A Kishan Credit Card (KCC) is a scheme that provides credit to farmers in India for their agricultural needs. The scheme was introduced in 1998 by the Ministry of Agriculture and Farmers’ Welfare.
The Kisan Credit Card (KCC) scheme was introduced in 1998 to issue Kisan Credit Cards to farmers based on their holdings for uniform adoption by the banks so that farmers may use them to readily purchase agriculture inputs such as seeds, fertilizers, pesticides, etc., and draw cash for their production needs.
Benefits of Kishan Credit Card (KCC):
- Provides short-term credit for crop cultivation
- Helps with post-harvest expenses
- Provides loans for marketing produce
- Helps with consumption needs for the farmer’s household
- Provides working capital for farm assets and activities
- Helps farmers purchase agriculture inputs like seeds, fertilizers, and pesticides
How does KCC work?
- The government provides an interest subvention of 2% and a Prompt Repayment Incentive of 3% to farmers
- This makes the credit available at a subsidized rate of 4% per annum
- Banks can adopt the scheme to suit the requirements of their institution or location.
Farmers and individuals involved in agribusiness can apply for a Kisan Credit Card (KCC). The KCC is a credit card scheme that provides farmers with financial support for crop cultivation and other working capital needs.
Who can apply?
- Farmers who are involved in crop production or related activities
- Individuals who develop on others’ property
- Applicants between the ages of 18 and 75
- Applicants over 60 years of age must have a co-applicant
How to apply for a Kishan Credit Card:
- Visit the bank’s website or mobile banking app
- Go to the “Agri Loans” section
- Select “Kisan Credit Card”
- Click “Apply” or “Download Application Form”
- Fill out the application form
- Click “Submit”
Documents required
- Application form
- Two passport-sized photographs
- Proof of identity
- Proof of address
- Cropping pattern
- Proof of landholding
- Security documents for loan limits above a certain amount
Address Proof such as a Driving License, and Aadhar Card. Proof of landholding duly certified by the revenue authorities. Cropping pattern (Crops grown) with acreage. Security documents for loan limit above Rs.1.60 lakhs / Rs.3.00 lakhs, as applicable.
