For every small or big thing, we need money…isn’t it. In agriculture sector also farmers need money to buy modern machines or equipment. There are many farmers in the country who are unable to do farming because of lack of money. To solve this problem, banks provide easy loans to farmers.
Moreover, a special card is being launched by Union Bank of India for benefit of farmers. It is known as Green Card.
What is a Green Card?
Through this card, farmers can meet the working capital requirements. Under this, loans are provided to the farmers for works like minor irrigation, agricultural machines, etc. Apart from this, for other important work such as education, consumable items, medical specialities also, 25 percent or 50 thousand rupees’ loans are given, whichever is less. One more thing to mention is that, this facility is being given under the Cash Credit Crop Loan Scheme.
Union Bank’s Tweet
In this regard, Union Bank has given information by tweeting. The bank has tweeted that farmers are being given the facility of green card for working capital.
Who Can Take the Loan?
-
All farmers can avail this loan facility.
-
The farmer should not be a defaulter.
-
Apart from this, anyone can progressive, read, written, illiterate, owner, tenant, all can get this loan.
-
You can also take advantage of this facility for gold jewellery, NSC, FDR and KVP, etc.
How much Loan?
This facility can be availed for investment credit, small irrigation, agricultural machinery, etc. for traditional and good yielding crops.
-
Loan up to 20 thousand rupees for 1 acre
-
Loan up to 75 thousand rupees for 1 to 3 acres of land
-
Loan up to 2 lakh rupees for 3 to 6 acres
-
Loan up to 3 lakh rupees for 6 to 8 acres
-
Loan ranging from 3 lakh rupees to 5 lakh rupees for more than 8 acres of land
For more Information
Visit https://unionbankofindia.co.in/english/rabd-short-products-service.aspx
For more updates like this, stay connected and keep visiting…!!
