Agri Plus Loan

Purpose of Product

Agri Plus Loan is being launched to cater the financing needs of the following segments of the society:
Agriculture & Livestock farmers, who are engaged in Agri Farming / cultivation of Crops and/or engaged in raising, breeding and fattening of animals at small or microenterprise scale.

Eligibility Criteria

Aged between 20-63 Years (Maximum age should not exceed 64 Years & 8 Months at the time of maturity of loan) must have minimum 2 years relevant experience.

Loan Amount

General Category Loan: PKR 50,000 to PKR 350,000/-
Microenterprise Category Loan: PKR 350,001 to PKR 3,000,000/-

Agriculture and Livestock formers and horticulturists aged between 20-63 Years (Maximum age should not exceed 64 Years & 8 Months at the time of maturity of loan) must have minimum 2 years relevant experience.

For Agri Production / Input
For Development / Asset Purchase Needs I.e. Development of Solar Tube Wells, Construction Sheds, Storage Places or Warehouses and non-farm activities, etc.
Raising, Breeding, Rearing and Fattening of Animals (Local/Imported Cows, Buffalos, Bulls, Sheep and Goat Only)
Fisheries and Poultry

For Loans below/equal to Rs. 350,000/- i.e. General Loans

Annual Income (Net of Business Expenses) should not exceed Rs. 1,200,000/-

For Loans above Rs. 350,000/- i.e. Microenterprise Loans

No Maximum income limit

General Category Loan:

PKR 50,000 – PKR 350,000/- (with Initial Maximum of Rs. 100,000/-)

Microenterprise Category Loan:

PKR 350,001 – PKR 3,000,000/-

12 Months – 36 Months

Markup: Monthly, Quarterly or Half Yearly
Principal: at Maturity of loan/With last installment

Guarantor is Mandatory for General Loan Category with following minimum requirements:

Engaged in Business / Income Generating Activity / Salaried Person
Having verifiable annual income similar, (if not higher) than the Borrower
Age: 22-60 Years
Not a defaulter of any financial institution
Should not be family member of Borrower (to be verified from Family number printed on back of CNIC or through physical verification of RM/VO)

PG – No Margin Requirement (Amount to be mentioned of DP Note)
Gold Backed Financing – As per current applicable circulars/Management decision regarding Margins requirement on Gold Backed financing.
Agri Passbook Loan - 80% of the PIU Value

For Loans below / equal to Rs. 350,000/-, DBR shall not exceed 40% of net take home income of Borrower.
For Loans above Rs. 350,000/-, DBR shall not exceed 50% of net take home income of Borrower

PG of Guarantor for Loans up to Rs. 350,000/-
For loans exceeding Rs. 350,000/-
- Gold or Gold Ornaments. Only net weight of gold contents will be considered for financing purpose
- Against Bank’s charge on Agri. Pass Book. Only PIU value will be considered for financing.