Understanding the Interest Rate on Kisan Credit Card and Other Card Limits

An Indian government-backed loan program for farmers is called the Kisan loan Card. Their access to financing facilities for agricultural endeavors, such as crop cultivation, animal husbandry, and other related activities, is the goal of this plan. The program is administered by numerous banks throughout the nation, and the interest rates may differ from one bank to another.

Since the interest rate on the Kisan Credit Card is typically lower than that of other credit cards, farmers can afford it. Depending on the bank and the loan limit, the interest rate may be in the range of 7% to 9% annually. Depending on the bank’s policy, the interest rate is determined either daily or monthly.

The Kisan Credit Card’s credit limit is determined by the farmer’s landholding, crop rotation, and other variables. The Kisan Credit Card’s maximum credit limit is Rs. 3 lakhs, although depending on the farmer’s creditworthiness, some banks may grant a greater amount. Farmers can take as much credit as they need, and only the amount taken out is subject to interest charges.

Comparing black cards to other credit card kinds, the black card’s limit is typically larger. Black cards are specialized credit cards for wealthy people that come with a number of perks like concierge services, access to airport lounges, and more. Depending on the bank and the cardholder’s creditworthiness, the credit limit on a black card might range from Rs. 10 lakh to Rs. 50 lakh.

A credit card known as a “gold card” provides superior perks to a regular credit card. Higher credit limits, lower interest rates, and more reward points are typically features of gold credit cards. Depending on the bank and the cardholder’s creditworthiness, the credit limit on a gold card might range from Rs. 1 lakh to Rs. 5 lakhs.

Finally, there are credit cards known as titanium or platinum cards that are more expensive than a black card. These cards are much more exclusive than black cards and provide even more privileges, like private jet services, extravagant vacation packages, and others. These cards have credit limits that can range from Rs. 50 lakhs to Rs. 1 crore, depending on the bank and the creditworthiness of the customer.

In conclusion, the Kisan Credit Card has a lower interest rate than other credit cards, and its credit limit is determined by the amount of land a farmer owns, among other things. Higher credit limits and unique advantages are offered to cardholders of other credit cards, such as black, gold, titanium, and platinum. The proper credit card must be selected based on one’s needs and creditworthiness.