İş Bank Online Agricultural Credit
Agricultural loans
Description
İş Bank offers a specialized financial solution for farmers in the form of “Instant Agricultural Loans” specifically for agricultural inputs. The loans are available to all through the bank’s mobile app and online app, regardless of whether an applicant has a pre-existing commercial credit limit with the bank. Applicants can request instalment payments up to 50 000 TL (equivalent to approx. USD 1740), with a maximum maturity of 12 months. Applications can be submitted through İşCep or the Internet Branch and are evaluated in real-time. Upon approval, the loan amount is immediately credited to the applicant's demand deposit account. Farmers can apply for loans through the İşCep app, the Internet Branch or in person at İş Bank branches through the Imece Card and Agricultural Loan Application page. İş Bank reserves the right to change the loan conditions, including possible requests for collateral.
Technology
The website is accessible to any user from Türkiye who has an account with the bank. Applications can be made through the website’s İşCep portal, which is also available as a mobile app. Applicants should follow the menu path: İşCep > Loans > Apply for a Loan > Instant Agricultural Loan or Instant Agricultural Loan > Applications > Loans, or go to the Loan and Application page accessible via this link: www.anindaislem.isbank.com.tr/Home/Login. The user must then enter his/her İş Bank account number and mobile phone number, followed by the verification code sent to the mobile phone.
Target
The main users of the loan are smallholder farmers in Türkiye. Loan applications can be made online or in person, and the approval process may be completed within a day.
Business model
There is no fee charged for agricultural loan applications, although additional fees may apply, such as a 5 percent Bank and Insurance Transaction Tax (BITT) fee and a 15 percent KKDF (Kaynak Kullanımı Destekleme Fonu – Resource Utilization Support Fund). Interest rates may also vary depending on such factors as customer risk profile and loan details. For comprehensive information, İş Bank recommends contacting their branches. The repayment schedule is highly flexible, with options to make repayments every 1, 3, 6 or 9 months.
Impact
An instant online agricultural loan can help small-scale farmers invest in modern farming methods and diversify their crops with a view to increasing productivity and income.
Four Betters
Better life
