PM Kisan Credit Card Yojana 2023: Know complete details of KCC Yojana in Gujarati

PM Kisan Credit Card Yojana 2023: Established in 1998 in collaboration by the Government of India, NABARD and RBI, the KCC initiative provides loans to farmers by putting their land as security. These loans are then used to improve their agricultural practices. Although only a group of farmers are eligible for the Kisan Credit Card Scheme, those who qualify can avail loans at highly favorable interest rates for farming purposes.

Farmers under KCC Yojana 2022-23 through PM Kisan Credit Card Yojana 2023 at 4% interest rate Rs. Can avail loan up to 3 lakhs. However, it is important to note some important details. So, we request you to read this informative article on Agriculture Loan till the end.

If you are looking for funding for agriculture, Kisan Credit Card Scheme 2023 is an option worth considering. However, to get an agricultural loan you have to visit your bank and submit the necessary paperwork, as well as complete other procedures. To get more information on KCC, read on.

What is Kisan Credit Card?

The government, along with regional rural banks and other government banks, provides agricultural loans to farmers that cover their expenses for a year. The loan has a tenure of up to five years and farmers typically use it to cover the costs of sowing crops, crop insurance, fertilizers and seeds.

Kisan Credit Card Scheme 2023 Summary
Scheme : Kisan Credit Card Scheme
Established :1998
Organizer : Government of India
Beneficiary : Farmer
Loan Amount: Up to Rs.3 Lakhs (If you borrow more than this, the interest rate will increase)
Objective : To provide loans at low rates by getting rid of moneylenders
Official Website : https://pmkisan.gov.in/

KCC Loan related documents

KCC Loan related documents

For loans up to 1.6 lakh you have to do –

aadhar card
PAN card
Land documents like khasra, khatauni and share certificate

To be deposited in the bank.

Bank will grant you agriculture loan subject to verification of your accurate CIBIL report.

Tehsil lawyers will verify the land records for loans beyond the specified amount. The verification will cover a period of twelve years and the documents will be presented to the bank. Once the verification is done, the bank will open the account and release the loan. Deposits and withdrawals can be made without restriction within a period of five years. Alternatively, the bank may choose to mortgage the land.

Who is Eligible for Kisan Credit Card?
Farmers who own land and who are part of SHG/JLG can avail Kisan Credit Card Scheme.

PM Kisan Credit Card Yojana Important Documents
Farmers having agricultural land with necessary documents will be considered eligible to get Kisan Credit Card. Documents required for Kisan Credit Card application are listed below –

Share Certificate
Khatauni
Measles
Identity card with address
Barsala (if loan limit is more than 1.6 lakh)
No dues from bank
affidavit
CIBIL score should be more than 675.
How much land is required for Kisan Credit Card?
The loan amount given for a piece of land is subject to assessment of scale of operation by DLTC. The District Level Technical Committee decides every year on performance criteria and price per hectare/acre per acre for various crops grown on irrigated and non-irrigated land.

Kisan Credit Card Tenure
Kisan Credit Card offers a maximum tenure of 5 years and is similar to an overdraft facility. You have the freedom to withdraw when you need and pay as per your convenience. However, interest is applicable on the withdrawn amount and has to be paid along with the deposited amount. Renewal of Kisan Credit Card is possible after the expiry of 5 years.

Kisan Credit Card Interest Rates
Farmers may have to pay up to 4% interest on their Kisan Credit Cards.

When the loan amount is in the range of three lakhs, the applicable interest rate for KCC is 9%. Meanwhile, a subsidy of 2% is provided by the Centre.
If the farmer repays the loan with interest within a year, he is eligible to get 3% bonus.
Hence, the loan becomes extremely affordable with a significantly reduced interest rate of just 4%.
Assuming the farmer makes the deposit on time, he will be eligible for the loan once again.
What will be the Kisan Credit Card Loan Limit?
Have you ever thought that the loan limit will be on a per acre or per hectare basis? The answer is that Khedu Bhaio kcc scheme is designed only for sowing of crops and related activities. Therefore, the bank determines the crop, machinery repair (if required), and its maintenance. The DLTC under the DM’s regime fixes the loan amount annually for each crop.

What happens in case of death of Kisan Credit Card holder?
The possibility of the farmer’s death and the fate of the loan must have crossed your mind. In such an event the loan is secured by the bank through a mortgage on the agricultural land. The land will not be released until the loan is fully repaid.

The personal accident insurance plan offered by the bank provides coverage to the farmer in the unfortunate event of any accident. For a minimum premium of just Rs 5, farmers can ensure that their families receive claim payments from their kcc accounts after they pass. Failure to pay any additional sum insured, however, the land will be mortgaged and passed on to the legal heirs.

When will agricultural land be foreclosed?
To secure agricultural land mortgage, both parties must agree and sign the format of the bank agreement, p.

Five copies in return. The mortgage letter must be sent to the Tehsil/Registrar office within thirty days of disbursement of the loan. Each office receives two copies and registers the tehsil charge before returning all copies to the bank.

It is important to note that Kisan Credit Card allows mortgage only when the loan is above Rs. 160000 have been received.

What is KCC Accident Insurance?
The bank offers its cardholders a personal accident insurance plan that comes with various benefits, including:

Accidental death of medical holder Rs. Insured for an amount up to 50,000.
The bank will deposit Rs 10 while the premium holder will have to deposit Rs 5.
After a period of 3 years, the holder to deposit Rs. 15 is the only premium.
Farmers who are above 70 years of age are eligible for Kisan Credit Card Accident Insurance.
How to Apply Online for Kisan Credit Card? (How to apply online for Kisan Credit Card?)
How to apply for PM kisan credit card yojana 2023: If you have agricultural land, there are two ways to apply for kisan credit card. First, you can visit the bank in person and apply directly. Alternatively, you can visit the PM KISAN official website and download the online application form to apply digitally.

Official Website	Click here
CSC PM Kisan KCC Apply	Click here
Homepage	Click here