New Delhi: Kisan Credit Card Loan Scheme, launched by Government of India in 1998, is one of the schemes aimed at providing short term loans to farmers in the agriculture, fisheries and animal husbandry sector. Through this, farmers can avail short term loans that help them to purchase equipment and manage other expenses.

The farmers are exempted from high interest rates of other loans as Kisan Credit Card schem starts interest rates as low as 2 per cent, with the average interest rate being 4 per cent. Farmers can repay the loans depending on the harvesting period of their crops.

The government also launched another scheme called PM Kisan Samman Nidhi Scheme through which all farmers can avail up to Rs.6,000 every year as their income support. All beneficiaries under the Kisan Samman Nidhi Scheme can now get a Kisan Credit Card.

The application process for the Kisan Credit Card can be done online, as well as, offline.

Offline applications can be done by visiting the branch of the bank of your choice or by downloading the application form from the website of the bank as well. The applicant can visit the branch and begin the application process with the help of the bank representative. Once the formalities are done, the bank’s loan officer can help with the loan amount for the farmer.

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Published Date: September 2, 2022 4:54 PM IST

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