Big alert for farmers! Deposit Kisan Credit Card money by tomorrow or else …!

Kisan Credit Card- This news is very useful for crores of farmers who have taken loans through Kisan Credit Card. Because on the Kisan Credit Card, if you do not deposit the loan taken from the bank for farming – till August 31, you will have to pay 3 percent more interest.




new Delhi. Kisan Credit Card- KCC is proving very helpful in Coronavirus Crisis. Also, it is helping to revive rural economy and accelerate agricultural growth rate. This is very important news for more than 8 crore Kisan Credit Card holders in the country at this time. Keep in mind the date of repaying the farm loan taken from the bank, otherwise this mistake will fall on your pocket. If you do not pay the loan on time, then you will have to pay 7 percent interest instead of 4. Its deadline is August 31, two days later.




Government announced about KCC- Now, under KCC, orders have been given to give loans of Rs 1.60 lakh to farmers without any guarantee for farming. Earlier this limit used to be only 1 lakh rupees. The government is giving loans without guarantee so that the providers do not get caught in the clutches of moneylenders. Banks have also been ordered to issue KCC within 15 days of submitting the application. The processing charge for making the card has been abolished.

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In view of the lockdown, the Modi government extended it from 31 March to 31 May. Later it was further increased to 31 August. This means that farmers can pay the interest of KCC card at the old rate of only 4 percent per year till 31 August. Later it will be three percent expensive.




Why it is important to pay the Kisan Credit Card by 31 August – The loan taken on KCC usually has to be returned by 31 March. However, due to the lockdown implemented in the country to prevent the infection of corona virus, it was further extended. Now the last date for loan payment is 31 August. Those farmers who want to deposit money on time can take advantage of interest rebate. Withdraw money after two to four days. In this way your record in the bank will also be fine and there will be no shortage of money for farming.




How much interest is to be paid on Kisan Credit Card – For agriculture and farming, the interest rate of loans up to three lakh rupees taken on KCC is 9 percent. But the government gives a subsidy of 2 percent in it. In this way it falls to 7 percent But on return on time, you get 3% more discount. In this way, its rate is only 4 percent for the aware farmers. Usually banks inform the farmers and ask them to repay the loan by 31 March. If by that time you do not pay the loan to the bank, then they have to pay 7 percent interest.

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