Kisan Credit Card (KCC) – Loan Scheme 2021-How to Apply loan

Many have returned to their homeland from foreign countries, both in and out of Corona. Those who have lost their jobs in this way are definitely the ones who are thinking of going back home and starting a farm. Because the farm is a business idea that any ordinary person can start and achieve according to their financial status. But if you approach a financial institution to start a farm, they will charge you a hefty sum and you will have to pay something to the bank as collateral. But here is a loan that can be used by all farmers without any collateral.

Under this one loan which can be used for any farmer’s purpose, the loan amount will be Rs. 160,000. The amount can be used as an initial fund or as a running fund. This loan provided by the Central Government is helpful for anything related to agriculture i.e. poultry and cattle farming etc… One lakh and sixty thousand rupees of the loan amount will be available at 4% interest. It can be available through Kisan credit card. Kisan Credit Card is a card issued to farmers under the Central Government. The loan amount will be received through this one card.

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There are two major types of agricultural loans available. They are classified as short term and long term. The term for short-term loans is 12 months. This amount can be taken and refunded any number of times in a year. Long-term loans are up to five years. Withdrawals can be made and refunded in the manner prescribed by the Reserve Bank. The application form is available in English and Hindi in the KCC section on the websites of different banks. Identification card, land records, photo, bank account and proof of address are required to submit the application.

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You will receive a reference ID after submitting the application. Further action is required. The card will be delivered to your address after the loan officer checks the documents and approves the loan. Anyone between the ages of 18 and 75 can avail this benefit. However, a co-applicant is mandatory for those above 60 years of age. This way of all the farmers can avail this loan benefit. Watch the video to know more.

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