Tractor Loan

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

26.13%

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

As per SOC

Total

PKR 16730

Loan Amount

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

Loan Tenure

01 to 10 years (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 (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)