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    Dena Bank Kisan Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    Overview of Dena Bank Kisan Gold Credit Card:

    Dena Bank offers the Dena Bank Kisan Gold Credit Card to farmers as a part of its “Whole Farm Approach” and provides loans to them. These term loans can be used by the farmers to finance their investment credit options such as bullock carts, milch animals, well-digging, installing electric motor, laying pipelines, sprinkler or drip irrigation system, and purchase farm machinery or also to finance their day-to-day domestic needs like medical needs, children’s education, and other miscellaneous expenses.

    Features and Benefits of Dena Bank Kisan Gold Credit Card:

    Purpose:

    • These loans can be used by the farmers to finance their investment credit options such as bullock carts, milch animals, well-digging, installing electric motor, laying pipelines, sprinkler or drip irrigation system, etc.
    • They can also use this finance to purchase farm machinery such as farm houses, buildings, tractors and other equipment.
    • Dena Bank Kisan Gold Credit Card holders can also finance their day-to-day domestic needs like medical needs, children’s education, and other miscellaneous expenses.

    Loan Margin:

    The loan margin applicable under this scheme is 15%. This is applicable at a uniform rate.

    Mode of Disbursement:

    Upon the borrower’s request, the term loan amount will be transferred to the Savings Account of the borrower in Dena Bank. The borrower can then withdraw the required sum of money by withdrawing it as cash or issuing the amount as cheques to the supplier.

    The borrower can utilize up to 10% of the credit limit or a maximum of Rs. 50,000 without having to submit a quotation or bill. But, if the disbursement amount is more than Rs. 50,000, then the borrower has to submit receipts, bills or quotes to validate the process.

    Identity Card cum Passbook:

    The Dena Bank Kisan Gold Credit Card holder will receive an Identity Card cum Passbook that will have the borrower’s photograph.

    Validity:

    This scheme has a validity period of 3 years and will be subject to annual reviews by Dena Bank.

    Primary Security:

    The borrower has to place a primary security with the Bank in the form of hypothecation of assets that have been procured using the finance provided by the Bank.

    Collateral Security:

    The borrower has to pledge a collateral security to Dena Bank in the form of a simple charge or mortgage on the agricultural land owned by them. This has to be done through the Sub-Registrar’s office. Other collateral security that is accepted by the Bank is assets of corresponding value such as KVP, NSC, LIC policies or Term Deposit Receipt.

    Repayment Period:

    The maximum repayment tenure offered to a borrower by Dena bank on the term loan against Dena Bank Kisan Gold Credit Card is 7 years. If the loan has been taken to purchase farm equipment or tractors, the maximum repayment tenure will be 9 years.

    Eligibility Criteria for Dena Bank Kisan Gold Credit Card:

    All farmers who have an existing relationship with the bank and other loan accounts for at least 3 years with the Bank, can apply for a Dena Bank Kisan Gold Credit Card, regardless of their land holdings.

    Fees and Charges:

    Charges Fees
    Processing Fee
    • No processing fee are applicable on loan amount less than Rs. 50,000.
    • For loans more than Rs. 50,000 and up to Rs. 5,00,000 will be levied a processing fee of 0.5% of the sanctioned limit. This is a one-time charge only.
    Supervision Charges
    • No supervision charges are applicable on loan amount less than Rs. 50,000.
    • For loans more than Rs. 50,000 and up to Rs. 2,00,000 will be levied a supervision charge of Rs. 25 in each quarter.
    • For loans more than Rs. 2,00,000 and up to Rs. 5,00,000 will be levied a supervision charge of Rs. 50 in each quarter.

    Other Agricultural Banking Products offered by Dena Bank:

    • Dena RuPay KCC Debit cum ATM Card
    • Dena Kisan Credit Card
    • Dena Kisan Tatkal Scheme
    • Dena Agriculture Gold / Silver Loan Scheme
    • Financing farmers for purchase of land for agriculture purpose
    • Dena Kisan all-purpose Term Loan
    • Scheme for financing Pre-seasonal Harvesting and Transport (H&T) advance to Individual Sugarcane
    • Scheme for running / maintenance of Cold Storage units and storage of seed potatoes & other permissible agricultural commodities.
    • Scheme for produce marketing loans to farmers against storage of agricultural commodities and Bulk financing to warehouse / cold Storage / Rural Godowns
    • Scheme for financing to units engaged in grading and sorting of all agricultural commodities
    • Dena Seed Processor’s Finance Scheme
    • Financing construction of Rural Godowns, cold storage, warehouse, etc.
    • Dairy plus Scheme for financing through Village level Utpadak Sahkari Mandalies for onward lending to their members for purchasing of milch animals.
    • Dena Shahri Bagwani Yojna
    • Financing the purchase of Farm Machineries / Excavator
    • Dena Blue Credit Card
    • Dena Krishak Sathi Scheme
    • Dena General Credit Card
    • Agri-Clinic and Agri Business Scheme

    Dena Bank Kisan Gold Credit Card FAQs:

    1. Are there any exemptions to fees paid by the borrowers under the Dena Bank Kisan Gold Credit Card scheme?

      Yes, borrowers who fall under the SC/ST categories are exempt from processing fee as well as supervision charges.

    2. Is it mandatory to have a guarantor in order to be eligible for the Dena Bank Kisan Gold Credit Card?

      No, a guarantor is not required in order to be eligible for the Dena Bank Kisan Gold Credit Card.

    3. Will penalty charges be levied on defaulted repayment?

      Yes, penalty charges are applicable as per the Bank’s guidelines, on all defaulted payments towards the Dena Bank Kisan Gold Credit Card.

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