Want to apply for Kisan Credit Card? Keep these points in mind before applying

Now that the 8th instalment of the PM Kisan Samman Nidhi Yojana is given, farmers should also know about the Kisan Credit Card scheme. The Kisan Credit Card scheme is linked to the PM Kisan Samman Nidhi Yojana. Under this, the Modi government had announced the issuance of Kisan Credit Card to 2.5 crore farmers. A target has been set to provide 2 lakh crore rupees as farmers' loan.

No need for KYC:

Following the linking of PM Kisan Yojana with the Kisan Credit Card, farmers do not need the farmers to get the KYC done. Now farmers have to fill only a one page form to get a Kisan Credit Card. This form can be downloaded from the pmkisan.gov.in website.

Points to note while applying for the Kisan Credit Card:

The minimum age of the farmer applying for Kisan Credit Card should be 18 years and maximum age of 75 years. 

Applicants above 60 years of age will also need a co-applicant to apply.

Under the Kisan Credit Card, a farmer can get a loan of up to Rs 3 lakh for farming. This amount will be paid to the farmer at an interest rate of 4 percent.

In addition to farmers, those who do animal husbandry, fisheries can also apply for agricultural loans under the Kisan Credit Card. It is also not compulsory for the applicant to have agricultural land.

Animal husbandry or fisheries can avail a loan of up to Rs 2 lakh at an interest rate of 4 percent.

The Pradhan Mantri Kisan (PM-Kisan) Samman Nidhi Yojana (Scheme) that looks to provide financial assistance to the tune of Rs 6,000 annually to farmers was disbursed in May. However, now the government has decided to take strict action against fake beneficiaries of the scheme. Several cases have surfaced in Jharkhand where ineligible beneficiaries were taking benefits of the scheme. Following this, the government has registered a case of fraud against them.