કિસાન ક્રેડિટ કાર્ડ લોન યોજના 2024:Kisan Credit Card Loan Yojana 2024
The major financial scheme launched by Indian government for the farmers is the Kisan Credit Card (KCC) Loan Yojana 2024. This plan is aimed at helping farmers as it will provide them with loans for carrying out the farming activities at a lowest cost of borrowing that is, low cost borrowing guarantee that farmers are not trapped by high cost debts. Get a complete Kisan Credit Card Loan Yojana 2024 guide for the Agriculture farmer’s financial requirements for the loan with all the details required at every stage.
Overview of the Kisan Credit Card Loan Yojana 2024
- Scheme Name: KCC- Kisan Credit Card Loan Yojana
- Initiated By: Central Government in 1998
- Beneficiaries: And with farmers across India.
- Objective: For the purpose of offering credits at a very regulated rate of interest to farmers.
- Loan Amount: Up to INR 3 Lakhs for which the interest rate is fixed and for amounts greater than 3 Lakhs, the interest rate changes.
- Interest Rate: 4% is the interest rate charged on loans that are not more than INR 3 lakhs.
Benefits of the Kisan Credit Card Loan Yojana
Easy Terms: It can also be noted that the conditions for borrowing a loan under this scheme are less stringent than of other government loans.
Low-Interest Rate: Farmers may borrow at 4% interest rate which is more preferable than what commercially established banks offer.
Relief from Moneylenders: The scheme saves farmers from exploitative high interest charges of moneylenders so they are shielded.
Increased Production: Therefore, Access to cheap credit enable farmers to invest in their farms especially for irrigation and better yields.
Interest Rates and Subsidies
The amount for which interest rate under the Kisan Credit Card scheme is fixed at 4% is up to INR 3 lakhs. The central government supplements interest rate by 2 percent for all the loans. Farmers are also offered 3% bonus for early repayment of the loan, thus the real interest rate that will be charged falls to as low as 1%.
Required Documents
To apply for the Kisan Credit Card Loan Yojana, farmers need to submit the following documents:To apply for the Kisan Credit Card Loan Yojana, farmers need to submit the following documents:
- Aadhaar Card
- PAN Card
- Bank Passbook
- Income Certificate
- Address Proof
- Caste Certificate
- Land Documents
- Name of the candidate and their Democratic mobile number and passport-sized photographs.
How to Apply for the Kisan Credit Card Loan Yojana 2024
Follow these steps to apply for the KCC loan:Follow these steps to apply for the KCC loan:
Visit the Nearest Bank: Proceed to the nearest branch of the bank that was enlisted in the KCC scheme.
Obtain the Application Form: Apply by requesting for KCC loan application form at the bank.
Fill the Application Form: Generally, ensure all the details filled in the form are correct.
Attach Required Documents: Every document availing in the form mentioned above must be attached with the application form.
Submit the Application: To complete the process, enclose the accomplished application form together with other necessary papers that are required in the bank.
Verification and Approval:Your documents shall be affirmed by the bank and if you meet the requirements you shall be granted a loan. Once your applications is approved you will be issued with the Kisan Credit Card.
FAQs
1. What is the purpose of ruling the Kisan Credit Card Loan Yojana 2024?
The main aim is to extend credit facilities with much lower interest rates to the farmers for their farming business.
2. What has been the interest rate on the loans under KCC scheme?
The basic interest rate is 4% for loans amounting up to INR 3 lakhs, here, one can get some incentives that bring the interest rate further down to 1% for early repayment.
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