New Delhi: The central government gave the farmers a significant gift in the budget presented for 2025-2026. The government has directly increased the Kisan Credit Card limit from Rs 3 lakh to Rs 5 lakh. The purpose of this step is to give a financial boost to the farmers by the government. Many people are taking advantage of Kisan Credit Card, but now you will get a loan of up to Rs 5 lakh at a very low interest rate.
Farmers’ organizations have been demanding this for a long time. Now, you can take a loan of up to Rs 5 lakh at a very low interest rate. Do not delay if you want to benefit from a Kisan Credit Card. You can end your confusion in the article.
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Know what is Kisan Credit Card Scheme?
Do you know what the Kisan Credit Card Scheme is?? The central government started this scheme in 1998 to provide farmers with financial assistance. The government gives the amount of Kisan Credit Cards for fertilizers, seeds, agricultural equipment, and other needs. According to a report, crores of farmers are taking advantage of this scheme till March-April 2024. Farmers are getting a lot of benefits from this scheme from the government.
Changes in the Kisan Credit Card Scheme
Union Finance Minister Nirmala Sitharaman gave the farmers a significant gift by increasing the Kisan Credit Card limit by Rs 2 lakh. The government had increased this limit from Rs 3 lakh to Rs 5 lakh. The government has taken this step according to the needs of the farmers.
Do you know how Kisan Credit Card works?
You will be surprised to know how Kisan Credit Card works. Do you know that Kisan Credit Card contains Personal Identification Number (PIN) and International Identification Number (IIN). It works as a magnetic stripe card. Now, farmers can use this card to withdraw money from ATMs easily. This will make credit readily available at the time of need. At the same time, a loan of up to Rs 5 lakh will be available under the revised interest waiver program.
How much subsidy is available
The government is providing more subsidies for the Kisan Credit Card Scheme. Under the Kisan Credit Card Scheme, the concessional interest rate on loans up to Rs 3 lakh is 7 per cent. A farmer who repays the loan on time gets an interest subsidy of 3per cent. This reduces the final interest rate to only 4 per cent.
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