Big alert for farmers! Deposit Kisan Credit Card money today or else!

Kisan Credit Card- This news has worked for crores of farmers who have taken loans through Kisan Credit Card. Because on the farmer credit card, if the loan taken from the bank for farming is not deposited till 31 August today, 3 percent more interest will have to be paid.

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. Today is the last date on 31 August. Therefore, get the money deposited today. After two days you will be able to withdraw the same amount.

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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.

In view of the lockdown, the Modi government increased it from 31 March to 31 May. Later it was further increased to 31 August. This means that farmers can pay KCC card interest 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- Loans taken on KCC usually have to be repaid 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 again after two or 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 the Kisan Credit Card – The interest rate of loans up to three lakh rupees taken on KCC for farming and farming is 9 percent. But the government gives a subsidy of 2 percent in it. In this way it falls to 7 per cent. 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 farmers and ask them to repay the loan by 31 March. If you do not pay the loan to the bank by that time, then they have to pay 7 percent interest.

 

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