Rs. 3 lakhs.

HDFC Bank-
HDFC bank offers 9% p.a.on kisan credit card

Axis Bank-
Axis Bank offers 8.85% p.a.on kisan credit card

Indian Overseas Bank-
Indian Overseas Bank provides 7% interest rate upto Rs.3 lacs and interest subvention is also available.

UCO Bank-
UCO Bank provides 7% p.a. on kisan credit card and interest subvention is provided.

ICICI Bank-
ICICI Bank provides 9% interest rate on kisan credit card.