Kisan Credit Card (KCC) Yojana Full Details In Gujarati
Kisan Credit Card is a Government of India scheme which aims to save farmers from high-interest rates usually charged by money lenders in the unorganised sector. The interest rate can be as low as 2.00% under this scheme. Moreover, the repayment period is based on the harvesting or marketing period of the crop for which the loan amount was taken. Other details are given below.
The features and benefits of Kisan Credit Card are:
Interest rate can be as low as 2.00%
Collateral free loans up to Rs. 1.60 lakh
Crop insurance scheme is also provided to farmers
Following Insurance coverage is provided
Up to Rs. 50,000 against Permanent Disability and Death
Up to Rs. 25,000 is provided against other risks
Repayment period is based on the harvesting and marketing period of the crop for which the loan amount was taken out
Loan amount up to Rs. 3.00 lakh can be taken out by the card holder
Collateral is not required on loans up to Rs. 1.60 lakh
Farmers get high interest rate on the savings in their Kisan Credit Card Account
Simple interest rate is charged as long as the user makes prompt payment. Otherwise compound interest rate becomes applicable
The Kisan Credit Card scheme was set by NABARD (National Bank for Agriculture and Rural Development) and has been followed by all the major banks in India. Top banks that offer KCC are:
State Bank of India – State Bank of India is one of the largest issuers of Kisan Credit Cards. The interest charged on SBI Kisan Credit Card can go as low as 2.00% per annum on loans up to Rs. 3.00 lakh.
Punjab National Bank – PNB Kisan Credit Cards are one of the most requested credit cards. The application process is quite easy and users can expect speedy disbursal post processing.
HDFC Bank – HDFC Bank Kisan credit cards offer loans at an interest rate of around 9.00%. Maximum credit limit that is offered is Rs. 3.00 lakh. Cheque book with credit limit of Rs. 25,000 is also issued. Moreover, in case a farmer suffers from crop failure then they can get an extension up to 4 years or more. Insurance coverage is also provided against crop loss because of natural calamities or pest attacks.
Axis Bank – Axis Bank Kisan Credit Cards offer loans charging interest rate starting from 8.85%. However, they provide loans at an interest rate lower than this in line with government subvention schemes.
Kisan Credit Card Yojana
KCC Yojana
Full Details In Gujarati
For Detail Click Below.
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