Loans up to Rs 3 lakh using Kisan Credit Card will be available at interest upto 3%

Loans up to Rs 3 lakh using Kisan Credit Card will be available at interest upto 3%
Prime Minister Narendra Modi last month handed over Kisan credit cards to beneficiaries under the PM Kisan Honor Fund. In this program, he announced a loan of Rs. 1,60,000 without any guarantee on the credit card to the beneficiaries under the Prime Minister Kisan Yojana. In addition, under this scheme, loans up to Rs 3 lakh will be available at an estimated 3% interest. Learn how you can take advantage of this plan.
Kisan credit card holders can get loans up to Rs 3 lakh at four per cent interest. But it is a condition to pay on the loan at a fixed time.
According to the state-owned Indian State Bank, if the loan is repaid by the farmer at a fixed time, the interest rate will be 3%. If you are late in repaying the loan, 5% interest will be charged.
If the loan of Rs 1,60,000 is repaid from the farmer on time, then another loan of Rs 3 lakh will be available. There is no guarantee of any kind of loan up to Rs. 1 lac.
Loans to farmers will be levied only by banks on interest. But compound interest will be charged on bank defaulters or late payments.
For the first time the loan will be given by the bank officials, after planting the farmer's crop and then calculating the expenses. Then, if the loan is repaid on time, the second loan limit will be reduced to Rs three lakh.

Not only that, the farmer who takes the credit card amount will get his crop insurance for free. In addition, farmers who hold Kisan credit card will be given more interest on their interest account.
‌  ‌👇
  click here to view Gujrati