Kisan Credit Card Scheme: Farmers to get Rs 300000 loan at 4 per cent

The government has issued the Kisan Credit Card scheme to help farmers become self-reliant and worry-free. Under the scheme, farmers can get a loan amounting to Rs 3,00,000 at a 4 per cent interest

The government is trying to make farmers self-reliant and “worry-free” and to that end, it has issued a Kisan Credit Card (KCC).

The central government's Kisan Credit Card Scheme helps farmers to spend up to 3 lakh rupees after opening an account in SBI or any other bank.

This card will help farmers in ploughing before growing or buying seeds.

The government will allow farmers loans at a very low-interest rate. The farmers will get the loan at only a 4 per cent interest rate after the rebate.

The Kisan Credit Card scheme aims to provide loans to farmers at low-interest rates and financial assistance to smoothly complete agriculture work. Through Kisan Credit Card, farmers can take loans of up to Rs 3 lakh at a maximum rate of 7 per cent, but the government will allow a rebate of 3 per cent to farmers who return the loan on time. Consequently, farmers had to pay only 4 per cent interest on loans taken under the scheme.

 

Who can take the benefits of the Kisan Credit Card Scheme?

Any farmer between the age of 18 to 75 years. Under this scheme, farmers can take loans for manure seeds, agricultural machines, fish farming, animal husbandry and many other types of agriculture-related works.

How to download KCC from the PM Kisan portal?

To take advantage of the Kisan Credit Card scheme, farmers have to download the KCC from the PM Kisan portal. Beyond Aadhar Card and Pan card, the applicant has to enter their farming details and other information in the form and open the account by depositing in the nearest SBI branch or other bank branches, and then the amount will be transferred to the respective amount.