Kisan Credit Card Loan Yojana 2024: Farmers often face the challenge of securing funds for agricultural activities. To address this, the government introduced the Kisan Credit Card Loan Yojana 2024. Alongside other schemes like Khedut Akasmat Vima Yojana and Pradhan Mantri Kisan Samman Nidhi Yojana, this initiative aims to provide farmers with affordable credit. If you’re a farmer unfamiliar with this scheme, you’re missing out on significant benefits. This article will guide you through the Kisan Credit Card Scheme and its advantages.
What is Kisan Credit Card Loan Yojana 2024?
The Kisan Credit Card (KCC) is a type of loan provided by banks to farmers at affordable interest rates. Introduced in 1998 by the Government of India, the Reserve Bank of India (RBI), and NABARD, the scheme allows farmers to pledge their land documents and secure loans for agricultural purposes.
Kisan Credit Card Loan Yojana 2024
| Category | Details |
| Scheme Name | Kisan Credit Card Loan Yojana 2024 |
| Purpose | To provide affordable loans for agricultural and allied activities |
| Loan Amount | Up to ₹3,00,000 |
| Interest Rate | 4% per annum (includes 2% subsidy and 3% repayment incentive) |
| Eligibility | Farmers engaged in agriculture, dairy, poultry, or fisheries |
| Collateral-Free Loan | Up to ₹1,60,000 |
| Loan Tenure | 5 years (renewable upon repayment) |
| Required Documents | Aadhaar, PAN, income proof, land documents, bank passbook |
| Application Mode | Offline at the nearest bank branch |
| Benefits | Subsidized interest rates, flexible repayment, freedom from moneylenders |
| Supported Activities | Crop cultivation, livestock rearing, dairy farming, poultry, fish farming |
Benefits of Kisan Credit Card Loan Yojana
Simple Terms:
The terms and conditions for loans under this scheme are simpler compared to other government loans.
Lower Interest Rates
Loans are available at much lower interest rates compared to standard loans.
Freedom from Moneylenders:
Farmers can avoid exploitation by moneylenders and access formal credit.
Increased Productivity
With timely credit, farmers can invest in irrigation and better farming techniques, boosting their yields.
Interest Rates for Kisan Credit Card Loans
Farmers can avail of loans up to ₹3 lakhs at an interest rate of 4%.
The central government provides a 2% subsidy on the interest rate.
If the loan is repaid on time, farmers receive an additional 3% incentive.
Kisan Credit Card Loan Tenure
The KCC functions like an overdraft account, allowing farmers to deposit and withdraw money as needed. The card is valid for 5 years and can be renewed upon repayment of interest.
Required Documents for KCC Loan
To apply for the Kisan Credit Card Loan Yojana, you will need the following documents:
Aadhaar Card
PAN Card
Bank Passbook
Income Certificate
Address Proof
Caste Certificate
Land Documents
Mobile Number and Passport-Sized Photograph
How to Apply for Kisan Credit Card Loan Yojana 2024
Visit the Bank: Go to your nearest bank branch offering the scheme.
Collect the Application Form: Request the KCC application form from the bank.
Fill Out the Form: Complete the form with accurate details.
Attach Documents: Attach all required documents with the application.
Submit the Form: Submit the completed application form to the bank.
Important Links
| Kisan Credit Card Loan Yojana 2024 | View |
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