Financing Product for Transport (Three Wheeler Loader Rickshaw)

In order to facilitate the farmers in transporting their produce from farm to market and input needs from market to farm in addition to improve their savings, ZTBL has decided to introduce the subject product for the benefit of the farming community.

Terms & Conditions

Operational Jurisdiction

The Scheme will be applicable in following Zones (i.e. Jhang, Gujranwala, Peshawar, Mirpurkhas, D.M Jamali) of ZTBL as Pilot Project: –

Eligibility Criteria

i)      All new as well as old creditworthy farmers, are eligible to get financing under the scheme, however preference will be given to those farmers who are already engaged in this business/activity.
ii)    Clear e-CIB Report from SBP
iii)   Obligor’s Risk Rating (ORR) upto 4

Documents Required

CNIC Copy, Loan Application, Agri.Pass Book/Fard Jamabandi, 2 recent photographs.

Maximum Loan Limit

Upto Rs. 0.500 million per borrower/party.

Borrower’s Contribution

10% of the cost of Loader Rickshaw will be deposited by the borrower as self-contribution/equity.

Collateral

Tangible properties owned by the borrowers as per policy of the Bank.

Cost of Credit

As per Bank’s Rules.

 

Rate of Mark Up

The prevailing rate of mark up on development loans is applicable.

Sanction of Loan

Loan would be sanctioned by the Central Loan Sanctioning Department (CLSD) upto Rs. 0.500 million with maximum Turn Around Time of 3 days.

Disbursement of Loan

The loan for farm transport vehicle is disbursed by issuing a pay order/demand draft in favour of the manufacturer/dealer.

 

Registration & Insurance

Three Wheeler Loader Rickshaw will be jointly registered on the names of the Bank & the borrower and will be comprehensively insured from “A” rated insurance company.

 

Repayment Schedule

Loan will be recovered within 05 years in half yearly installments with grace period of six months.

Monitoring/Utilization

Strict monitoring would be exercised by ensuring checking of utilization by the Bank Authorities.



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