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    Odisha Gramya Bank Kisan Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    Odisha Gramya Bank Kisan Credit Card Scheme Overview:

    Odisha Gramya Bank realises that farmers need credit to perform their daily farming or agricultural activities. Being a company that works in the banking and financial sector, Odisha Gramya Bank has come up with ways to help the farmers. They have introduced various agriculture products or schemes through which they provide loans to the farmers. One such scheme is the Odisha Gramya Bank Kisan Credit Card Scheme.

    The Kisan Credit Card Scheme helps farmers by providing them with money on credit for various purposes such as –

    • For their short term credit requirements
    • For their ancillary or consumption requirements
    • For raising crops
    • For their various agriculture related activities to add to their farm income
    • For buying the various farm equipment

    Features and Benefits of Odisha Gramya Bank Kisan Credit Card Scheme:

    • Margin – For a credit of up to Rs.1, 00, 000, there is no margin. For a credit of more than Rs.1,00,000, the margin ranges from 15 percent to 20 percent
    • Security – Primary security is the hypothecation of the assets and crops that are created using the loan money. The mortgage charge of the bank on immovable property that is supposed to be developed or upgraded using the loan money has to be created
    • Collateral Security – If farmers take a loan that exceeds Rs.1, 00, 000, they have to provide a collateral security. This security can be an immovable property or any other approved security which is to be valued at hundred percent of the loan
    • Processing Fees – For a loan amount of up to Rs.3, 00, 000 through Odisha Gramya Bank Kisan Credit Card, the bank does not charge any processing fee. For a loan amount of more than Rs.3, 00, 000, the bank charges 1 percent of the loan amount as processing fee
    • Repayment – The Kisan Credit Card offered by Odisha Gramya Bank is valid for a period of 5 years and is subject to renewal at yearly intervals
    • Amount of Loan – The amount of loan is dependent on the finance scale.

    Odisha Gramya Bank Kisan Credit Card Eligibility Criteria:

    • Farmers who are owner cultivators are eligible to apply for this card
    • Oral lessees, tenant farmers and sharecroppers are eligible to apply for this card
    • Joint Liability Groups (JLGs) and Self Help Groups (SHGs) of farmers including sharecroppers, tenant farmers are eligible to apply for this card.

    Interest Rates on Odisha Gramya Bank Kisan Credit Card:

    • The rate of interest is 7 percent for a loan amount of up to Rs.1, 00, 000
    • The rate is of interest is 50 Bias points lower than BPLR for a loan amount that exceeds Rs.3, 00,000.

    Other Agricultural Products / Schemes offered by Odisha Gramya Bank:

    Odisha Gramya Bank offers various other agriculture products or schemes besides the Kisan Credit Card, some of them are –

    • Self Help Group Finance
    • JNNSM Finance
    • Dairy Entrepreneurship
    • NRLM Finance

    Odisha Gramya Bank Kisan Credit Card FAQs:

    1. How can a farmer apply for an Odisha Gramya Bank Kisan Credit Card?

      A farmer can apply for an Odisha Gramya Bank Kisan Credit Card by following the steps mentioned below –

      • Visit Odisha Gramya Bank website
      • Locate ‘Downloads’ on the menu bar on the homepage of the website
      • Click on ‘Forms Download’ from the drop down menu of the ‘Downloads’ section
      • Download the application form for Kisan Credit Card, fill it and submit to the bank

      Farmers can also apply for the credit card by visiting any branch of the bank.

    2. How to get more information about Odisha Gramya Bank Kisan Credit Card?

      You can get more information about Odisha Gramya Bank Kisan Credit Card from their website or the nearest branch. You can also contact them on their customer care number to get the information.

    3. Is it important to provide a collateral security while taking a loan through Odisha Gramya Bank Kisan Credit Card?

      Only if farmers are borrowing a loan of more than Rs.1, 00, 000 through their Odisha Gramya Bank Kisan Credit Card, they have to provide a collateral security. If their loan amount is less than Rs.1, 00, 000, a collateral is not required.

    4. Can a farmer take a loan through Odisha Gramya Bank Kisan Credit Card to raise different types of crops?

      Yes, a farmer can take a loan through Odisha Gramya Bank Kisan Credit Card to raise different types of crops

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