How different is the credit card given to farmers from normal credit cards, this much penalty is charged?

In today's era, if you do not have money to make purchases. Even then you can make purchases. For this, now there is a credit card. As seen from the last few years, the number of credit card holders in India is increasing day by day.

If we talk about the present, there are more than 10 crore credit card holders in India. In recent years, a big increase has been seen in them. All the small and big banks of the country provide credit cards. Not only this, the farmers of the country also get the facility of credit card.

A separate credit card has been launched for farmers by the government. In the year 1998, on the recommendation of the National Bank of Agriculture and Rural Development i.e. NABARD, the government launched this credit card for agricultural purchases of farmers.

On 1 February 2025, the country's Finance Minister Nirmala Sitharaman, while presenting the Union Budget, has also increased the limit of Kisan Credit Card. Earlier, it had a limit of Rs 3 lakh. Now it has been increased to Rs 5 lakh.

This question also comes to the mind of many people how different are Kisan Credit Cards from normal credit cards? So let us tell you that both are quite different. Because Kisan Credit Card has been made according to the needs of farmers. And normal credit cards according to the needs of common people.

If we talk about the penalty in this, then where a penalty of up to can be levied on the normal credit card. So it is not so in Kisan Credit Card, if you do not repay the loan within the time period, then a penalty of up to 7% can be levied.

Let us tell you that in a normal credit card, the interest rate ranges from 24% to 48%. So with Kisan Credit Card, you get an annual interest rate of 4% after a subsidy from the government. Along with this, relief is also provided by the government in case of not being able to repay the loan.