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Ministry Of Agriculture and Farmers Welfare
Kisan Credit Card
The Kisan Credit Card (KCC) scheme was introduced in 1998 for issue of Kisan Credit Cards to farmers on the basis of their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs and draw cash for their production needs.
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Details
Benefits
Eligibility
Application Process
- Online
- Offline
Documents Required
Frequently Asked Questions
This validity period is 5 years. The tenure you do get depends on the type of activity you plan to use the money for
You should me a minimum of 18 years of age and be a maximum age of 75 years. If you are a senior citizen, then it is mandatory to have a co-borrower who is a legal heir.
The interest rate will be left to the discretion of the bank. However, according to the KCC circular dated 20 April 2012, the interest rate is 7% p.a. on short-term credit with a Rs.3 lakh upper limit on the principal amount.
Kisan Credit Card & Term loan
For limits upto Rs.1.60 lakh & limts up to Rs.3 lakh (in case of tie up), security is the hypothecation of crops. For limits above the specified norms, mortgage of land/ or third party guarantee in addition to hypothecated crops / asset
The interest subvention @2% and prompt repayment incentive benefit @3% on KCC loan (i.e. crop loan+ working capital loan for animal husbandry and fisheries) will be available on an overall limit of Rs. 3 lakh per annum and subject to a maximum limit of Rs. 2 lakh per farmer involved in activities only related to animal husbandry and / or fisheries.
Sources And References
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Notification