The Kisan Credit Card scheme, a government-backed scheme, offers short-term credit to farmers at affordable interest rates. Like any credit card, there are certain eligibility criteria that you need to meet to enjoy the benefits of this scheme.
To know the Kisan Credit Card eligibility criteria, the paperwork required, and more, read on.
The Reserve Bank of India, through Master Circulars, has specified the Kisan Credit Card eligibility criteria.
According to the directives of RBI, the following list of individuals are eligible:
Individual farmers or joint borrowers who are owner cultivators
Sharecroppers and oral lessees
Joint Liability Groups (JLGs) or Self-Help Groups (SHGs) made up of individual farmers who are owner cultivators, tenant farmers, sharecroppers and oral lessees
Individuals owning a registered boat or a fishing vessel, along with a licence or permission to fish in estuaries or the sea
JLGs, SHGs, fish farmers and women groups involved in inland fisheries and aquaculture
JLGs, SHGs and tenant farmers involved in farming rabbits, goats, sheep, birds, and poultry with sheds that are owned, leased or rented
JLGs, SHGs and tenant farmers involved in dairy farming with sheds that are owned, leased or rented
Depending on the partner bank, there may be a few additional Kisan Credit Card eligibility criteria. Here’s a quick look at what these are.
Applicant farmers should be able to raise a production credit of at least ₹5,000
Applicants must be living within the jurisdiction of the bank
Eligible applicants must be between the ages of 18 years and 75 years
Must have a co-borrower (legal heir or immediate kin) if the applicant is above 60 years of age
If you’re someone who satisfies the Kisan Credit Card eligibility criteria, you can proceed to apply for one by submitting the following list of documents.
Two recent passport-size photographs
Duly filled and signed Kisan Credit Card application form
Valid identity proof - PAN card, Aadhaar card, passport, voter’s ID or driving licence
Valid address proof - Ration card, Aadhaar, passport, driving licence, voter’s ID, latest bank account statement or utility bills not older than 3 months
Valid document acting as proof of ownership or lease of land
Depending on the partner bank, you may be asked to submit a few additional documents when applying for a KCC. For instance, if the loan limit that you’re applying for exceeds ₹1.60 Lakhs or ₹3 Lakhs, you may need to submit the required security documents.
There are a few factors that can affect your eligibility for KCC. It is important to get to know what they are, especially if you’re planning on applying for one in the near future. Here’s a brief overview of these factors.
To determine your eligibility for the Kisan Credit Card scheme, a few partner banks may require you to reside within the jurisdiction of the banking institution. Although this criterion is not mandatory, it can drastically boost your chances of getting a Kisan Credit Card.
Your age also plays a huge role when it comes to determining your eligibility for a Kisan Credit Card. You must be 18 years or older and under 75 years of age to apply for a KCC. However, if you’re 60 years of age or older, having a co-borrower, who is either your legal heir or your immediate kin, would be mandatory.
Possessing the requisite licences, permissions and registrations, especially if you’re involved in marine fishing, is mandatory. Without them, you may not be able to apply for a Kisan Credit Card.
More About Payments & Other Credit Cards
Individuals who are between the ages of 18 and 75 can apply for KCC. However, if the applicant is above 60 years of age, it is mandatory to have a co-borrower who is either legal heir or immediate kin.
The Kisan Credit Card eligibility criteria are set by the Reserve Bank of India. Eligible applicants include individual and joint borrowers who are owner cultivators, sharecroppers and oral lessees.
Additionally, Self Help Groups (SHGs) and Joint Liability Groups (JLGs) consisting of farmers, tenant farmers, and sharecroppers are also eligible to benefit from this scheme.
The validity of KCC depends on the bank. However, most have a validity of 5 years which is subject to annual review.
The repayment period varies across banks and depends on the type of credit as well as the type of activity.