In order to provide Credit Assistance for Dairy, Poultry, Sheep & Goat Farming in the rural areas of the State of Azad Jammu & Kashmir, a Memorandum of Understanding between Zarai Taraqiati Bank Limited and Azad Kashmir Small Industries Corporation has been signed. The following are the salient features of the scheme.
| Operational Jurisdiction: |
The scheme shall be implemented in the entire area of Azad Jammu & Kashmir through network of ZTBL branches & Azad Kashmir Small Industries Corporation. |
| Selection of Borrowers: |
The borrowers will be selected by AJ&K Small Industries Corporation. The loan to the selected borrowers shall be provided by ZTBL as per prescribed procedure. |
| Equity Contribution: |
10% of the Project Cost |
| Mark up Rate: |
One year Kibor
plus 2% margin- (presently it is 14.3% p.a with
1% rebate on timely repayment. |
| Incentives: |
All the applicable mark up on the loan installments under the scheme will be paid to ZTBL by AJ&K Small Industries Corporation. |
| Collateral: |
Tangible Properties |
| Maximum Credit Limit: |
Rs.1.000 Million per borrower/party |
| Repayment/Recovery Period: |
- Poultry Farming – Within 5 years in half yearly installments commencing one year after 1st disbursement of loan.
- For Dairy/Livestock Farming – Within 5 years in half yearly installments commencing six months after 1st disbursement of loan.
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| Documents Required: |
CNIC Photocopy, Loan Case File, Agri. Pass Book & 2 recent photographs of borrower |
| Cost of Credit: |
- Loan Case File Rs.200/-
- Postal Charge Rs.1000/- for the Development Loans with 5 year tenure.
- Appraisal Fee (LA fee @ 1% upto loan of
Rs.50,000/- & 2% above Rs.50,000/- to
1.000 Million)
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