Government have introduced many schemes for the benefit of farmers. Kisan Credit Card is one amongs them. Farmers can fullfill their wish using it. It is common for farmers that they take loan for money lender on high interest rate. And if they failed in returning it, they have to face many consequences.
But Kisan credit card will help in buying seeds or any farming instrument. The interest rate of Kisan credit card is also very low.
farmers can borrow loan up to 3 lakh from Kisan credit card. The maximum interest rate is 7 percent and if a farmer returns money on time they will get subsidy up to 3 percent. That means they only have to pay 4 percent interest on their loan.
