Kisan credit card scheme under. Kisan samma nidhi offers 2% interest rate by sbi. Hdfc 4%, pnb icici ,7%.
Kisan credit card kcc features
Get saving bank interest (3-4%) on credit card balance.
7% simple interest rate upto due date or within 1 year.
Interest compounds hafy yearly.
2% interest subsidy / subvention for loan amount upto 3 lakhs.
Additional 3% interest subsidy/subvention upon prompt payments.
7%-5%= 2% (inflation rate =4%) so you are not paying anything interest.
No security for loan amount upto 1.6lalhs (2lakhs to extend)
sanctioned credit card limit also treated as security / collateral amount
If not paid amount within due then interest applies at Kisan credit card rate (which is high)
Loan term 5 years.
Enrolled automatically under National crop insurance scheme.
also covers personal accidental insurance for 70 years.
Kisan credit card Kcc Eligibility:
Farmers and tenant farmers, self help groups etc
How to apply Kisan credit card online/ offline
Online visit the banks website like sbi,pnb,hdfc,icici
Resident of bank operational area(nearest bank)
Furnish details. I’d proof & address proof like aadhar, ration card, voter id card etc.
And 2 passport size photoes.
Offline at bank branch or nearest CSC(common service centre)
Just we give a try apply online for sbi bank kcc
For that we have search ” Kisan credit card apply online”
Where you can read full details and a link to application
- But downloaded a pdf Kisan credit card application form by sbi
Here https://sbi.co.in/documents/14463/22577/application+form.pdf/24a2171c-9ab5-a4de-08ef-7a5891525cfe
So there is no online application process from sbi
All you have to download the form, fill the details and goto nearest branch,
The bank manager may says, what the heck is it.
This what government /our money through taxes, direct 30% indirect 20% goes every year we paying 20%-50% of our income as a tax. PM announced 20 lakh crore rupees , should even get that 1 rupee. No I don’t.
As a responsible citizen download & fill submit at manager,
Report your hardwork through sociamedia,
Let’s do with hdfc bank Kisan credit card
Just did a search “hdfc kisan credit card apply online”
Found. Hdfc Kisan credit card page,
Interest rate 9%
Subsidy on interest rate only applies through good credit score farmers
Loan should paid within 1 year upon crop sale. if not extended to 1+4 years.
Before sanction the credit card, bank will check credit score of farmers, income and land holdings.
So it’s tougher to get kisan credit card from hdfc.
It’s success because of its valuable customers.
Let’s do with pnb
Bad experience with pnb while my home loan application process.
25,000 atm withdrawals per day, 60,000 at POS or bank
1 lakh personal accidental coverage if minimum transaction made within 90 days prior to the accident.
to understand Finance knowledge our brain need more reasoning than providers.
Ex. Credit card fees & rewards. ,(Pay annual fee of 3000& get 3times aiport lounge access & book my show, get 0.20 paise back on 100 spend they gets 2.5% 2.5 on hundred spending)
Kcc or Kisan credit card limit
1.6 lakhs without collateral
3 lakhs on collateral
Interest rate
4% under pm samman nifhi
2% by sbi
4% at the time of application
3% on part payment
7% on late payment
Loan sanction procedure
Loan amount decided by loan officer based on farming area, productivity etc.
10% of loan amount can be used for household expenses
As you can also see what happens to pm mudra scheme and pmay scheme.
3 moths maratorium period on Kisan credit card?
Yes it applies upto may 31st 2020, it may extend for another 3 months. After may, 15/ 17th pressmeet. By modi.
How many banks giving Kisan credit cards?
Modi said 2000 banks under Kisan samman nidhi scheme,
benefits of Interest Subvention (IS) and Prompt Repayment Incentive (PRI) on short-term crop loans only through the Kisan Credit Card Scheme.
About Kisan credit card?
It’s launched in 1986, but now as of 2020 majority of the farmers not aware of this.
America: all banks are private
Russia & China : all are under government
India: mix of both, pm.mudra scheme, pmay failed because of banks have a choice to choose the beneficiery with good credit rate rather than actual needed and eligible person.