Are you an experienced fisherman with dreams of expanding your fish farming operation? Uttar Bihar Gramin Bank brings you the Fishery Credit Card, a versatile tool designed to provide the working capital you need to thrive in the fishery industry. Let’s take a closer look:
Table of Contents
Loan Purpose/Objective
The Fishery Credit Card is your key to securing the working capital necessary for successful fish farming.
Eligibility
To qualify for this scheme, you must meet the following criteria:
- You should be an experienced fisherman.
- You must own a pond in your name or possess certified patta.
- You should be a permanent resident within our service area.
- Individuals with KCC, GCC, or SCC from our branch are not eligible.
- The beneficiary’s age should be a minimum of 18 years and a maximum of 60 years.
- You should not have a history of defaulting on loans from any bank or financial institution.
Loan Amount
Under this scheme, you can access a loan of Rs. 25,000 per acre, with a maximum cap of Rs. 25,000.
Validity of Card
The Fishery Credit Card is valid for 5 years, subject to renewal annually or within the lease period of the pond, whichever is shorter.
Margin
No margin requirement is applicable.
Interest Rate
The interest rate is set at 11.50% (subject to change) and is applied half-yearly.
Security
- Primary Security: Hypothecation of property purchased using the bank loan.
- Collateral Security: Not mandatory.
Disbursement
Loan disbursement is need-based, ensuring you get the capital you need when you need it.
Repayment
Repayment should be completed within 12 months or upon harvesting and marketing, whichever comes earlier.
Insurance
Mandatory insurance is required to safeguard your fishery venture.
KYC
Completion of Know Your Customer (KYC) requirements is mandatory.
With Uttar Bihar Gramin Bank’s Fishery Loan, you gain access to essential working capital to expand your fish farming operations. Our casual and customer-friendly approach ensures that you can discuss your unique requirements with us, and we’ll tailor a solution that best fits your needs.
Don’t miss this opportunity to dive into prosperity in the fishery industry. Reach out to Uttar Bihar Gramin Bank today and set sail toward a brighter future for your fish farming venture.