Ms banks hobby farm loans12/6/2023 ![]() These would be based on the cardholder's credit history overall and payback history. The government also provides farmers with a number of incentives and programs related to interest rates. However, KCC's interest rates range from 2% to 4% on average. Interest and Other Charges on Kisan Credit Cardsįrom one bank to the next, the KCC's credit limit and interest rate are different. No collateral will be required for loans amounting to Rs.1.60 lakh.Credit is available for a period of up to 3 years and repayment can be made once the harvest season in over.as well as in availing cash discounts from merchants/ dealers. Assistance in the purchase of fertilizers, seeds, etc.Single credit facility/ term loan for all agricultural and ancillary requirements.Flexible repayment options and hassle-free disbursement procedure.Eligible farmers will be issued a savings account with attractive interest rate along with smart card and a debit card in addition to the Kisan Credit Card.A cover of Rs.25,000 is given in case of other risks. Insurance coverage for KCC scheme holders up to Rs.50,000 in the case of permanent disability or death.Farmers can take out a loan of up to Rs.3 lakh and also avail produce marketing loans.Investment credit for agricultural requirements such as dairy animals, pump sets etc.Farmers are given credit for meeting their financial requirements of agricultural and other allied activities along with post-harvest expenses.Features and Benefits of Kisan Credit Card This was accomplished by assisting them in obtaining short-term loans and giving them a credit limit to use for equipment purchases as well as other expenses. To make sure that the credit requirements for farmers in the agricultural, fishery, and animal husbandry sectors were met, the KCC plan was developed. ![]() The Kisan loans Card (KCC) program, developed by NABARD (the National Bank for Agriculture and Rural Development), was introduced in 1998 with the intention of giving farmers short-term formal loans. The Kisan financing Card program, run by the Indian government, gives farmers quick access to financing.
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