KCC Card: Farmers are happy, they will get loan at low interest rate on this card, know how to apply
Kisan Credit Card Loan scheme: The government keeps launching new schemes from time to time for the progress of farmers. If you are also a farmer and want to get a loan at low interest (KCC card update) then this news is of your use. Let us tell you, under one of its schemes, the government is providing loans to farmers at very minimum interest (loan on kisan credit card). For which the government has also approved Rs 10 crore for the year 2024-25. Let us understand the complete process of application in detail in the news-
Breaking News, Digital Desk- Bihar government has given a big gift to the farmers. The announcement of Bihar government will provide great relief to the farmers and they can avail benefits up to three lakh rupees.
Actually, Bihar government will now give one percent additional subsidy to the farmers on KCC loan scheme. In such a situation, the farmers taking advantage of this scheme will get four percent subsidy in interest.
It is worth noting that at present, farmers get 3% subsidy on Kisan Credit Card i.e. KCC loan, which is given by the Central Government. Now it has been increased and with the additional 1% subsidy from the Central Government as well as the Bihar Government, farmers will now get a subsidy of 4% (KCC card benefit).
Loan up to three lakh rupees at this percentage of interest
Under this scheme, farmers can take a loan of up to three lakh rupees from the bank. The Bihar government has approved an additional subsidy on interest and now farmers will start getting the benefit of this one additional percentage (KCC card interest rate).
The Bihar government has also approved Rs 10 crore for the year 2024-25, which will be distributed among the farmers in the form of loan. Let us tell you that under this scheme, farmers can take a loan of up to three lakh rupees at 7 percent interest.
For 7 percent interest (kisan credit card benefits), the central government gives a subsidy of three percent to the farmers. Whereas now an additional one percent subsidy has also been announced by the state government. So overall, farmers will get a subsidy of four percent and they will be able to take loan at only 3 percent interest.
Farmers will get this benefit
Let us tell you that any KCC cardholder can take a loan under this scheme. But he will get the benefit of additional interest subsidy only when he returns his loan to the bank within the stipulated time (KCC card scheme benefits).
Actually, by taking a loan under KCC loan, farmers can purchase agricultural technology from it. Along with this, they can also invest in seeds, fertilizers, pesticides, irrigation etc.
Bihar government has taken this decision to increase agricultural production. So if you are also a farmer and want to take advantage of agricultural loan, then you can apply for it today itself (loan for farmers).