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 | | Link To: Farm Mechanization |
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| Union White Card |
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| Features | | | | Forms & Documents | | | | FAQs | | |
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| UNION WHITE CARD |
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| Union White Card provides hassle-free credit to milch cattle owners/dairy operators. This loan is available to finance purchase of milch cattle and purchase of machines, utensils, construction of sheds (Term Loan ) and working capital limits for purchase of fodder, transportation of milk, veterinary needs, etc. |
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| Eligibility:- |
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| Agriculturists, landless laborers/share croppers/tenant croppers or any other applicant desirous to establish a dairy unit are eligible for this loan. Dairy owners can also avail finance against receivables from Milk unions/Co-operatives/Big Dairies on production of satisfactory proof. All existing and prospective dairy operators are eligible for Union White Card. |
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| Quantum of loan:- |
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| The quantum of loan is decided based on the needs. Maximum amount provided is up to Rs.5.00 lakh via Union White Card. If amount exceeds Rs.5.00 lakh, same will be sanctioned by Regional Head depending on merits. |
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| Security:- |
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| Loans up to Rs.1,00,000/- |
Hypothecation of milch cattle (duly insured).
Hypothecation of assets created out of bank finance.
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| Loans above Rs.1,00,000/- |
Hypothecation of milch cattle (duly insured)
Hypothecation of assets created out of bank finance.
Collateral security by way of mortgage of land/building and/or third party guarantee.
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| Rate of Interest And Processing charges:- |
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| Please contact the nearest Union Bank branch for details |
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| Repayment Period:- |
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- Term loan to be repaid in 5 to 7 years.
- Working capital limit to be reviewed every year.
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LIST OF DOCUMENTS
- Milch cattle to be duly insured with bank clause.
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- Veterinary certification of good health/fitness of milch animals should be taken before purchase of animal.
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- Milch cattle purchased should be of high yielding breed.
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- As far as possible purchase of milch animal should be from marketing federation.
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- Payment will be made directly to vendor of milch animal along with margin money.
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- Processing of credit needs of the dairy unit will be assessed as per usual procedure together with calculation of economics of business and surpluses derived for repayment of advance after sustenance of the family of the borrower.
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| 1. Are Co-operative societies eligible for the loan? |
| Agriculturists, landless labourers/share croppers/tenant croppers or any other applicant desirous to establish a dairy unit are eligible for the loan. |
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| 2. What is the maximum loan amount? |
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| The maximum loan amount is Rs. 5 lakh. |
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| 3. Will the beneficiary get an ordinary passbook or a special one? |
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| White Pass Books with printing in black will be given to Union White Card holders. |
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| Product Testimonial |
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| Quick Links |
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 | | Link To: Union Green Card |
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