Kisan Credit Card Scheme 2020 | Apply Online For KCC

The Kisan Credit Card scheme was introduced in 1998 with the aim of providing short term credits to the farmers, cultivators and tenant farmers. Under this scheme attractive rate of interests were offered to farmers so that they can meet their agricultural needs. The Government of India is still trying to reach out to all the farmers of the nation and make them aware about this KCC scheme to save them from unformal borrowing and debt traps.

Important Update on KCC Scheme

Due to the Pandemic situation, the Finance Minister of India on 14th May announced a 2 lakh crore relief package for almost 2.5 crore farmers through Kisan Credit Cards. This also includes fishermen and husbandry farmers.

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How to Apply for Kisan Credit Card Scheme

Farmers can apply for the Kisan credit card from the online portal of Banks offering the scheme. Follow the step by step process given below to apply for the credit card.

  • First, you need to visit the preferred bank’s official portal. The list of banks offering Kisan credit card scheme is given below.
  • Visit the agriculture or Kisan loans section of the bank’s portal as shown in the image below.
Kisan Credit card scheme
  • Look for the Kisan credit card scheme and click on apply.
  • You will be redirected to the application form page where you need to provide the essential details carefully and submit it to the bank.
  • After submitting the application form you will receive the reference or application number from the bank.

You will receive a call from the bank within 3 to 4 days for a further procedure like document collection. If the process of verification and eligibility check is done successfully then you will receive your credit card at your registered address.

Farmers can also apply offline for the credit card by visiting the nearest branch of the bank offering the Kisan credit card scheme. The application form can be submitted offline with the documents attached.

Eligibility Criteria for the Credit Card Scheme for Farmers

If you are an individual farmer and you are the owner cultivator then you can apply for the credit card scheme.
All the individual farmers and joint borrowers are eligible for the scheme
Tenant farmers or Oral lessees and Share Croppers in the agricultural land are also eligible
Self-help group (SHG) or joint liability group (JLG) of sharecroppers, farmers, tenant farmers, etc.
Minimum age of the gfarmer should be 18 and maximum should not exceed 75.
If the borrower is a senior citizen then a co-borrower is mandatory
The farmer should be a resident of the operational area of the bank in which they are going to apply for the scheme.

Documents required for the applicaton

Each bank has different guidelines for the required documents but the list of basic documents required for the application is given below.

Identity ProofPan card / Aadhar Card / Voter ID / Nrega Job Card / Driving License / Passport or any other govt. issued document of identity
Residence ProofAny utility bill / Aadhar card or any other address proof

List of banks offering KCC scheme

State Bank of India
Punjab National Bank 
Axis Bank
Bank of India

These are some of the major banks which offeres the scheme. Thereare other local banks as well which offers the KCC scheme.

features and Benefits of Farmer Credit Card Scheme

Before this scheme was announced by the government, the majority of farmers used to borrow money from informal sources and end up in debt traps. The high-interest amount and rigidity in repayment was a major issue for the farmers. This scheme provides a lot of benefits to farmers like flexible repayment, very low-interest rates plus insurance benefits as well.

  • With the help of this scheme, farmers can get credit for interest rates as low as 2.00%
  • Farmers don’t need to provide any security to the bank for loans up to 1.60 lakh
  • Banks also provide insurance benefits to the farmers against natural calamities.
  • Repayment options are flexible to give relief to the farmers.
  • Minimum documentation and easy application procedure are provided to farmers.

How does the Kisan Credit Card work

Once the farmer apply for the credit card, the bank will assign a limit according to the documentation and eligibility. Once the card is sanctioned by the bank the farmer can now purchase the required items within the amount limit sanctioned by the bank. The maximum amount limit is Rs 3 Lakh.

Pradhan Mantri Credit Card Yojana

RBI ( Reserve bank of India ) keeps on making changes in the credit card schem for farmers according to the agricultural needs. Mandatory changes are made on time to time looking at the requirement in the agriculture sector for example a big boast is announced by the Finance minister of India for the farmers due to the Pandemic situation . The objective is to provide what is required in the agriculture sectors or the farmeers of the nation.

Frequently Asked Questions

What is the interest rate charged on the KCC loan

The interest rate vary from bank to bank and it also depends on your credit history. The farmers can get credit on as low as 2% interest rate.

Where can i use the Kisan Credit Card?

Farmers can use the KCC in all the agriculture related activities plus the marketing as well.

For how long farmers can avail the loan?

Maximum is 5 years

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