The Kisan Credit Card scheme provides affordable credit to farmers for crop cultivation and allied activities. Organic farmers are eligible on the same terms as conventional farmers.
Interest Structure:
• Up to ₹3 lakh: 7% p.a. (effective 4% with prompt repayment bonus)
• ₹3-10 lakh: MCLR + 2.50% (~11.20%)
• Above ₹10 lakh: MCLR + 3.00% (~11.70%)
Key Benefits:
• 3% additional interest subvention for prompt repayment
• Zero processing fee for loans up to ₹3 lakh
• 5-year validity with annual review
• Covers crop cultivation, dairy, animal husbandry, fisheries