Are you a farmer? Struggling to secure a loan for your agricultural needs? Look no further! Kisan Credit Card (KCC) is your answer. With this unique financial tool- you can access the financial support you need to invest in your farm and ensure its growth. In this blog post- we will explore the benefits and feature of Kisan Credit Card, as well as the process to obtain one. Read on- to discover how ‘Kisan Credit Card‘ can revolutionize your farming journey.
Kisan Credit Card Scheme
Kisan Credit Card is a government-backed scheme that provide farmers with a line of credit to meet their agricultural requirements. It serves as a single-window solution to access various financial service including- loan, insurance and saving account. Primary objective of the KCC is to support farmers in need & empower and to take their agricultural activities to new height.
Kisan Credit Card Benefits
Kisan Credit Card offers a multitude of advantage that make it an attractive financial tool for farmers.
1. Easy and Convenient Access to Credit
With a Kisan Credit Card- farmers can easily access credit from their nearest bank branch or affiliated financial institution. This eliminate the need for multiple visit and extensive paperwork.
2. Flexible Loan Repayment
KCC provide farmers with the flexibility to repay their loan as per their revenue cycle. This means- that they can choose to make repayments based on their income from agricultural activities, reducing the financial burden during low-earning season.
3. Lower Interest Rate
Kisan Credit Card offer farmers access to loan at lower interest rate compared to traditional loan products. This enables to save on interest expense and allocate fund to other essential farming activities.
4. Credit Eligibility Based on Harvest Potential
KCC take into account the agricultural potential of land and crops. This means- that even small and marginal farmers who may not have substantial collateral can still avail credit based on their future harvest potential.
5. Crop Insurance
Kisan Credit Card cover crop insurance to provide a safety net for farmers- in case of crop failure due to natural calamity, pests or disease. This feature safeguard their income and provides with peace of mind.
