CM Kisan Card Interest Rates and Easy Repayment Options
Farming is the main support of India. To give farmers quick and cheap loans, states have started the CM Kisan Card. With this card, farmers can borrow at low interest and pay back easily, without turning to moneylenders.
Read more :Fast Loan & Farmer Support
کاشتکاری ہندوستان کا بنیادی سہارا ہے۔ کسانوں کو فوری اور سستا قرض دینے کے لیے ریاستوں نے سی ایم کسان کارڈ شروع کیا ہے۔ اس کارڈ کے ذریعے، کسان ساہوکاروں کی طرف رجوع کیے بغیر، کم سود پر قرض لے سکتے ہیں اور آسانی سے ادائیگی کر سکتے ہیں۔
Key Features of the Scheme:
- Direct loan access from banks without middlemen.
- Credit facility for seeds, fertilizers, pesticides, and equipment.
- Working capital support for immediate farming needs.
- Interest subsidies and government-backed concessions.
Eligibility Criteria:
- The applicant should be a permanent resident of the state.
- The farmer must own or lease agricultural land.
- Age should be between 18 and 70 years.
- Basic documents like Aadhaar, land papers, and an ID proof are needed.
Interest Rates and Benefits:
- CM Kisan Card loans are available at much lower interest rates compared to regular loans.
- Farmers who repay on time receive additional interest subsidies.
- In many states, rates are as low as 4% to 7% annually.
- This is significantly lower than commercial loans that often charge 10–12% or more.
Loan Limits and Credit Facilities:
- Loan limits are decided based on landholding and crop requirements.
- Even small and marginal farmers are eligible for sufficient credit.
- Flexible limits are set considering crop cycles and risk factors.
Easy Repayment Options:
- Farmers can pay back after the harvest and crop sale.
- Extra time is given if repayment gets delayed.
- In case of floods, drought, or other disasters, banks give easier terms.
Government Subsidies and Support:
- Interest subsidies are directly credited into farmers’ bank accounts.
- In some states, the government provides partial guarantee on behalf of farmers.
- Special relief packages are offered to farmers affected by natural disasters.
Application Process:
Required Documents:
- Aadhaar card or valid ID proof.
- Land ownership/lease documents.
- Bank passbook or account details.
- Passport-size photographs.
Step-by-Step Process:
- Visit the nearest bank or cooperative and apply.
- Submit the needed documents.
- The bank will check and give the Kisan Card.
- The loan goes directly into the farmer’s account.
Benefits for Farmers:
- Immediate financial support for agricultural expenses.
- Freedom from high-interest moneylenders.
- Subsidized interest rates reduce financial burden.
- Flexible repayment ensures lower risk and stress.
FAQ’s:
Can small farmers get this scheme?
Yes, small and marginal farmers are given preference.
What is the repayment time?
It is usually between 6 months and 1 year, depending on the crop.
Do farmers get any benefit for early or timely payment?
Yes, those who pay on time get an extra cut in interest.
Conclusion:
The CM Kisan Card is a helpful scheme for farmers. It gives loans at low interest, with easy repayment and government support. This reduces financial stress, so farmers can focus on their fields and increase their income.