How to apply for Kisan Credit Card?

What you should know about applying for a Kisan Credit Card?

Introduced in 1998, the Kisan Credit Card is a scheme launched by the Government of India to allow farmers access to short-term formal credit. It was introduced to ensure that farmers have timely access to credit from banks to fulfil needs related to farming.

The Indian farmer has always been regarded as a living idol of India as they are known to be the most hardworking farmers around the world. Step into any farmland or village of India and you will spot farmers – both male and female - always busy, toiling away at their crops, through every season. 

India is called the land of farmers, as most of the people of the country are directly or indirectly involved in the agriculture sector.Thus, the Government of India has introduced this scheme to cater to the needs of this population.

Who Can Apply for a Kisan Credit Card?

The Kisan Credit Card is meant to offer farmers or people involved in farming activities easy access to credit from banks.The following people are eligible to apply for Kisan Credit Card:

• Owner-cultivator farmer individuals
• Joint borrowers who are owner-cultivators
• Sharecroppers or tenant farmers
• Oral lessees
• SHGs (Self Help Groups) or JLGs (Joint Liability Groups)

How to Apply for Kisan Credit Cards?

If you are eligible for a Kisan Credit Card and want to apply for one, you can do it online as well as offline. The first step before you choose to apply in either of the two ways is to select a bank. Most banks offer a Kisan Credit Card.

Select a bank that is accessible to you and offers high standards of customer service. A bank like IDFC FIRST Bank offers you a Kisan Credit Card along with top-notch service. KCC interest rates are usually some of the lowest, but these may differ from bank to bank. Check for details before you choose a bank to apply for a Kisan Card.

Both modes of application will require you to submit some documents. Hence, it is advisable to have documents such as proofs of identity and address, photographs, documents of the land, and anything else that is necessary.

Here is how you can start Kisan Credit Card online application.

• Log on to the website of the bank and find the Kisan Credit Card scheme section.
• You can look for the ‘Apply’ button, which should lead you to an application form.
• Fill in the correct details, upload the required documents, and ‘Submit’ the form.
• You may be given an application number or a confirmation message.

With some websites, you may be able to find a relevant set of instructions in the “How to apply for a Kisan Credit Card” section. In most cases, you should be able to check your Kisan Credit Card application status on the website using these details. You should know about KCC application status within a week.

On the other hand, you can apply for a Kisan Credit Card offline by visiting the bank branch of your choice. You should be required to fill an application form and submit it alongside copies of your documents.

Once these formalities are completed and your application is accepted, you should receive your Kisan Credit Card and be able to apply for loans under the KCC scheme. These loans are available at a relatively lower interest rate and can offer a longer repayment duration.

Farmers and people engaged in agricultural activities can easily fall into the traps of informal loans, which may put them under financial stress. Kisan Credit Cards offer formal loans through banks to support farming activities. Their easy availability and low KCC interest rates are incentives for farmers to apply for a card and opt for these loans.

A bank like IDFC FIRST Bank understands the needs of a farmer and the growth potential of the agricultural sector of our country. This is why getting a credit card from IDFC FIRST Bank ensures that you will be creating an alliance with a bank that puts your needs first. IDFC FIRST Bank also caters to farmers who need loans. Our bank always puts its customers first.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.