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Product Description

This product is offered to Individual farmers (men or women) with minimum land holding of 3 acres or transportation business personnel for purchase of Tractor /Agricultural Machinery)

PKR
500,000
PKR
50,000
Years
5
Years
1
Down Payment
30
Percentage
0
Your Monthly Payments
PKR
13,340
Insurance Rate
1.40%
Markup Rate
35.07%
Your MONTHLY PAYMENT WILL BE JUST
PKR 13669
NUMBER OF PAYMENTS
240
TOTAL INTEREST
PKR 152000
TOTAL COST OF LOAN
PKR 48000

Advance Payments

Down Payment
PKR 16730
First Year Insurance *
PKR 1730
Processing fee would be 2% of loan amount
PKR 15000
Total
PKR 16730

Loan Amount

Minimum 50% of Tractor Price and Maximum Rs. 3 Million

Loan Tenure

01 to 10 years (EMI / Quarterly / Half Yearly Repayments)

Basic Documentations

Valid Computerized National Identity Card (CNIC/SNIC)

  • Age between 21-60 years
  • Business experience of minimum of 2 Years required
  • Holding valid CNIC/SNIC
  • Not defaulter of any financial institutions & Public Utilities.
  • Residing or working in launching cities for at least 1 year in case of owned residence or Min. 02 years

  • Minimum 50% of Tractor Price and Maximum Rs. 3 Million
  • Down Payment 10%-50%

01 to 10 years (EMI / Quarterly / Half Yearly Repayments)

  • Valid Computerized National Identity Card (CNIC/SNIC)
  • 1 recent passport size photographs of the Customer
  • Valid Agriculture Pass Book in the name of customer,
  • Land ownership proof (Fard Malkiyat),
  • Land self-cultivation proof (Khasra Gardawari,)
  • Land schedule rates duly attested by revenue authority
  • Genuineness certificate of agri. pass issued by ADLR/ Tehsildar
  • 2 references
  • Quotation of make or Rate List of tractors
  • Proof of Business/Undertaking for running business
  • A copy of latest paid utility bill of business place or residence (if available)

  • Against Bank’s charge on Agri Pass Book.
  • Joint registration of tractor with MMBL under HPA

As per SOC

*Terms & conditions applicable.

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