Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
The Kisan Credit Card is a scheme launched by the Government of India. This offers farmers access to credit via Kisan credit cards. The Kisan Credit Card (KCC) scheme had been launched in 1998. The aim of the scheme is to provide short-term credit to all farmers in India. The scheme was created by NABARD (National Bank for Agriculture and Rural Development).
The KCC scheme ensures that credit requirements for a lot of farmers in the agricultural field in India are met. These include fisheries and animal husbandry sectors as well.
Farmers can avail short-term loans and they can purchase equipment for their land and meet other expenses.
| Bank | Kisan Credit Card Interest Rate |
|---|---|
| SBI Kisan Credit Card | Up to 7% p.a. |
| PNB Kisan Credit Card | 7% |
| HDFC Bank Kisan Credit Card | 9% |
| Axis Bank Kisan Credit Card | 8.85% to 13.10% |
| Mahabank Kisan Credit Card | 7% |
| Indian Overseas Bank Kisan Credit Card | 7% (interest subvention provided) |
| UCO Bank | 7% (interest subvention provided) |
You can get the Kisan Credit Card if you are engaged in in the agriculture and other related activities. Even if you are involved in non-farming activities, you can get a Kisan Credit Card.
You or/and the co-borrower should be between 18 and 75 years old.
You can get a Kisan Credit Card if you want to cover expenses that are related to working capital requirements, and crop production. Other expenses like other agricultural activities like dairy animals, and maintenance of farming assets are included.
You will get an insurance after your Kisan credit card application has been accepted.
The tenure for a Kisan Credit Card loan is 5 years.
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