DCB Bank Introduces Innovative Schemes For Farmers and Small Traders

In response to the challenges faced by the agricultural community and small traders since the outbreak of Covid-19, DCB Bank has developed customized banking solutions for farmers, small business owners and individuals in Andhra Pradesh to assist them tide over the crisis. 

DCB Bank provides a number of product offerings for farmers to ensure timely and adequate credit to finish agricultural activities and to perform day-to-day banking transactions with ease. 

DCB spokesperson stated in a statement on Tuesday that they were offering advances for tractor purchases, agricultural loans and gold loans. "DCB gold loan is available against gold ornaments and this loan may also be utilized for agricultural purposes.  The DCB gold loan has a competitive interest rate and is processed quickly at the branch," the bank added. 

The bank is offering an overdraft limit in exchange for the pledge of gold ornaments. Surprisingly, interest must only be paid on the fraction of the loan amount facility that has been used. The bank has also provided consumers with numerous repayment alternatives and facilitated online loan repayment. 

According to the bank, the DCB Bank is involved in the business correspondence (BC) arena, where loans are provided to farmer self-help groups/ Joint Liability Groups (JLGs) for agricultural and/or agri-allied operations. 

Farmers can also use the bank's real-time or instant banking services. These services make use of cutting-edge technology to provide financial services that are rapid, safe, and immediate. The focus as is evident is to provide convenience to the customer at each touch point – from flexible repayment options to the availability of online payments such as the famous UPI or any online payment gateway facility and the opportunity to repay the DCB gold loan at their convenience. 

DCB Bank Limited is an Indian private sector scheduled commercial bank. It is one of the new generation banks to acquire a scheduled commercial bank licence from the Reserve Bank of India. DCB Bank acquired its licence on May 31, 1995.