Asked by: Chunling Shangpersonal finance student financial aid
What is the process of KCC loan?
Last Updated: 29th June, 2020
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Also to know is, what is the procedure of KCC loan?
Kisan Credit Card (KCC) is an initiative by theGovernment of India to ensure that farmers of the country haveaccess to credit at an affordable rate. This scheme was launched inAugust 1998 based on the recommendations of a special committeeformed for inputs on loans and agriculturalwelfare.
Additionally, what is KCC account? The Kisan Credit Card (KCC) scheme is a creditscheme introduced in August 1998 by Indian banks. This model schemewas prepared by the National Bank for Agriculture and RuralDevelopment (NABARD) on the recommendations of R.V.GUPTA committeeto provide term loans and agricultural needs.
Just so, what is the interest rate of KCC loan?
As per the official SBI website, features and benefitsof KCC include: - SBI offers interest at saving bankrate on credit balance in the KCC account. - AKCC holder also gets a free ATM-cum-debit card. - SBI isproviding interest subvention at 2 per cent per annum forloan amount up to Rs 3 Lakh.
What is KCC limit?
A flexible limit of Rs.10,000 to Rs.50,000 beprovided (as Flexi KCC) based on the land holding and cropsgrown including post harvest warehouse storage related credit needsand other farm expenses, consumption needs, etc., plus small termloan investments like purchase of farm equipments, establishingmini dairy/