Kisan Credit Card news update: If you are a farmer and you have loaned with Kisan Credit Card, then it is very important to settle an important work before August 31 and that you can do it as soon as possible. Pay off the loan. If you do not repay the loan at the prescribed time, then you will not get the benefit of the discount and you will have to pay three percent more interest. That is, you have to pay 7 percent interest instead of 4 percent. You must know that the government gives an additional 3% interest rebate to those who repay the loan money taken with the Kisan Credit Card on time, but those who do not pay the loan money on time, on behalf of the government They are deprived of the benefits given. However, the last date for repayment of loan taken with the Kisan Credit Card is set till 31st March,
How much can you take loan on kisan credit card
If you want to take a loan through Kisan Credit Card, then you can take a short-term loan of up to Rs 3 lakh in 5 years. Although the loan is available at the rate of 9 percent, but the government gives a subsidy of 2 percent on it. In this sense, 7 percent interest will have to be paid at the rate of 9 percent. At the same time, if the farmers return this loan on time, then they get an additional 3 percent rebate from the government. This means that only 4 percent interest will be paid to the farmer who returns the loan honestly.
When do you have to return loan money?
The loan money taken on the Kisan Credit Card has to be returned by 31 March, but this year due to the lockdown implemented in the country due to Corona virus epidemic, the government has extended its deadline to 31 August 2020. However, earlier the government had set its last date as 31 May, but it has been pushed forward in the event of not stopping the infection, but now the last date of 31 August is also coming to a close and the government has not announced yet in this regard. Have not However, the farmers of the country are more busy in planting kharif crop and especially paddy during the monsoon. In such a situation, they are worried about growing more crops than paying debts. Nevertheless, by returning the money on time, the farmers will get the additional benefit of three percent amount.
What is Kisan Credit Card?
Kisan Credit Card (KCC) is a very useful scheme for small farmers. Through this, loans worth Rs 1.6 lakh are being given to farmers without any guarantee. At the same time, farmers can take loans up to Rs 5 lakh through this in 3 years. The validity of the Kisan Credit Card is 5 years. The interest rate in this card is also very low at 4 percent per annum. But for this, it is necessary to open your account in PM farmer. So far, around 7 crore people have become Kisan Crkdit card holders. The government is going to issue Kisan Credit Cards to about 2.5 crore farmers further.
How to apply for kissan credit card?
For this, you must first go to the official site https://pmkisan.gov.in/.
Download the Kisan Credit Card form here.
You have to fill this form with the documents of your land, details of the crop.
This information should also be given that you have not made any other Kisan Credit Card from any other bank or branch.
Voter ID card / PAN card / Passport / Aadhaar card / Driving license etc. can be detailed for ID proof. At the same time, for address proof, voters can give ID card / passport / Aadhaar card / driving license etc. details.
Fill and submit the application, after which you will get the Kisan Credit Card from the concerned bank.