Bank Of India Kisan Credit Card Yojana Bank Of India Kisan Credit Card Yojana: Every small and big farmer of the country needs money from time to time to keep their agricultural work running smoothly, but not every farmer is able to fulfill his money needs on time. In such a situation, you can take a Kisan Credit Card loan from the bank for your agricultural work or agriculture related work.
Documents Required for KCC Loan:
- Identification:
- Aadhar Card
- Voter ID Card
- PAN Card
Eligibility for KCC Loan:
All farmers who are either individual cultivators, joint cultivators, or owner farmers farming on lease are eligible.
Tenant farmers, oral lessees, and sharecroppers are eligible.
Self-Help Groups (SHGs) and Joint Liability Groups (JLGs) of farmers, including tenant farmers and sharecroppers, are also eligible.
Key Features of the KCC:
Attractive Interest Rates: Loans up to ₹3 lakh are available at an interest rate of 7% per annum.
Interest Subsidy: For loans up to ₹3 lakh, a 3% interest subsidy is available if the loan is repaid on time (maximum benefit of ₹9,000).
Turnaround Time(TAT):
| On loan up to Rs 160000 | For loans above Rs 160,000 |
| 7 Working Hours | 14 working hours |