In order to achieve the aim of providing farm machinery and implements to encourage the mechanized farming for the enhancement of agriculture productivity as compared with traditional tillage system a Memorandum of Understanding between Zarai Taraqiati Bank Ltd. and Department of Agriculture. AJ&K has been signed under title of Green Tractor Scheme. The main features of this scheme are listed hereunder:-
| Operational Jurisdiction: |
Throughout AJ&K Area |
| Selection of Borrowers: |
Bank MCO Selects the Borrowers on the recommendation of Department of Agriculture, AJ&K |
| Delivery Channel : |
Branch/Department of Agriculture, AJ&K |
| Mark up Rate: |
One year
Kibor plus 2% margin- (presently it is 14.3% p.a
with 1% rebate on timely repayment. |
| Document Required : |
CNIC Photocopy, Loan Case File, Agri. Pass Book & 2 recent photographs of borrower |
| Collateral: |
Tangible Properties |
| Maximum Credit Limit: |
Rs.1.000 million per borrower/party |
| Incentive: |
AJ&K Government would reimburse the amount of mark up charged by the Bank on the basis of receipt issued by ZTBL provided the borrowers repay the loans on due date. |
| Repayment: |
The loan will be recoverable within 5 years in 10 equal installments commencing after six month of issuance of DD. |
| Cost of Credit: |
- Loan Case File Rs.200/-
- Postal Charge Rs.1000/- for the Development Loanswith 5 year tenure.
- Appraisal Fee (LA fee @ 1% upto loan of
Rs.50,000/- & 2% above Rs.50,000/- to
1.000 Million)
|
| Equity Contribution: |
10% of the price of agri. machinery |
| Lonable Items: |
Farm Machinery & Implements |
 |
|
|
External
Links | Disclaimer
© Zarai Taraqiati Bank Limited Pakistan, 2013, All rights reserved.
