The government’s aim to double farmers’ income has led to the initiation of the Kisan Credit Card Yojana. In this article, we will provide you with all the details about the Kisan Credit Card Yojana. By reading this article, you will gain comprehensive information about the scheme, including what the scheme entails, its advantages, goals, characteristics, eligibility criteria, required documents, and the application process. Therefore, if you wish to obtain a thorough understanding of the Kisan Credit Card Yojana, we encourage you to read this article in its entirety.
Kisan Credit Card Yojana 2023
The Kisan Credit Card Scheme offers farmers in India access to credit cards with a loan limit of up to Rs 1.6 lakh. This loan can be utilized by farmers to enhance their agricultural practices and even get their crops insured. Notably, the scheme has been expanded to include cattle rearers and fishermen. Farmers can apply for a credit card under the Kisan Credit Card Yojana, and the loan is provided at a 4% interest rate without requiring collateral or guarantees. If you wish to obtain a credit card under this scheme, you can follow the procedure outlined on the official website.
Kisan Credit Card Yojana Highlights
| Yojana Name | Kisan Credit Card Yojana |
| Initiated by | Central Government |
| Beneficiary | Farmer Country |
| Objective | To Provide Low Interest Loan |
| Application Process | Online |
| Official website | https://pmkisan.gov.in/ |
Banks Covered Under Kisan Credit Card Yojana
The Kisan Credit Card facility is offered by numerous banks, including major ones such as:
- HDFC Bank
- Bank of India
- Axis Bank
- Punjab National Bank
- State Bank of India
- ICICI Bank
- Bank of Baroda
Under this scheme, all beneficiary farmers will receive a credit card or passbook. This document will contain essential information about the farmer, such as their name, address, landholding details, borrowing limit, and validity period. The beneficiary farmer is typically required to affix one of their Passport-Sized Photographs in the passbook or credit card.
New interest Rate of Kisan Credit Card Yojana
The Kisan Credit Card Scheme was initiated in 1998, and it has undergone various updates over the years. In response to the COVID-19 pandemic, the government announced a new interest rate for the Kisan Credit Card scheme. As part of a special campaign, Prime Minister Narendra Modi distributed Kisan Credit Cards to over 25 lakh beneficiaries in the Chitrakoot district of Uttar Pradesh. This initiative involved more than 2,000 bank branches.
- Under the Kisan Credit Card Scheme, beneficiaries are typically charged a 7% annual interest rate on the credit card. The scheme offers agricultural insurance for both crops and the area cultivated. Additionally, the funds left unutilized in the KCC account earn interest at the savings bank rate.
- Farmers who repay their loans within one year are eligible for a 3% interest rebate and a 2% subsidy, resulting in a total discount of 5%. This means that if the farmer settles the loan within one year, they will only have to pay 2% interest on loans up to ₹3,00,000. To apply for the Kisan Credit Card Scheme, you can visit the official website and follow the online application process.
Features of Kisan Credit Card
- Beneficiaries of PM Kisan Samman Nidhi Yojana can also benefit from the Kisan Credit Card Scheme.
- To access these benefits, farmers must submit a form to their respective banks.
- The government is actively issuing Kisan credit cards under the Self-reliant India scheme.
- These credit cards facilitate easy access to loans for farmers at favorable interest rates.
- If a farmer’s Kisan Credit Card is closed for any reason, it can be easily reactivated.
- Kisan Credit Cards typically have a validity period of 5 years.
- Using the KCC form on the official PM Kisan Samman Nidhi Yojana website, farmers can increase their card’s credit limit and reactivate closed cards.
- Beneficiaries can secure loans up to ₹300,000 through the Kisan Credit Card, with an interest rate of 9%.
- The government provides a 2% interest subsidy, resulting in a reduced interest rate of 7% for farmers.
- Farmers who repay their loans on time receive an additional 3% rebate, lowering their effective interest rate to 4%.
Benefits of Kisan Credit Card Yojana 2023
- The Kisan Credit Card Yojana 2023 is open to all farmers across the country.
- This scheme extends its benefits to all farmers who are enrolled under the Prime Minister Kisan Samman Nidhi Yojana.
- The Central Government will offer a loan of Rs 1,60,000 to farmers through this credit card.
- Farmers can enhance their agricultural practices with these loans, leading to improved farming.
- This scheme aims to benefit a total of 14 crore farmers nationwide.
- The primary goal is to alleviate the interest burden on farmers.
- Farmers can access loans through the Kisan Credit Card scheme from any bank.
Document Required For Kisan Credit Card Yojana 2023 (Eligibility)
Here is a list of documents and requirements for obtaining a Kisan Credit Card:
- Ownership or access to cultivable land.
- Engagement in agricultural activities, whether it’s on their own land, working on others’ land, or involved in crop production.
- Aadhar Card as an identity proof.
- Indian residency status.
- A copy of the Land Records or documents.
- PAN Card for financial transactions and records.
- A valid mobile number for communication.
- Passport-sized photos for documentation and identification.
How to Apply offline for Kisan Credit Card Yojana?
To apply for the Kisan Credit Card under this scheme, farmers need to follow these steps:
Step-1: Visit the nearest bank branch with all the required documents.
Step-2: Request the application form for the Kisan Credit Card Scheme from the bank officer.
Step-3: Fill out the application form with all the necessary information.
Step-4: Attach all the required documents to the application form.
Step-5: Submit the completed application form along with the attached documents to the bank official.
Step-6: The bank will verify your application, and if it meets the eligibility criteria, you will receive your Kisan Credit Card within a few days.
How to Apply Kisan Credit Card Online?
To apply for the Kisan Credit Card (KCC) through the PM Kisan Samman Nidhi Yojana website, please follow these steps:
Step-1: Visit the official website of PM Kisan Samman Nidhi Yojana.
Step-2: On the homepage, locate and click on the “Download KCC Form” option.
Step-3: Download the KCC Application Form in PDF format.
Step-4: Fill out the application form with all the required information.
Step-5: Attach all necessary documents to support your application.
Step-6: Submit the completed application form along with the attached documents to the bank where your account is held.
By following these steps, you can apply for a Kisan Credit Card through the PM Kisan Samman Nidhi Yojana website.
Upon successful verification of the farmer’s provided data, the application will be accepted and forwarded to the bank branch where the farmer’s Kisan Samman Nidhi Yojana amount is received. Approved applicants will receive their Kisan Credit Cards within 15 days. To ensure transparency, the application software will be monitored by the Deputy Agriculture Director, District Magistrate, and Leading District Manager.
Process to Apply Through Bank under Kisan Credit Card Yojana
To apply for a Kisan Credit Card (KCC) through the bank’s official website, follow these steps:
Step-1: Visit the official website of the bank where you wish to apply for the Kisan Credit Card.
Step-2: Once on the bank’s homepage, locate the “Kisan Credit Card Form” option.
Step-3: Click on the “Apply Now” option.
Step-4: You will be directed to an application form.
Step-5: Fill in all the required information on the application form, including your name, mobile number, email ID, and any other details as requested.
Step-6: Upload all the necessary documents as specified in the application form.
Step-7: Finally, click on the “Submit” button to send your application.
By following these steps, you can apply for a Kisan Credit Card through the bank’s official website.
Process of Increasing the Limit of Kisan Credit Card or Reactivating a Closed Card.
To increase the limit of your Kisan Credit Card ( KCC ) or to reactivate it, you can follow these steps:
Step-1: Visit the official website of PM Kisan.
Step-2: On the homepage, navigate to the “Farmer’s Corner” section.
Step-3: Click on the “KCC Form” option.
Step-4: Download the Kisan Credit Card (KCC) form from this section.
Step-5: After Download KCC Form, print it out.
Step-6: Fill in the form with the required information.
Step-7: Submit the filled form along with all the necessary documents to the nearest bank.
By following these steps, you can apply to increase your Kisan Credit Card (KCC) limit or reactivate your card.
Kisan Credit Card Contact Information
For any assistance or inquiries regarding the Kisan Credit Card Scheme, you can contact the helpline at 011-24300606. They will be able to provide you with the necessary information and guidance to address your concerns.
Conclusion – Kisan Credit Card scheme represents a significant step toward providing financial security and growth opportunities to farmers in India. It remains an essential component of the nation’s agricultural development, reinforcing the government’s commitment to supporting those who feed the nation.
FAQs – Apply Online for Kisan Credit Card
What is the Kisan Credit Card (KCC) Yojana?
The Kisan Credit Card (KCC) scheme is a government initiative aimed at providing farmers with a credit card to help them secure affordable agricultural loans, ensuring better financial support for farming activities.
Who is eligible to apply for a Kisan Credit Card?
Eligibility for a Kisan Credit Card typically includes individuals engaged in farming or related agricultural activities, including farmers, self-help groups, joint liability groups, and tenant farmers.
What are the key benefits of a Kisan Credit Card?
Kisan Credit Cards offer numerous benefits, including access to agricultural credit at subsidized interest rates, timely financial support for crop production and related expenses, and flexibility in loan repayment.
How can I apply for a Kisan Credit Card online?
To apply for a Kisan Credit Card online, you will need to visit the official website of your respective bank, download the KCC application form, fill in the required details, attach the necessary documents, and submit the application. Make sure to follow the specific procedure outlined by the bank you choose.
What documents are required to apply for a Kisan Credit Card?
The necessary documents may include proof of identity, proof of residence, land records, photographs, and any additional documents requested by the bank. The exact document requirements may vary by bank.
How long does it take to receive a Kisan Credit Card once I’ve applied?
Once you’ve submitted your application, you can typically expect to receive your Kisan Credit Card within 15 days, provided your application is approved.
Can PM Kisan Samman Nidhi Yojana beneficiaries apply for Kisan Credit Cards?
Yes, beneficiaries of the PM Kisan Samman Nidhi Yojana are eligible to apply for Kisan Credit Cards to avail benefits such as agricultural loans at subsidized interest rates.
Can the credit limit of a Kisan Credit Card be increased?
Yes, farmers can increase the credit limit of their Kisan Credit Cards by filling out the KCC form available on the official PM Kisan Samman Nidhi Yojana website.
What is the interest rate for loans obtained through Kisan Credit Cards?
Loans obtained through Kisan Credit Cards typically have a 7% interest rate. However, this rate may vary depending on the bank and the specific terms of the loan.
Is there a rebate or subsidy available on Kisan Credit Card loans?
Farmers who repay their Kisan Credit Card loans on time may receive a 3% rebate on the interest rate. This means they may only need to pay 4% interest on their loans.