Features and benefits of Kisan Credit Card

Features and benefits of Kisan Credit Card

1. Available to agriculturists in rural, semi-urban and urban areas
2. Provides assistance to individual farmers who are owners and cultivators of land
3. Eligible farmers to be provided with a Kisan Credit Card and a pass book or card-cum-pass book
4. Assured availability of credit at any time
5. Credit Limit to be fixed on the basis of operational land holding, cropping pattern and scale of finance.
6. Serves as working capital, short term or long term credit
7. Minimal paper work and less documentation
8. Option to choose loan tenure based on financial situation and needs
9. Maximum credit limit based on agriculture income
10. Credit facility is usually available for 5 years so there is no need for seasonal appraisal. The borrower need not submit all papers and execute documents every year during the currency of KCC.
11. Credit available at Low Interest Rates
12. Any number of withdrawals subject to credit limit
13. Flexible repayment options
14. Quick and easy loan sanctions
15. Simple disbursement process
16. Flexibility to withdraw cash and buy inputs
17. Repayment only after harvest
18. Kisan Credit Card is valid for 3 to 5 years subject to annual review.
19. Security, margin, rate of interest, etc. are charged as per RBI norms.
20. No need to apply for a loan for every crop separately
21. Accidental Insurance Cover to KCC borrowers
22. Security, Margin, Interest Rate, etc. are decided as per RBI Guidelines