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Get Agricultural/Farm Loan of Rs 1.60 Lakh Without Guarantee; Complete Process Inside

Due to lack of money, farmers are not able to buy quality seeds, fertilizers or machines for cultivation.

Abha Toppo
Kisan credit card

Though we are in the 21st century with all latest technologies but still farmers in our country face many problems especially related to finance. Due to lack of money, they are not able to buy quality seeds, fertilizers or machines for cultivation. Seeing all these problems, the government had launched Kisan credit card for the farmers. KCC provides farmers with timely access to credit/finances.

To recall, the Central government last year had announced to provide Kisan Credit Card (KCC) to the beneficiaries of Pradhan Mantri Kisan Samman Nidhi Yojana, popularly known as PM-Kisan. As many as 11 crore farmers who are taking the benefit of PM-Kisan yojana can avail loans up to Rs 1.60 lakh without any guarantee. But if a farmer needs a loan above this amount then he will have to give security.

Agricultural loan of Rs 1.60 lakh without guarantee

Farmers in India can take an agricultural loan worth Rs 1.60 lakh without any guarantee for cultivation purposes. Few years back this limit was only up to Rs. 1 lakh. Moreover, now the Government has also made the loan procedure quite easier for the convenience of farmers. Minister of State for Agriculture & Farmers Welfare, Kailash Chaudhary said that farmers will get this loan through ‘Kisan Credit Card’ only.

The minister said that the government is providing loans without any guarantee so that farmers do not have to borrow money from lenders or private banks with huge interest.

Get extra benefit on timely payment

On timely payment, they will get a loan worth Rs 3 lakh at a 4% interest rate. For this, the banks have been asked to issue KCC within 15 days of submission of application for agricultural/farm loan. The government has also removed all the banks processing charges on Kisan Credit Cards. In addition, last year the facility has been extended to all dairy and fishery farmers.

Kisan Credit Card Loan online process

  • Visit the official website of your bank and open the loans section.

  • Look for the KCC loan link

  • Click on the "Apply Now" button.

  • Fill in all required details carefully.

  • Then click on the submit button.

Note: The application processing time is 4 to 5 business days.

If your application gets approved, a bank executive will contact you and tell you about the required documents and further procedures.

Kisan Credit Card Loan offline process

  • Go to your nearest bank branch and tell the loan officer that you want to apply for Kisan Credit Card.

  • Do not forget to carry all necessary documents with you at the time of registration.

  • By mentioning your mobile number in the application form, you will get all updates one by one on the phone until your loan is approved.

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