Union Bank of India has some good news for farmers: they provide easy loans without lengthy processes. A unique option offered by the bank allows you to get around Rs. 1.6 lakh.
The government has introduced Digital Kisan Credit Cards, which are explicitly designed for farmers and allow them to access loans easily.
Union Bank, in partnership with the Reserve Bank of India Innovation Hub, has made it possible for every farmer to obtain a loan of up to Rs. 1.6 lakh from the comfort of their own home.
Applying for this loan is a straightforward process. Farmers can start by visiting the official Union Bank website at www.unionbankofindia.co.in and navigating to the ‘digital-kcc’ section.
If they don’t have a credit card, they can quickly obtain a Digital Kisan Card using Bank VYOM’s exclusive app without needing any physical documents or office visits. Land verification can also be done online, making the entire process hassle-free.
The loan decision process is designed to be efficient and transparent. It involves verification through satellite imagery, mapping, and geo-tagging.
This method, which uses relevant data, is expected to expedite loan decisions and provide farmers with the financial support they need promptly.
After registering through the bank’s app, farmers can obtain the Kisan Credit Card. Upon visiting the bank’s website, they can find the digital KCC application option.
Once they click on this and proceed with the self-service option, they can apply for a loan of up to Rs. 1.6 lakh directly, without any additional processes.