interest subvention scheme, prompt repayment incentive, kcc subsidy byaj
KCC interest subvention kya hota hai aur kaise milta hai? What is KCC interest subvention?
RRajan Pillai12mo ago · 299 views
7 Answers
🌾Farmer.in Krishi TeamExpert ✓11mo ago
Interest subvention is the help the government gives so farmers pay much less interest on KCC crop loans. Under the Modified Interest Subvention Scheme (MISS), the government reimburses banks part of the interest so the farmer is charged 7% instead of the full rate. On top of this, a 3% Prompt Repayment Incentive (PRI) is given to farmers who repay their loan on or before the due date, bringing the effective rate down to 4%. This benefit currently applies on short-term loans up to Rs 5 lakh. To get it, your loan account must be seeded with Aadhaar and you must repay on time; one late payment means you lose the rebate for that period. The subsidy is adjusted automatically by the bank, you do not apply separately.
MMohini Deshmukh11mo ago
Yeh subsidy alag se apply nahi karni padti, bank apne aap adjust kar deta hai. Bas dhyan rakho ki Aadhaar loan account se juda ho, warna 3% wala faayda nahi milta.
ZZubair Ahmad10mo ago
I always ask the bank for the exact due date in writing when I take the loan, because the 3% incentive is lost if you repay even a day after it. Knowing the date clearly has saved me the rebate every year.
LLeela Krishnan8mo ago
One year my Aadhaar seeding had dropped off after I changed branches, and I only got the 7% rate, not 4%, even though I repaid on time. So check once a year that your loan account still shows Aadhaar seeded.
HHardik Solanki7mo ago
Note the two parts are separate: the 7% comes just from having the subvented loan, but the extra 3% to reach 4% is only for prompt repayment. If you are ever late, you still keep the basic subvention but lose the prompt-repayment part.
YYashpal Dahiya6mo ago
Subvention sirf short-term crop loan pe milta hai, term loan (jaise tractor ya borewell) pe nahi. Maine galti se sochaa tha ki tractor loan pe bhi 4% lagega, par bank ne bataya wo alag hota hai. Apne loan ka type confirm kar lo.
RReena Chauhan4mo ago
If you ever feel your bank charged you the full rate despite repaying on time and being Aadhaar-seeded, ask for the loan statement and point it out to the branch manager. A neighbour's subvention had not been applied by mistake and the branch corrected it once he raised it in writing.