किसान क्रेडिट कार्ड,
Kisan Credit Card,
Loan to the Farmers,.
This is a type of loan which is being given to the farmers by the bank. In this the farmers whose cultivating land is on name of him then he can apply to bank for such type of loan. This is provide only for the farmer to grow their crops by purchasing the input (seed, fertilizer, pesticides and machinery used in crop cultivation)
This is given to the farmer for six month because the most of the crop in India gets maturity in six month. The crop may be cereals, pulses oily crops, vegetable crops etc.
To get the kisan credit card farmers has to apply in bank to get loan from the bank as kisan credit card. The farmers who have land can apply in the bank for this. To apply for this kisan has to give some document like khata khasra, identity cart, he should have bank account in his nearby area, no dues from the other bank that he has not taken any loan from the other bank, certificate from the patwari what’s he grows in his field, etc.
The amount of the limit or the amount of the loan is depend – how much land farmer has, is land is irrigated or not , what types of crops he grow like commercial crop or general crops, etc.
The rate of interest for this card is very low. It is approx 7% but the state government gives some subsidy in amount of interest so farmers will have to pay only 3 % rate of interest. But in some state it is 0% like in madhypradesh if credit card is made from the district cooperative bank and he purchase the agriculture input from the society connected the this bank. Other nationalized bank charges 3% as rate of interest and this bank not supply any input the farmers.
So farmers can take loan easily as kisan credit cart by applying in the banks.
Farmers will have to take care that they will have to pay the loan at time otherwise the rate of interest will be increased by the bank. So timely payment of the loan should be done by the farmers.
If farmers pay their loan at time then after some time the limit/ amount of loan is increased by the banks.
Farmers will have to pay the loan twice in a year at given date.
Farmers can also apply for the kisan credit card in the private banks they are also providing loan to the farmers.
This is very useful to the farmers to have kisan credit card. All the bank gives the loan as kisan credit card to the farmers. So farmers can take loan from the banks and can purchase input to grow their crops.
So farmers should use this facility.
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