Kisan Credit Scheme: Get loan at low interest, farmers between 18 to 75 years can apply

India is an agricultural economy. The agricultural sector is one of the most important industries in the Indian economy. The central government is running several farmer-friendly schemes in the country. One of these schemes is the Farmer Credit Card scheme. Under this scheme, farmers are provided with the facility of loans. Farmers who are facing financial difficulties can get a loan of up to 3 lakh rupees at a low-interest rate on this card. For short-term loans of up to 1 lakh rupees, farmers do not have to pay any interest. Farmers can apply for the Farmer Credit Card both online and offline. Currently, it has been linked to the Prime Minister Kisan Samman Nidhi Yojana, and PM-Kisan beneficiaries can also apply for it.

Benefits of the Scheme:

1. Under this scheme, farmers can avail of loans of up to 3 lakh rupees at a 4% interest rate for a period of 5 years to purchase essential farming equipment.
2. The loan also provides farmers with coverage under the accident insurance scheme. In case of the farmer's death or disability, insurance claims of up to 50,000 rupees are provided. In other risk situations, coverage of up to 25,000 rupees is offered.
3. The scheme offers flexibility in loan repayment.
4. Along with the Farmer Credit Card, farmers are provided with a savings account. They also receive a smart card and a debit card.

Who Can Apply?

1. The minimum age for applying for the Farmer Credit Card is 18 years, and the maximum age is 75 years.
2. Even sharecropping farmers can apply for it. Pattadar (landholding) farmers are also eligible to receive loans under this scheme.

Required Documents for Application:

To apply for the scheme, you will need identification proof, address proof, land documents, passport-sized photos, and other necessary documents. The Farmer Credit Card,can be obtained from Cooperative banks, Regional Rural Banks, National Payments Corporation of India, State Bank of India, Bank of India, and Industrial Development Bank of India. To apply offline, visit the bank directly, and you can easily get the application form. If you are applying online, go to the online website of the bank where you wish to apply.