How a Kisan Credit Card Has Been Empowering The Agriculture Sector Of Our Country?

Among all the important categories in our country, the agriculture sector holds quite an important place. Farmers in our country often don’t believe in taking loans from the banks due to some misconception and ends up borrowing from the local lenders and non-banking sources. These loans often come at a high rate of interest and without proper documentation. To make the farmers of our country financially empowered, Kisan Credit Card (KCC) scheme was launched in 1998 to provide term loans and agricultural loans to the farmers.

The KCC was established by the National Bank for Agriculture and Rural Development (NABARD) and since then, various public & private sector banks and financial institutions have been providing this credit card scheme to the needy farmers. A KCC loan scheme covers many things like the cost of cultivation, harvest and land maintenance. When farmers are less worried about the hefty interest and financial part, they can have a much better focus on the agricultural part, hence making them able to function in an organized way. This article will give you information about all the aspects related to KCC and the KCC Loan scheme.

What are some exciting features of the Kisan Credit Card (KCC) Loan Scheme?

• All types of agricultural farmers can apply for the KCC Loan scheme doesn’t matter if they are landowners, tenant farmers, or shareholders.  
• The convenient credit process has made it easier for illiterate farmers to get the KCC Loan.
• Flexibility in repayment has made the KCC so efficient among the farmers as in the case of a bad crop season, they can get their repayment period to extend from the original period.
• Farmers can also withdraw cash with their KCC in the case of any emergency.
• The rate of interest in the KCC Loan scheme is quite low compared to other loan schemes. 
• Farmers can increase their credit card limit according to their agricultural income.
• The farmers also get the insurance scheme with their KCC Loan scheme through which they get insured against the notified crops.
• The loan disbursal process is quite quick so the farmers get the amount when they need it.
• The loan amount given in the KCC Loan scheme depends upon various factors such as the land size, cultivated crop, past credit history of the farmer, and many others.
• Different banks have different terms when it comes to the collateral or security against the loan.

How can you apply for a Kisan Credit Card Loan scheme?

Almost all the leading banks provide the facility of opting for the KCC Loan scheme and one can apply for it via online and offline mode of application. For the online mode, you can go to the bank’s website and apply it online by submitting all the required details. The application process generally takes 3 to 4 days after. After checking all the details, an executive from the bank will get in touch with you and complete the remaining documentation.

If you want to apply for this in an offline way, then you can visit the nearest branch and apply for the loan over there with all the required documents. The required documents are mentioned below.

1. Completely filled-in application form
2. Identity Proof (Aadhar Card/ PAN Card/ Driving Licence)
3. Address Proof (Voter ID Card/ Electricity Bill/ Aadhar Card)