Kisan Credit Card (KCC) was introduced by the National Board of Rural and Agricultural Development (NABARD) in 1998. In 2019, this scheme has been extended to animal husbandry and fishing sectors as well.

Earlier farmers had to go through a cumbersome process to avail credit from local moneylenders and financial institutions. However, after the initiation of the scheme, the process has become much easier.

An individual enrolled under the KCC scheme can easily avail credit from financial institutions at affordable interest rates.  Due to technological advances, now an individual can avail the Kisan credit card online apply, which makes it easier than physical application.  They can also use the card to withdraw cash from ATMs as per their convenience.

Features and benefits of Kisan credit card

●Egalitarian: The credit card can be availed by every individual working as a farmer. It doesn’t matter if a farmer has owns a land, works on a leased farm, tenant farmers, etc.

●All-purpose card: A farmer who has been issued the card can use it for all purposes essential to him such as buying seeds and fertilisers, paying bills, feeding the cattle, etc.

●Insurance: The National Crop Insurance Scheme covers all the individuals who are enrolled under the KCC scheme. During poor seasons of harvest, farmers are ensured to receive protection under this scheme. Other than that, they are also insured against any asset damage or personal accident.

●Repayment tenor: The repayment tenor on loans taken under the KCC scheme is 3 years. However, in case of a bad harvest due to any natural calamity, the tenor may be extended. It ensures the farmer paying down their credit card debt comfortably.

●Documentation: Another key feature of the Kisan credit card online apply is the minimum documentation required. Here’s a list of documents an individual would require to apply for it –

1.KYC documents as address proof.

2.Identity proof documents such as Aadhaar card, PAN card, Voter ID card, etc.

3.A passport-sized photograph.

4.If it is owned land, then documents attesting the same.

●Quick disbursal: Any loan availed under this scheme is disbursed to the individual’s respective bank account within a few days of applying. It ensures the time utility of funds. In case a farmer needs to meet an emergency, he can withdraw cash within the sanctioned limit from ATMs.

●Revolving credit facility: Holders of this card enjoy revolving credit facility. It means, in case an individual cannot repay an outstanding credit bill by the due date, that amount will be added to next month’s statement. The interest will be charged on the accrued amount.

●Validity period: The issued card will be valid for 5 years with an option to extend it for 3 more years.

After the validity of the card is over, an individual would have developed a substantial credit score. They can use this score for premium SuperCard like applying for RBL Bank credit cards online.

These premium cards have many benefits which are absent in a Kisan credit card which can help farmers improve their agricultural ventures.

Some NBFCs provide pre-approved offers through which an individual can avail loans much faster and in a simple manner. These offers are available on numerous financial products including personal loans, business loans, home loans, etc. Check your pre-approved offer by submitting only a few essential details online.

Eligibility criteria

There are a few criteria to meet to avail a Kisan credit card –

●The applicant’s age should be within 18-75.

●If the applicant is a senior citizen, i.e. 60 years or above, then he must apply with a co-borrower who preferably should be a legal heir.

●The applicant should be an oral lessee, tenant farmers, sharecroppers, SHGs or joint liability groups.

In case an individual is not covered by the scheme, then he/she can apply for an RBL SuperCard which has an array of benefits.

They can apply for Bajaj Finserv RBL Bank credit card online through the lender’s official website.

How to Kisan Credit Card apply?

To avail a Kisan Credit Card apply online, these are the steps an individual should follow –

Step 1. Visit the financial institution’s official website and click on “Kisan credit card” section.

Step 2. Click on “Apply now.”

Step 3. Enter necessary details in the vacant fields and cross-check.

If the application is approved, then an executive from the respective financial institution will get in touch with the prospective borrower. The individual needs to produce the necessary documents to the executive like digital signature and education documents.

By opting for the Kisan credit card apply online, a farmer can save time and avail necessary funds to aid his agricultural ventures. The government has also introduced the National Common Mobility Card, which offers easy and secure conveyance of the cultivated crops. Through these schemes, the government aims to assist the agricultural sector by benefiting each farmer who is just as integral a part of the whole sector as any other.