Kisan Credit Card: Now you can get Rs 5 lakh at 4% interest, know the documents and application process

 

Kisan Credit Card Limit- Kisan Credit Card (KCC) scheme was started in 1998. Initially, a loan of Rs 1 lakh was available under this. Later it was increased to 3 lakhs. Now in Budget 2025, the limit of Kisan Credit Card has been increased to five lakh rupees.

Kisan Credit Card: Finance Minister Nirmala Sitharaman gave a big gift to the farmers in the budget. In the budget, the loan limit given under the Kisan Credit Card was increased from Rs 3 lakh to Rs 5 lakh. This decision of the government will benefit crores of farmers of the country. In the Economic Survey 2024-25 presented in Parliament on Friday, it was told that till March 2024, the number of Kisan Credit Cards (KCC) in the country was 7.75 crores. Under KCC, loans of Rs 9.81 lakh crore have been given to farmers.

The Kisan Credit Card (KCC) scheme was started in 1998. This scheme was implemented on the recommendation of NABARD (National Bank for Agriculture and Rural Development). Kisan Credit Card has made the loan process simple and accessible for farmers, enabling them to buy seeds, fertilizers, pesticides, and other agricultural equipment on time. Kisan Credit Card is playing an important role in providing financial assistance to farmers and easily meeting the expenses related to farming.

Kisan Credit Card Interest

Under the Kisan Credit Card, farmers are currently provided loans up to Rs 3 lakh, which has now been increased to Rs 5 lakh in the budget. The interest rate of KCC is 7 percent per annum. The government also provides subsidy on interest to provide relief to farmers. If farmers repay the loan on time, they get an interest subsidy of 3%, which makes the effective interest rate of Kisan Credit Card 4%.

Who is entitled to Kisan Credit Card

Apart from agricultural work, the benefit of Kisan Credit Card Scheme is also available to farmers engaged in fisheries, dairy farming, animal husbandry and horticulture. Some necessary eligibility criteria have been set for this. Such as being an Indian citizen and the age of the farmer should be between 18 to 75 years etc.

How is Kisan Credit Card issued?

The process of getting Kisan Credit Card is simple. Farmers can get it from government and private banks, rural banks, and cooperative societies. Kisan Credit Card can be applied both offline and online. The farmer can fill the application form for Kisan Credit Card by visiting his nearest bank branch. Necessary documents like Aadhar card, PAN card, land papers, and passport size photo have to be submitted along with the application.

Online application process

Farmers can also apply online through the website of PM Kisan Yojana or the website of the concerned bank. We are telling you the step by step process of filling the online form to get Kisan Credit Card from State Bank of India…

  • Go to the official website of SBI https://sbi.co.in/web/personal-banking/home.
  • Go to the Agriculture & Rural tab in it.
  • Go to Crop Loan here and select the Kisan Credit Card option.
  • Here you will find the Application Form. Download it, fill it and submit it.
  • In 3-4 days the bank itself will contact you and start the process of making Kisan Credit Card.

When does one have to return the money?

Under the Kisan Credit Card, the farmer gets a loan for five years. It gets renewed after five years. The farmer has to pay the interest on the Kisan Credit Card twice a year. Once a year, he has to deposit the entire loan amount along with the interest. The farmer can withdraw the principal amount deposited the very next day. The farmer is entitled to get interest subsidy only after paying the interest twice a year and depositing the entire loan amount once. If he does not do so, he has to pay interest at the rate of 7 percent. If the interest is not paid on time, the account can also become NPA.

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