Ujjivan Small Finance Bank Launches Kisan Pragati Card for Farmers

Ujjivan Small Finance Bank introduces Kisan Pragati Card (KPC) to assist farmers to meet their credit requirements. The card has been launched with a specific focus on small and marginal farmers to finance the array of their needs like crop production, pre & post-harvest requirements, working capital for maintenance of farm assets and plain consumption expenses. The facility will also offer coverage of the Personal Accident Insurance Scheme (PAIS).

KPC offers a credit limit of up to Rs 10 lakhs for 5 years with a yearly renewal option. KPC also offers a term loan up to Rs 10 lakhs with a tenure ranging between 1 and 5 years. Loans up to Rs 3 lakhs will have zero processing fees. Under the loan options, Ujjivan SFB offers Kisan Unnati Emergency Loyalty to meet the different financial requirements of farmers.

Commenting on the launch, Sanjay Kao, Chief Business Officer, Ujjivan Small Finance Bank said, “Cyclical nature of agriculture, where still a majority of the population’s livelihood is dependent, makes accessibility of credit very crucial. Despite this, farmers, especially small and marginal ones are deprived of institutional credit. They, in turn, are forced to go to local money lenders who charge exorbitant interest rates. Ujjivan SFB through this Kisan Pragati Card offers Kisan credit card and term loans at attractive interest rates to farmers enabling them to meet the credit needs for crop cultivation and allied activities.”

Ujjivan SFB understands the intricacies of the Indian agri-business sector and through this innovative credit delivery mechanism, it caters to the credit needs of farmers. KPC is offered at a competitive turnaround time and the bank will dedicate a frontline staff to facilitate doorstep delivery of the card bringing simplified documentation and hassle-free repayment with no hidden charges.