Top KCC Loan Scheme By Banks In India For Farmers The agriculture needs of the individuals can be fulfilled by applying for a Kisan Credit Card from the selected banks. Using Kisan credit card you can borrow a loan amount from the bank and can pay the amount in installments. Whether you are a tenant farmer or belong to a self-help group you can apply for the KCC loan scheme from the bank. To know which bank provides Kisan credit cards to the customers read the given article. Banks and their KCC loan schemes Axis Bank: You can get high loan values maximum up to 250 lakh using the Kisan credit card and can apply for a term loan or cash credit from Axis Bank. the bank provides you a maximum repayment duration up to 7 years for the term loan whereas 1 year for cash credit limit. The KCC loan interest rate charged by the Axis bank for the production cost is 8.85% and the same would be charged for the investment credit. State Bank Of India: By applying for a Kisan credit card from SBI you can manage agriculture and financial costs easily. You can take a term loan from the bank at an interest rate of 7% per annum. Now, cropping costs can be managed easily with the SBI KCC loan scheme for the farmers. The repayment can be done in 5 years depending on the production of crops during the harvesting season. Bank Of Baroda: You can take minimum INR 5,000 using your Bank Of Baroda Kisan credit card. You can take a term loan, demand loan and cash credit using the BKCC loan scheme. Tenant farmers, sharecroppers and land cultivators can avail the Kisan credit card and can pay for the loan amount in equated monthly loan installments. Is collateral required for KCC loan? Some banks ask for collateral like the total crop production or land ownership papers from the farmers. One such bank is SBI that provides a term loan to the farmers only if a security is provided for the borrowed loan amount. If you apply for a KCC loan up to INR 1.60 lakh from SBI then you don’t need to provide any collateral for the amount otherwise, you need to offer collateral for a higher loan amount. Not every bank asks for collateral some banks don't require any collateral for your KCC loan scheme such as Bank Of Baroda. Which documents are required for the KCC loan scheme? The applicant just needs to provide a few documents to the bank for the Kisan credit card such as ID proof, address proof and land ownership or rent agreement papers. When your Kisan credit card is made then you don’t have to provide any further documents to apply for a term loan or cash credit from the bank. The KCC loan scheme is especially for the farmers who out
their hard work to grow their crops and to fill the daily meals of every single person. So, the banks have provided the Kisan credit card so that the user can easily apply for a loan whenever they need it whether for agriculture needs or financial requirements.