Increase in the income of farmers in the country and they should not face any kind of problems while farming. Keeping this in view, the Central and State Governments are running many wonderful schemes at their respective levels. There are a large number of such farmers in the country who are forced to take loans to do farming. Keeping this in view, the government is running a wonderful scheme to meet the farming needs of the farmers. Under this scheme, the government is making a special type of Kisan Credit Card for the farmers. With the help of the Kisan Credit Card, farmers of the country can take loans at very affordable interest rates. Not only this, if the farmer repays the loan taken on Kisan Credit Card on time. In such a situation, they also get an additional discount on interest rates. Let us know about it in detail in this episode -
The bank provides loans to farmers on Kisan Credit Card at an interest rate of 9 percent. However, a 2 percent subsidy on the loan is given by the government. In such a situation, farmers get loans at an interest rate of 7 percent.
Whereas if the farmer repays the loan taken on time. In this situation, farmers are given an additional rebate of three percent. In such a situation, farmers have to pay only 4 percent interest on the loan taken.
With the help of this loan, farmers can buy seeds, fertilizers, pesticides, agricultural equipment, and other things related to farming. Farmers are getting a loan of Rs 1.6 lakh on a Kisan Credit Card without any guarantee.
With the help of Kisan Credit Card, you can take a short-term loan of Rs 3 lakh. The validity of this card is five years. Many farmers in the country are availing loans at very cheap rates through this scheme.
(PC: iStock)
