Job Description

Field Officer (FOS) roles in agricultural Term Loans (TL) and collection involve specialized, grassroots-level management of farm credit. These officers typically focus on financing equipment, land development, and long-term investments, with repayment structures closely aligned with crop cycles. 

Key Aspects of FOS for Agriculture Term Loans & Collection:

• Loan Purpose & Eligibility: FOS assists farmers in obtaining term loans for buying tractors, harvesters, irrigation equipment, and constructing storage structures. Loans are often up to 50 lakhs, with specialized, shorter-tenure options for implements.
• Security and Margin: For many term loans, the primary security is the hypothecation of assets created (e.g., the tractor). Collateral, such as a mortgage of land, is generally required for loans above ₹1 lakh or ₹2 lakhs depending on the lender.
• Repayment Scheduling: Repayments are structured as 60 to 84 equated instalments, often aligned with the harvest and sale of crops to match the farmer's cash flow.
• Field Collection Procedures: FOS act as agents for collection. Per, field officers or branch managers can collect cash from borrowers, typically up to ₹20,000 per visit, with a ₹1 lakh insurance cover for such collections.
• Inspection: FOS conduct inspections to verify the end-use of funds. For term loans, this can be up to 4 times a year, or up to 12 times a year for higher limits, to ensure proper asset utilization.