The government is running several programs to boost farmers’ income, and one of them is the Pashu Kisan Credit Card Yojana. This scheme allows farmers to take out loans to purchase cows and buffaloes, with the new budget enabling loans of up to Rs 5 lakh.
With the Kisan Credit Card, farmers can secure a loan of Rs 5 lakh, which can also be used for buying livestock. Here’s a breakdown of the loan amounts available for different animals:
– For a buffalo: Rs 60,249
– For a cow: Rs 40,783
– For sheep and goats: Rs 4,063
– For chickens: Rs 720 each
As for interest rates, farmers will need to pay 7% on loans taken through the Kisan Credit Card. If they repay up to Rs 2 lakh on time, they can receive a 3% incentive. Additionally, if they pay off the loan early, they can get a loan of Rs 2 lakh at a lower interest rate of 4% per year.
To apply, farmers can visit their nearest bank to take advantage of the Pashu Kisan Credit Card Scheme. The bank will provide an application form that needs to be filled out and submitted. Once the KYC process is completed and verified by the bank, farmers can expect to receive their Pashu Kisan Credit Card within 15 days.
When applying, farmers will need to provide several documents, including their PAN card, Aadhaar card, bank account information, a passport-sized photo, details about the animals, and land documents.
Eligibility for the Pashu Kisan Credit Card includes animal husbandry farmers, fish farmers, dairy farmers, poultry farmers, and others in similar fields.