A kisan credit card is an initiative by the Indian Government and provided by the Oriental Bank of Commerce (OBC) to give financial assistance to the farmers. The scheme was launched in 1998 with an aim to eliminate the financial crisis faced by the farmers and to solve the problem of debt faced by them. This was initiated by the National Bank for Agriculture and Rural Development (NABARD). The kisan credit card rescues farmers from their burden and makes their lives easier.
Who are eligible to get the OBC KCC Card?
- The Kisan Credit Card can be provided to farmers who are owners or cultivators of agricultural land.
- It can also be issued to a self-help group of farmers.
- Tenant farmers can avail this card
- Fishermen who have agricultural business can get this card.
- Dairy farmers can get this credit card.
The following documents are to be produced for eligibility
- The candidate needs to fill an application or form provided by the Bank in order to avail the facility.
- An address proof is to be submitted (Aadhar card, PAN card)
- A proof of address like voter card or Aadhar card is to be submitted.
The Kisan Credit Card is offered by various banks such as State Bank of India(SBI), Bank of India and Axis Banks.
How to apply for OBC Kisan Credit Card?
The applicant or farmer can visit a nearby branch of an Oriental Bank of Commence bank. They can enquire about the card and the bank staff will guide them with the application form and further details. With proper documents and if eligible, the farmer can avail the OBC Kisan Credit Card.
Alternately, you can visit the official site of the OBC bank (now Punjab National Bank) Look for a Kisan credit card and download the application form. Duly fill the application form and submit it to your nearest bank branch. The credit card will be dispatched and sent to you after proper inspection.
Can you get Loan on Kisan credit card From OBC?
- Farmers are offered Loans at low interest to enhance their banking experience. Furthermore they following features define loan on KCC.
- There is no limit on the loan that can be borrowed using this credit card. But the credit history of a farmer is also kept in mind while giving out a loan.
- The farmers have to provide some security against a loan. They can’t take a loan without giving the bank some sort of assurance. The security provided can range from crops, good and services, or their agricultural land.
- Rate of interest on the loans availed are really less. They range from 2.25% to 3.50%.
- The farmers can avail loan upto 3 lakhs under this scheme.
- The repayment of loans are made easier by setting the time for repayment around harvesting or marketing period for the crop.
Like any other bank, you can opt for OBC Kisan Credit Card Loan. For that, you will need to visit Punjab National Bank and apply for one.
What are the Benefits of KCC?
- The rate of interest offered by the banks for Kisan credit cards are attractive and low. They are easily affordable.
- Distribution of loans and money to farmers has been easier since then. The lending and sending money through a credit card has encouraged more farmers to use this card.
- Repayment of loans is easy now and can be done without any complications.
- The credit limit for an account can be increased based on income or special request.
- The Kisan Credit Yojna also provides insurance against damage of crops which ensures that the farmers don’t go into debts.
Should You take a OBC KCC Loan?
You should definitely consider taking a OBC KCC loan if you need one. As per this Central Government scheme, you are given a loan at a very small interest. Apply for OBC KCC loan today.
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