We all know how pathetic the economic condition of the farmers is, it becomes difficult to say who should be held responsible for that. There are many such areas in India where there is very little facility of canal water and electricity, so there is a need for modern means for farming. The economic condition of the farmers is not so strong that they can easily grow crops on their agricultural area or their agricultural land.
To ameliorate this pathetic condition of the farmers, the Government of India introduced Kisan Credit Card (KCC). Starting any type of agricultural loan was a step taken by the government to help the financially weak farmers so that they can take money in the form of loan through KCC at low interest. In today’s post, we will tell you about Axis Bank.
Requirements for Axis Bank Kisan Credit Card
Be it any loan, whether it is taken directly from the bank or through online medium, it is very important to take care of the things related to them before taking any loan whether it is of large level or small level. is | What do you need to get a small or large scale loan?
And in all this, how much loan can you take from KCC by the bank and the documents required for it, what will be the rate of interest and how much EMI will you pay to fill it and whether it will benefit you or not. It is very important for you to know all these things because all this information will be very beneficial for you in your loan related information:
- Eligibility
- Documents
- Rate of Interest
- How to Apply
- Benefit
Eligibility for Axis Bank Kisan Credit Card
Kisan Credit Card Loan is provided to those people who are engaged in agriculture, allied activities or other non-farming activities. Following are the conditions to be eligible for Kisan Credit Card Loan:
- Minimum Age – 18 Years
- Maximum Age – 75 Years
- A co-applicant is mandatory if the applicant is a senior citizen (above 60 years of age) where the co-applicant should be a legal heir
- All Farmers – Individual / Joint Farmer, Proprietor
- Tenant farmers, oral lessees, and sharecroppers etc.
- SHGs or Joint Liability Groups including tenant farmers
Documents for Axis Bank Kisan Credit Card :
- Pan card
- Aadhar Card
- Driver’s license
- Passport
- Voter id card
- Utility bill from preceding three months
- Property registration document
- Bank account
- Job card issued under Mahatma Gandhi Rural Employment Guarantee Act (MNREGA)
Rate of Interest for Axis Bank Kisan Credit Card
The rate at which interest is charged/given in each period on any money deposited, lent, or borrowed is called interest rate. For example, if the rate of interest is 8 percent per annum, it means that for every Rs 100 deposited, interest of Rs 8 will be given in a year.
The magnification period is one year, half year, quarter year, one month etc. Any bank loan, it is natural to have the rate of interest in it, like any bank or any financial institution that gives money as a loan, then the borrower has to pay interest on it. In today’s post we Axis Bank about interest paid on loans were from: Axis Bank KCC Loan
- Minimum interest rate 8.85
- Maximum interest rate 14.10
How to Apply for Axis Bank Kisan Credit Card
You can apply for KCC in any bank but first of all you must know that KCC card facility is provided at the nearest bank to you. Whether or not KCC facility is provided there, then you can take KCC from there. Today’s post on how to apply for Kisan Credit Card from Axis Bank online and offline:
Offline
To apply for this card one can visit his/her nearest Axis Bank branch. One needs to fill the application form and submit the required documents. Alternatively, one can download the form from the Axis Bank website and submit it to the branch along with the required paperwork.
Online
Those who do not wish to visit the branch can apply for the card through the bank’s website. They can log in to Kisan Credit Card page and click on “ Apply Now ”.
Benefit for Axis Bank Kisan Credit Card :
1. Loan Amount :- Farmers can get loan amount up to Rs. 2.50 Lakh with Axis Bank Kisan Credit Card option.
2. Loan Tenure:- Axis Bank allows flexible loan repayment tenure. They have a hassle free renewal process for the tenure of the loan. The tenure is fixed by allowing a reasonable period for marketing of agricultural produce after harvest. The tenure is up to one year for cash loans and up to 7 years for term loans.
3. Coverage:- Loans cover agricultural needs like purchase of inputs, etc. It also covers investment needs like purchase of farm equipment, land, development, repair of agricultural machinery and other needs. Household needs like education of children and expenses on other family functions are also covered under this loan. With Kisan Credit Card one can choose between Kisan Credit and Term Loan. It has favorable payment terms.
4. Insurance :- The loan also provides free accidental insurance coverage for farmers up to Rs. 50,000. Crop insurance is available for all the notified crops under the Pradhan Mantri Fasal Bima Yojana.
5. Prompt disbursal :- The farmer can easily get the loan by the decision decided by the bank. Quick approvals and timely disbursement along with simplified documentation are some of the main advantages.
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