KCC Interest Calculator
1. What is a KCC Interest Calculator
A KCC Interest Calculator helps farmers calculate the interest on loans taken under the Kisan Credit Card (KCC) scheme based on usage, rate, and duration.
2. What is a Kisan Credit Card (KCC)
The KCC is a government-backed scheme that provides farmers with short-term credit to meet crop-related expenses. It offers low interest and flexible repayment.
3. How does the KCC Interest Calculator work
You enter the amount used, annual interest rate, and number of days. The calculator estimates the interest payable for the loan period under the KCC scheme.
4. What formula is used to calculate KCC interest
The standard formula is:
Interest = (Loan Amount × Annual Interest Rate × No. of Days) / (365 × 100)
5. Is interest calculated on daily usage
Yes, interest on KCC loans is generally calculated on the daily outstanding balance and charged monthly or quarterly depending on the bank’s policy.
6. Is this calculator applicable to all banks
Yes, this calculator can be used for KCC loans from any bank, but actual interest may vary based on subsidy, repayment, and bank-specific conditions.
7. Can it calculate interest on subsidy-based KCC loans
This calculator shows estimated interest. It does not factor in government interest subsidies or incentives. For exact values, contact your bank.
8. Is this KCC Interest Calculator free to use
Yes, the tool is 100% free, easy to use, and available online for farmers and agri-entrepreneurs to plan their loan repayment better.