Utkal Grameen Bank Kisan Credit Card

1. The credit card is valid for 5 years thus there is no need for seasonal appraisals. This means that the borrower will not have to verify with the bank regarding paper works every year.
2. The credit facility is available all the time. The rate of interest charged to farmers is also very low.
3. The money can be used to buy things required for crop production like seeds, fertilizers as per the convenience of the farmer.
4. The limit of the credit is decided on the basis of the income from agriculture production.
5. Repayment of the credit acquired is done post-harvest only.
6. The rate of interest depends on the norms of the bank keeping the agricultural sector in mind.
7. The documents, margin and security are all decided by the bank adhering to its norms.
8. The process of reimbursement is very simple.
9. The farmers can withdraw multiple times up to the credit limit assigned to them.
10. Any amount of surplus money that the farmer has may be deposited in the account and utilize its full limit at any point of time. Thus this helps the farmer to save the interest amount.
11. The bank will pay interest on such surplus cash if the farmer has an account with the bank along with the credit balance.
12. At a very low premium rate, the farmer can also avail personal accidental insurance policy along with the credit card.
13. The credit card holder will get Kisan Credit card cum passbook which will have all the details about the user like name, address, credit limit, the validity of the card, particulars about the land, photograph. This card cum passbook is required at all times whenever he wants to operate the account.

All farmers who need more than ₹ 5,000 credit limit can avail this card. Existing borrowers who have a good record for the last two years can also avail this facility. The bank manager can also have the power to issue the loan to new borrowers if he feels that they have the repayment capacity.

Presently interest is charged at the rate of 7% per annum on Kisan Credit Card.

• One can apply online for the card
• One can visit the nearest branch of the bank to apply for the card.

The Utkal Grameen Bank Kisan credit card has been quite useful for the farmers in order to provide liquidity as well as credit for their daily farming activities.