In India, farmers are often regarded as the backbone of the nation, yet they face numerous challenges in sustaining their livelihoods. To address the financial struggles of farmers and improve their quality of life, the Central Government has introduced various schemes, one of which is the Kisan Credit Card (KCC) Scheme. This initiative allows farmers to access affordable loans for essential agricultural needs . Let’s dive into the key details of the scheme.
Loan of Up to ₹3 Lakh
Under the KCC scheme, farmers can avail loans of up to ₹3 lakh. This financial aid helps farmers invest in their farms and purchase agricultural equipment, providing crucial support for their agricultural activities.
Low-Interest Rates
One of the major benefits of the KCC scheme is its competitive interest rate of just 4%, making it easier for farmers to borrow funds and invest in their farming practices without a heavy financial burden.
Insurance Coverage for Farmers
KCC holders also receive added protection through an insurance cover. In the event of death or permanent disability, the insurance provides ₹50,000 in coverage, while ₹25,000 is offered for other unforeseen circumstances.
Savings Account Benefits
Farmers eligible for the KCC scheme can also open a savings account linked to their Kisan Credit Card. This account comes with attractive interest rates, offering an additional financial benefit while enhancing credit accessibility.
Broad Eligibility
The KCC scheme is available to all farmers in India, including those enrolled under the PM Kisan Yojana . The broad eligibility ensures that a wide range of agricultural workers can benefit from this financial assistance .
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Who Can Apply?
Farmers between the ages of 18 and 75 are eligible to apply for a Kisan Credit Card. This wide age range ensures that both younger and older farmers can access the credit needed to support their agricultural activities.
How to Apply for the Kisan Credit Card:Visit a Bank Branch: Visit your nearest bank offering KCC services.Get the Application Form: Request the Kisan Credit Card application form.Prepare Required Documents: Attach necessary documents such as address proof, income certificate, and identity proof.Submit the Form: Submit your completed form to the bank for verification.Receive Your Card: Once verified, you will be issued a Kisan Credit Card.
The Kisan Credit Card Yojana is designed to provide financial assistance to farmers, helping them overcome economic challenges and boost agricultural productivity. Through low-interest loans and added benefits like insurance and savings accounts, this scheme offers a comprehensive solution for the financial needs of Indian farmers.
