Kisan Credit Card: To raise farmers’ incomes, the central government is implementing a number of programmes. Kisan Credit Card is one of these government programmes. Farmers that use the Kisan Credit Card are eligible for discounted interest rates. You don’t need to worry if you haven’t made a Kisan Credit Card yet. KCC Saturation Drive is a new effort launched by the Central Government.
KCC Supports Farming, Fishing, and Animal Husbandry Ventures
Farmers may apply for loans under KCC to launch any business ventures pertaining to farming, fishing, or animal husbandry. This loan has a brief duration. The Central Government’s KCC Saturation Drive campaign commenced on October 1st and will run until October 31st. The deadline to apply for the card is October 31st. By November 14th, the bank will produce the card and deliver it to them.
Low-Interest Rates and Flexible Repayment Options
Farmers are spared the hefty interest rates associated with standard bank loans under the KCC plan. Farmers find it easier to repay their loans with KCC because interest rates range from 2% to 4% on average. Additionally flexible is the loan payback schedule. This is contingent upon the length of the loan period used for agricultural harvesting. Farmers who meet specific requirements, such as being an owner-farmer, tenant farmer, sharecropper, or part of a joint liability or self-help group, are eligible to apply for a Kisan Credit Card. They ought to engage in non-agricultural pursuits like fishing as well as related ones like animal husbandry and crop production.
NABARD’s KCC Scheme and Its Perks
The National Bank for Agriculture and Rural Development (NABARD) launched the KCC Scheme in 1998 as a government effort with the goal of lending short-term money to farmers. Low interest rates, flexible repayment plans, insurance coverage, and additional advantages like competitive interest rates on savings accounts, smart cards, and debit cards are just a few of the advantages of utilising the Kisan Credit Card.
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