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    Utkal Grameen Bank Kisan Credit Card

    Credit Card BYTES FROM OUR KITCHEN

    Overview of Utkal Grameen Bank Kisan Credit Card:

    Utkal Grameen Bank was established in 2012 and is a regional rural bank that specifically caters to the banking and financial needs of farmers and agriculturists. At present, the bank operates in 17 districts of Southern and Western Orissa. After NABARD realized the need to come up with a credit card that would offer timely credit and insurance coverage to the farmers, Kisan Credit Card was introduced. Kisan Credit Card offers adequate funds for farmers under a single window.

    Utkal Grameen Bank Kisan Credit Card will offer comprehensive credit facilities to farmers through a hassle-free procedure and simple documentation. Utkal Grameen Bank Kisan Credit Card loan will be flexible in nature and can be used for both crop loan and investment credit. In short, with Utkal Grameen Bank Kisan Credit Card, the farmers will get the convenience of getting money at the time of need for agriculture purposes.

    Features and Benefits of Utkal Grameen Bank Kisan Credit Card:

    With the following advantages that accompany Utkal Grameen Bank Kisan Credit Card, farmers will be able avail reliable credit at nominal interest rates.

    • No Seasonal Appraisal:

      With Utkal Grameen Bank Kisan Credit Card, credit facility is extended for a period of five years. The cardholder need not submit all documents for verification every year during the validity period.

    • Assured Availability:

      Utkal Grameen Bank Kisan Credit Card guarantees assured availability of credit at any given point of time and season. This surety not only helps the farmer for purchasing fertilizers and seeds at the required time but also removes rigidity regarding cash.

    • Loan Quantum:

      The maximum loan quantum is decided based on the cardholder’s agricultural income.

    • Flexible Repayment:

      Repayment of the loan can be done after harvest. This feature offers complete peace of mind and financial flexibility to the farmers.

    • Affordable Rate of Interest:

      The rate of interest is very nominal and will reduce the financial burden of the farmer. Also, the interest rate is as applicable to production agricultural credit.

    • Direct Disbursement Channels:

      The loan disbursement process is direct and made simple for the benefit of borrowers.

    • Operative Flexibility:

      The surplus loan amount can be deposited into KCC account and the total credit limit can be availed whenever funds are required during the validity period of Utkal Grameen Bank Kisan Credit Card thereby saving interest.

    • Insurance Scheme:

      Personal Accident Insurance Scheme is offered for Utkal Grameen Bank Kisan Credit Cardholders at very affordable premium.

    • Life Insurance:

      Cardholders can also purchase “Swadhan” of SBI Life and avail the full benefit of life insurance.

    • Cards Issue:

      Cardholders will be issued a pass book with name, address, borrowing limit, particulars of land holding and validity period along with the Kisan Credit Card.

    • Contingent Credit Needs:

      For the benefit of farmers and agriculturists, contingent credit needs are also suitably incorporated in the KCC facility. The credit needs for emergency situations including marriage ceremony, funeral, death & birth, education of children will be catered under this scheme. The loan for contingent needs will be added to the total credit limit under Kisan Credit Card scheme and the cardholder can avail this facility as and when required.

    Eligibility for Utkal Grameen Bank Kisan Credit Card:

    An applicant must satisfy the following criteria to be able to apply for Utkal Grameen Bank Kisan Credit Card.

    • The applicant must be an Indian resident and must be aged at least 18 years.
    • Existing borrower farmers who have a good track record for a period of at least 2 years and who need a production credit limit of Rs. 5,000 and above are eligible to apply for Utkal Grameen Bank Kisan Credit Card.
    • This facility may also be extended to new borrowers if the concerned Utkal Grameen Bank branch finds the individual credit worthy.

    To know more about the eligibility criteria given above or to get a detailed list of eligibility criteria, do get in touch with Utkal Grameen Bank.

    Documentation for Utkal Grameen Bank Kisan Credit Card:

    The documentation for Utkal Grameen Bank Kisan Credit Card is same as those prescribed for Agricultural Cash Credit. The following documents will be required to complete the application process for Utkal Grameen Bank Kisan Credit Card.

    • KYC Documents - Identity proof and address proof. For this purpose, the applicant has to submit documents like PAN card, voter ID and Aadhaar card.
    • Land documents, if applicable.
    • Duly filled and signed application form with passport size photographs.

    As per the sanction condition, the applicant might be asked to submit other relevant documents. Do enquire with Utkal Grameen Bank about the complete list of documents required before proceeding with the Utkal Grameen Bank Kisan Credit Card application process.

    Interest Rates for Utkal Grameen Bank Kisan Credit Card Crop Loans:

    The rate of interest for Utkal Grameen Bank Kisan Credit Card loans will be the same as that applicable for Agricultural cash credit and crop loans.

    The Interest Rate for Utkal Grameen Bank Kisan Credit Card loans is currently fixed at 7% per annum. As interest rate components are subject to frequent change, do enquire with Utkal Grameen Bank about the prevailing rates and charges before availing a loan.

    Utkal Grameen Bank Kisan Credit Card FAQs:

    1. How many withdrawals in a month can be made using Utkal Grameen Bank Kisan Credit Card?

      Any number of withdrawals can be made using Utkal Grameen Bank Kisan Credit Card. However, the withdrawals are subject to the available credit limit.

    2. How much can a cardholder borrow using Utkal Grameen Bank Kisan Credit Card for contingency needs?

      The cardholder can borrow up to 20% of the maximum credit limit, subject to a maximum credit of Rs. 10, 000 for contingency credit needs.

    3. What is the validity period for Utkal Grameen Bank Kisan Credit Card?

      The Utkal Grameen Bank Kisan Credit Card is normally valid for a period of 5 years subject to an annual review. Depending on the performance of the cardholder, the credit limit might be enhanced, reduced or cancelled.

    4. What will happen to the surplus money in Kisan Credit Card account?

      If the account is in credit balance, the cardholder will gain interest on the balance at the interest rate applicable to savings bank account.

    5. How to get Utkal Grameen Bank Kisan Credit Card?
      • Approach the nearest Utkal Grameen Bank and get to know all information about Kisan Credit Cards.
      • Fill in the application form for Kisan Credit Cards which can be downloaded online or can be got at the bank branch.
      • After assessing your eligibility, Utkal Grameen Bank will offer you a Kisan Credit Card, if you are eligible.
      • Cardholders will also get credit card cum passbook which will bear the particulars of land holding, address, name, passport size photograph of the holder and the same will serve as identity card and facilitate the recording of transactions on an ongoing basis.
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