Kisan Credit Card, also known as KCC, is a special scheme introduced by NABARD and Reserve bank of India in 1998 all over India. The main motive of this scheme is to provide quick and easy credit to the farmers through the formal banking system rather than depending on the private banks which could be expensive. Currently, the Kisan Credit Card is offered by National Bank of Agriculture and Rural Development (NABARD), cooperative banks, regional rural banks and Public sector banks.

The credit limit on the card depends on the agricultural activities and as per the cultivation needs/requirements of the farmers. In case of loss of crops, the cardholders get insurance coverage against it to a certain limit. Based on review, the credit limit and tenure can be increased.

Additional Reading: What Is The Limit Of Kisan Credit Card
    
The interest rate on KCC is also determined by the lending bank. However, the average interest rate applicable ranges from 9% - 14% p.a.and the cardholder with sound repayment record can avail subsidy for up to 2%. The applicants should have minimum of 18 years old and maximum of 75 years of age at the time of loan maturity.
    
Repayment Tenure
    
The bank or the financial institution offering the credit determines the repayment tenure of the KCC loan. The anticipated harvesting and marketing period of the crops are considered for short term credit. The maximum tenure for Long term loans is up to five years of disbursement.
    
Top Banks that offer Kisan Credit Card:

  • NABARD - NABARD provides term loans and easily accessible credit to farmers.    

  • NPCI - RuPay Kisan credit cards are launched by National Payments Corporation of India (NCPI), as a part of its domestic card scheme for multilateral payments.    

  • IDBI Bank - The bank offers KCC to farmers with additional perks, such as  crop loans, investment credit and working capital in order to meet the agricultural expenses.    

  • Bank of India - Provides flexible financial support to farmers to support their cultivation needs.    

  • SBI - Short-term credit is offered by SBI to farmers    

  • Axis Bank - The Kisan Credit Card is also referred to as the Krishi Card, and they offer high value loans which include cash credit and term loans to the farmers to support their farming business.