Odisha Gramya Bank Kisan Credit Card

To be eligible for Odisha Gramya Bank Kisan Credit Card the candidate must meet the following criteria:

• Farmers who are owners or cultivators
• Tenant farmers ,Oral lessees and Share croppers
• Self Help Groups (SHGs) and Joint Liability Groups (JLGs) of farmers including tenant farmers, share croppers.

Odisha Gramya Bank Kisan Credit Card has the following features and benefits:

• Interest Rate: For a loan amount of up to ₹ 1.00 Lakh the rate of interest to be paid is 7%. However, if a loan amount goes above ₹ 3.00 Lakh the interest rate is 50 Bias points less than BPLR.
• No/Minimal Margin: Margin is nil if for a credit of up to ₹ 1.00 Lakh. For a credit of more than ₹1.00 Lakh the margin ranges from 15 percent to 20 percent
• Security: Farmers need to provide the hypothecation of the assets and crops that were produced using loan money. For Loan amount over ₹ 1.00 Lakh farmers will have to provide collateral security which can be an immovable property or any other approved security. The collateral security sought will be equivalent to the loan amount. Bank’s Mortgage charge on the immovable property that is to be up-graded or developed out of loan will be sought as well.
• Processing Fees: Odisha Gramya Bank does not charge any processing fee if the loan amount taken through the Kisan Credit card is up to ₹ 3.00 Lakh. However, the bank charges 1 percent of the loan amount as processing fee for loans exceeding ₹ 3.00 Lakh.
• Repayment: Odisha Gramya Bank Kisan Credit Card will remain valid for 5 years with yearly renewal.
• Loan Amount: The loan amount is based on Scale of Finance (SOF).

Applicants are required to submit the following documents in order to obtain the Kisan Credit Card:

Identity Proof	Passport, PAN Card, Aadhaar Card, Voter’s ID Card, Driving Licence, Photo Credit Card, Central and State Govt. issued Photo ID Proof, Defence ID Card, etc.
Residence Proof	Aadhaar Card, Ration Card, Passport, Bank Account Statement, Voter’s ID Card, Letter from any recognized public authority, Telephone Bill, Electricity Bill, Water Bill etc (not more than 3 months old), etc.
Income Proof	Salary Slips (not more than 3 months old), Bank Statements (not more than 3 months old), ITR, Form-16, etc.

Any one document per category is required.

Besides the fore mentioned documents applicant must also submit:

• Recent passport size photograph.
  Duly-filled and signed application form.

1. How do the farmers get more information about Odisha Gramya Bank Kisan Credit Card?

The farmers can get more information about Odisha Gramya Bank Kisan Credit Card from the website of the bank or the nearest branch.

2. How many times can a farmer withdraw money through Odisha Gramya Bank Kisan Credit Card using ATMs?

The farmers can withdraw money as many times they want through the Kisan Credit Card using ATMs until the card limit is reached.

3. Can a farmer produce different types of crops using the loan take through the Kisan Credit Card?

Yes. A farmer can produce different types of crops using the loan taken through the Kisan Credit Card.

4. Who can apply for Odisha Gramya Bank Kisan Credit Card?

A citizen of India can apply for Odisha Gramya Bank Kisan Credit Card.

5.      Does the bank seek collateral on the loan?

The bank seeks collateral for loans over ₹ 1.00 Lakh. The collateral can be in the form of immovable asset or anything that the bank sees fit. However, hypothecation of future crops and asset that will be created out of the loan amount is sought in all cases.

Suggested Reading: What is Kisan Credit Card?