What is the use of Kisan Credit Card?

Credit Card

Kisan Credit Card was launched by the Government of India in 1988. To provide short term formal credit loan to the tenant farmers and the cultivators for their agricultural needs, Kisan Credit Card was initiated. The farmers can use the Kisan Credit Card scheme for crop production, buy pesticides, seeds, etc. Along with offline mode, you can opt for Kisan Credit Card online apply. Based on the eligibility for Kisan Credit Card, Kisan Credit Card interest rate is charged starting from 9% to 14% p.a. To reduce the farmer’s debt burden, the repayment depends on the harvesting season.

Why choose Kisan Credit Card?

  • Kisan Credit Card scheme is the best alternative for informal credit sources to meet agricultural needs.
  • Kisan Credit Card interest rate is quite low and is pocket-friendly for the farmers.
  • Based on your credit history, Kisan Credit Card offers many subsidies to the farmers.
  • You can withdraw the required funds from the concerned bank’s any of the branches using this credit card.
  • For agricultural and allied activities, you can go for Kisan Credit Card online apply.
  • Under the Kisan Credit Card scheme, you can enjoy a hassle-free loan process with flexible repayment option.

Features of Kisan Credit Card

  • You can easily go for Kisan Credit Card online apply for hassle-free loan experience.
  • Based on agricultural income, you can increase the Kisan Credit Card limit.
  • Kisan Credit Card interest rate is quite low and budget-friendly, unlike other credit sources.
  • You can repay the Kisan Credit Card scheme within 3 to 4 years after the harvest season is over.
  • In case of crops damaged due to natural calamities, you can reschedule the loan.
  • If you are eligible for Kisan Credit Card, you will be issued a smart card cum debit card along with Kisan Credit Card.
  • Very minimum documentation is required for the Kisan Credit Card scheme.

Eligibility for Kisan Credit Card

Following are the eligibility for Kisan Credit Card-

  • Joint Liability Group of tenant, farmers or Self-Help Group
  • Joint Borrowers from the group of Owner Cultivators
  • Tenant farmer, sharecropper or an oral lessee
  • Marine farmers, dairy farmers, poultry farmers

Documents required for Kisan Credit Card

  • Duly filled application form
  • Land documents
  • Passport size photo
  • ID proof- PAN card, AADHAAR card, Voter ID card
  • Address proof- Electricity bill, Lease Agreement, AADHAAR card

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