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Kisan Credit Card: Get loan of up to Rs 3 Lakh, Check Application Process

Kisan Credit Card scheme is a central scheme that provides timely loans to farmers. This scheme (KCC Scheme) was started in 1998 with the aim of providing short-term formal credit to the farmers.

Shivam Dwivedi
Kisan Credit Card (KCC)

Kisan Credit Card scheme is a central scheme that provides timely loans to farmers. This scheme (KCC Scheme) was started in 1998 with the aim of providing short-term formal credit to the farmers.

PM Kisan Credit Card has now been linked to the Pradhan Mantri Kisan Samman Nidhi Yojana (PM Kisan). Farmers can take loans up to Rs 3 lakh from KCC at a 4% interest rate. It has also become easy for PM Kisan beneficiaries to apply for KCC Scheme.

As per PIB, “During the corona period, more than 2 crore Kisan Credit Cards were issued, most of which were given to small farmers. Such farmers will be benefited from the upcoming agricultural infrastructure and connectivity infrastructure in the country”.

Kisan Credit Card was introduced to fulfill the credit requirement of farmers in the agriculture, fisheries, and animal husbandry sector. This was done by assisting them to get short-term loans and also by providing them with a credit (KCC scheme) limit for buying equipment and their other expenses.

Moreover, with the help of KCC, farmers are exempted from the high-interest rates of regular loans given by banks as the interest rate for KCC is less than 2 percent and the average is 4 percent. With the help of this scheme, farmers can repay their loan based on the period of harvesting of their crop for which the loan was given.

How to Apply:

Farmers can also apply for Kisan Credit Card (KCC Scheme) through the State Bank of India. SBI has initiated this online service to facilitate KCC review. SBI tweeted: “Empowering farmers by facilitating KCC review facility on YONO agriculture platform! SBI Kisan customers can now apply for Kisan Credit Card review without visiting the branch, having to download the SBI YONO app”.

Here are the steps to apply online:

  • First, you have to log in to: https://www.sbiyno.sbi/index.html

  • Then go to the Yono Krishi

  • After that go to Khata (Account)

  • Go to KCC Review Section and click apply

From February 2020, the central government is running a special campaign to provide Kisan Credit Card to the farmers who have availed the benefits of PM Kisan Yojana and the 10th installment of PM Kisan Yojana will soon be available to the farmers.

After linking Kisan Credit Card with PM Kisan Yojana, the central government had announced to issue Kisan Credit Card to 2.5 crore farmers. Till now 1.5 crore farmers have been given Kisan Credit Cards (KCC Scheme). Under this scheme, a target has been set to give Rs 2 lakh crore as a loan to the farmers.

KYC not required:

After linking PM Kisan Yojana with Kisan Credit Card (KCC Scheme), farmers don’t need to get KYC done. To get Kisan Credit Card, now farmers have to fill in only a one-page form. This form can be downloaded from the website: pmkisan.gov.in

Things to keep in mind while applying for KCC:

The minimum age of the farmer applying for a Kisan Credit Card should be between 18 to 75 years. Applicants, more than 60 years of age will also need a co-applicant to apply. Under the Kisan Credit Card (KCC Scheme), a farmer can get a loan of up to Rs 3 lakh for farming.

This amount will be paid to the farmer at an interest rate of 4 percent. Apart from farmers, those who are involved in animal husbandry, fisheries can also apply for agricultural loans under Kisan Credit Card (KCC Scheme). It’s not mandatory for the applicant to have agricultural land. Persons involved in Animal husbandry or fisheries can take a Kisan Credit Card loan up to Rs 2 lakh at an interest rate of 4 percent.

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