Due to the Kisan Credit Card, farmers can also get their crop insured, due to which due to the loss of their crop, they are also compensated.
Kisan Credit Card (Kisan Credit Card) is a great scheme to rid the farmers from the clutches of the moneylenders and provide loans at a cheaper rate for the farming operations. In this scheme, a loan of up to 3 lakh rupees is given to the farmer. In Budget 2021, it is expected that the government can increase this loan limit further.
Finance Minister Nirmala Sitharaman will present the General Budget (Budget 2021) on the table of Parliament on February 1, Monday. Experts say that big announcements can be made for the farmers in this budget. At this time, the issue of farmers is in the country. Therefore, the Central Government can announce any major scheme for the farmers.
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It is being told that the Modi government can increase the limit of Kisan Credit Card. On Kisan Credit Card, farmers are provided loans at very low interest (kcc interest rate).
Interest on KCC loan (kisan credit card loan interest rate)
The loan taken on the basis of Kisan Credit Card attracts interest at the rate of 7 percent. But, if the farmer repays a loan within a year, then he will have to pay only 4 percent interest on it.
Crop Insurance
This is a very good scheme for farmers. Due to the Kisan Credit Card, farmers can also get their crop insured, due to which due to the loss of their crop, they are also compensated. In case of flood, the farmer credit card is very useful if the crop gets burnt due to drowning or if there is a drought.
KCC Loan Scheme
– Interest is paid on the loan in the KCC account at the rate of savings bank.
– Free ATM cum Debit Card is provided for KCC card holders.
– State Bank of India gives a debit / ATM card called State Bank Kisan Card.
– For loans up to 3 lakh rupees in KCC, interest rebate is given at the rate of 2% per annum.
– An additional interest rate of 3% per year is waived for repaying the loan before time.
– Crop insurance coverage is available on KCC loans.
The quantum of loan for the first year is decided on the basis of agricultural cost, post-harvest expenses and land cost.
Kisan Credit Card Scheme
– No security is required for loans up to Rs 1.60 lakh.
One year or till the date of repayment of the loan, whichever is earlier, interest will be charged at the rate of 7%.
– In case there is no repayment within the due dates, interest will have to be paid on the card rate.
After the due date, compound interest will be charged from half yearly.
Kisan credit card benefits 2021
– All the farmers of the country can take advantage of the Kisan Credit Card Scheme.
– Under the Prime Minister Kisan Samman Nidhi Scheme, all farmers will be given the benefit of this scheme.
– 1.60 lakh rupees will be given by the Central Government through Kisan Credit Card.
– The benefit of this scheme will be made available to 14 crore farmers of the country.
