Kisan Credit Card: Know Features, Documents Required To Apply. A Step-By-Step Guide Here

Here is a step-by-step guide for applying for Kisan Credit Cards. Know features, documents required and other details.

New Delhi: Kisan Credit Card Loan Scheme, launched by Government of India in 1998, is one of the schemes aimed at providing short term loans to farmers in the agriculture, fisheries and animal husbandry sector. Through this, farmers can avail short term loans that help them to purchase equipment and manage other expenses.

The farmers are exempted from high interest rates of other loans as Kisan Credit Card schem starts interest rates as low as 2 per cent, with the average interest rate being 4 per cent. Farmers can repay the loans depending on the harvesting period of their crops.

FEATURES OF KISAN CREDIT CARD:

•  Farmers can take loans up to Rs. 3 Lakhs and also avail marketing loans.
• It also provides insurance cover for scheme holders up to Rs. 50,000 in case of permanent disability or death and Rs. 25000 in case of other risks.
•  It provides assistance in the purchase of fertilizers, seeds, etc. as well as in availing cash discounts from merchants/ dealers.
•  Credit is available for a period of up to 3 years and repayment can be made once the harvest season in over.
•  No collateral will be required for loans amounting up to Rs.1.60 lakh.

The government also launched another scheme called PM Kisan Samman Nidhi Scheme through which all farmers can avail up to Rs.6,000 every year as their income support. All beneficiaries under the Kisan Samman Nidhi Scheme can now get a Kisan Credit Card.

DOCUMENTS REQUIRED FOR KISAN CREDIT CARD:

• Duly filled-in and signed-in application form.
• Copy of identity proof such as Aadhaar card, PAN card, Voter ID, driving licence, etc.
• Copy of address proof document such as Aadhaar card, PAN card, Voter ID, driving licence. The proof should have the applicant’s current address to become valid.
• Land documents.
• A passport size photograph of the applicant.
• Other documents such as security PDC as requested by the issuing bank.

HOW TO APPLY FOR KISAN CREDIT CARDS?

The application process for the Kisan Credit Card can be done online, as well as, offline.

HERE IS HOW TO APPLY ONLINE FOR KISAN CREDIT CARD:

1. Visit the website of the bank you wish to apply for the kisan credit card scheme.
2. From the list of options, choose the Kisan Credit Card.
3. On clicking the option of ‘Apply’, the website will redirect you to the application page.
4. Fill the form with the required details and click on ‘Submit’.
5. On doing so, an application reference number will be sent.
6. If you are eligible, the bank will get back to you for the further process within 3-4 working days.

HERE IS HOW TO APPLY OFFLINE FOR THE KISAN CREDIT CARD:

Offline applications can be done by visiting the branch of the bank of your choice or by downloading the application form from the website of the bank as well. The applicant can visit the branch and begin the application process with the help of the bank representative. Once the formalities are done, the bank’s loan officer can help with the loan amount for the farmer.