To apply for the card, farmers can apply by visiting any nearest branch of PNB. Apart from this, the application can also be made after logging in by visiting the registered website of the bank.
Punjab National Bank (PNB) has been coming up with different schemes for the farmers. To meet the agricultural needs of the farmers, PNB is also offering Kisan Credit Card. This card is given in the form of loan to all Indian farmers.
Some qualifications have been prescribed for this card, in which the first thing is that the applicant should be a farmer. He should be (either tenant or owner of agricultural land) and should have right over the cultivated land. Shareholders, tenants, oral tenants or landless farmers are also considered eligible and their credit limit is up to Rs 50,000.
For the application of this card, farmers can apply by visiting any nearest branch of PNB. Apart from this, the application can also be made after logging in by visiting the registered website of the bank. The card offers an interest rate of 7% and a loan of up to Rs 3 lakh on regular crop loans.
This card is fitted with an EMV chip, so that farmers can do secure transactions. Cash withdrawal from KCC does not require visiting a bank branch but the card can be used for withdrawal at ATMs/Micro ATMs. Apart from this, it is also accepted for payment of money at POS machines for purchase of agricultural goods etc. The daily cash withdrawal limit through ATM is Rs 25,000. 10 thousand rupees per transaction can be withdrawn from ATM.
At the same time, the per day limit for POS transactions is Rs 60000. It is known that many other banks are also providing loans and credit cards to the farmers of the country for farming, but the process of giving loans is quite complicated.
