Kisan Credit Card (KCC) is a credit card designed for farmers in India. It is issued by banks and provides farmers with easy access to credit for agricultural purposes. The card is issued to individual farmers, including small and marginal farmers, and joint liability groups of farmers, and provides them with credit for their agricultural and allied activities.
Validity of the KCC The validity of the KCC is 3 years. After the expiration of the card, farmers can renew their card and continue to avail of credit facilities.
Collateral and Insurance In KCC
collateral is not required for loans up to Rs 1.60 lakh. The insurance coverage for KCC scheme holders is up to Rs 50,000 in the case of permanent disability or death. A cover of Rs 25,000 is given in the case of other risks.
Banks Offering KCC Several banks in India offer the KCC scheme.
Some of the major banks include SBI, HDFC Bank, ICICI Bank, Axis Bank, Central Bank of India, UCO Bank, and Indian overseas, among others.
Loan Eligibility To be eligible for the KCC scheme, the borrower should:
- Be a minimum of 18 years of age and a maximum of 75 years
- Be an owner-cultivator or belong to a group of joint borrowers who are owner-cultivators
- Be a sharecropper, tenant farmer, or oral lessee
- Belong to a self-help group (SHG) or joint liability group (JLG) of sharecroppers, farmers, tenant farmers, etc.
- Be involved in the production of crops or allied activities such as animal husbandry along with non-farm activities such as fishing.
Documents Required The following documents are required to apply for the KCC scheme:
- Duly filled-in and signed application form
- Copy of identity proof such as an Aadhaar card, PAN card, Voter ID, driving licence and etc.
- Copy of address proof documents such as an Aadhaar card, PAN card, Voter ID, and driving licence.
- Land documents
- A passport-size photograph of the applicant
- Other documents such as security PDC as requested by the issuing bank
Steps to Apply Applying for the KCC scheme is a simple process. Here are the steps:
- Step 1: Visit the website of the bank you wish to apply for the Kisan Credit Card scheme.
- Step 2: Click on the Kisan Credit Card option.
- Step 3: On clicking the option of ‘Apply’ and the website will redirect you to the application page.
- Step 4: Fill out the form with the required details and click on ‘Submit’.
- Step 5: An application reference number will be sent.
- Step 6: The bank will get back to you for the further process within 3-4 working days if you are eligible.
The KCC scheme is a useful facility for farmers in India. With this scheme, farmers can access credit easily and improve their agricultural productivity and income. The scheme also offers insurance coverage to protect farmers in case of disability or death. If you are a farmer, be sure to check with your bank if you are eligible for the scheme and apply for it.