The Kisan Credit Card Yojana (KCC) is a scheme launched by the Indian government to provide short-term, revolving credit to farmers across the country. Introduced in 1998, the scheme aims to mitigate financial shortfalls faced by farmers during crop cultivation, harvesting, and maintenance of their produce. In this article, we will delve into the features, benefits, and eligibility criteria for the Kisan Credit Card Yojana 2024, along with the process of online application and required documents.
Key Features and Benefits
Feature
Description
Revolving Credit
Offers a revolving credit facility with a 12-month repayment period.
Flexible Limit
Provides a flexible credit limit based on crops cultivated, scale of finance, and maintenance expenses.
Accident Insurance
Covers farmers against financial losses in case of death, permanent total disability, loss of limbs, or eyes.
Low Interest Rate
Offers an interest rate between 2% to 4%.
Simplified Application Process
Has a simplified application and documentation process.
Conversion and Rescheduling
Allows farmers to convert or reschedule their loans in case of crop damage due to natural calamities.
Eligibility Criteria
Category
Eligibility
Individual Farmers
Owner-cultivators, tenant farmers, oral lessees, and sharecroppers.
Self-Help Groups (SHGs)
Groups of farmers, including tenant farmers, sharecroppers, and women groups.
Fishermen
Fishermen who own a registered boat or vessel and possess necessary licenses.
PAN Card, Aadhaar Card, Voter’s ID Card, Passport, Driving License, or any other government-approved photo ID.
Proof of Income
Bank statement for the last three months, salary slips for the last three months, audited financials for the last two years (for self-employed), Form 16, etc..
Address Proof
Aadhaar Card, Passport, utility bills (not more than three months old), or any other government-approved address proof.
Online Application Process
Step
Description
1. Visit the Official Website
Go to the official website of the bank or financial institution offering the KCC scheme.
2. Fill the Application Form
Fill out the application form with the required details and attach the necessary documents.
3. Submit the Application
Submit the application form and wait for the bank’s response.