We are already familiar with the Punjab national bank. It is because not only the Punjab national bank is one of the leading government banks of India but also covering the larger area of banks in our country. This bank not only covering the domestic cities but also providing some international services as well. Apart from the services, They recently have launched the PNB Kisan credit card scheme for the farmers. Let’s have a look at the facility and check out what they have to offer the farmers of our country.
PNB Kisan Credit Card:
The Kisan credit card is the new scheme from the Punjab national bank formerly known as Krishi card scheme. It has been provided to the farmers for solving their short term financial problems faced by the Indian farmers today. Through this scheme, the Indian farmers can get financial support in terms of short term loan. Therefore, they can use that money for the cultivation or another investment process on their farms. The purposes like:
- For short – term credit needed for crop cultivation
- Household consumption requirements
- Produce Marketing
- Working capital for the maintenance of farm assets and allied agricultural activities such as inland fishery, dairy animals, etc.
- Harvest Expenses
- Credit for investing in agriculture and allied activities such as sprayers, pump sets, dairy animals, etc.
Features of Punjab National Bank Kisan Credit Card:
- Margin: Unlike other credit card schemes, there is no margin for the investment taken for crop cultivation using Krishi card scheme.
- Security: There is no extra thing required rather than your crops as security. Example: If you have taken one lakh rs of loan from the bank under the Krishi card scheme, then some of the crops will be covered under the bank as a security.
- Credit Limit: It depends upon the cultivation of crops, land the farmer is having. Although, an Individual farmer can get up to Rs 20 lakh of credit card limit under the Kisan Credit scheme from Punjab national bank.
- Quick application: There is no need to stand up on the line. If you think you are eligible for this (You can check out the eligibility criteria we have posted below for this), then you can directly visit the bank for rest of the process.
- You should be a farmer, and it doesn’t matter you are literate or illiterate. You should have valid proofs to show that uses a particular land for the cultivation of crops.
- The rented farmers can take benefit of this scheme if the landowner is agreed to become the co-borrower under the Punjab national bank Kisan credit card yojana.
- Landless labours can get a maximum of up to Rs 5000 under this scheme.
- The applicant should be more than 21 years of age.
- The applicant can even take this scheme under the Joint loan programme offered by Punjab national bank.
- Punjab national bank does not charge any processing fees for the credit limit of up to Rs 3 lakh.
- There is an upfront fee of 0.6%+service tax will be charged.
Punjab national bank Kisan credit card Yojana is the best step towards the future of Indian farmers. They can quickly take the short term credit limit based on their eligibility and can invest in more cultivation of the crops. There is nothing much security is even needed for this scheme as long as the farmer is paying the EMI’s on time. Do let us know in the comments section if anything is not understandable.
Krishna Murthy is the senior publisher at Trickyfinance. Krishna Murthy was one of the brilliant students during his college days. He completed his education in MBA (Master of Business Administration), and he is currently managing the all workload for sharing the best banking information over the internet. The main purpose of starting Tricky Finance is to provide all the precious information related to businesses and the banks to his readers.