Tractor Loan

Product Description

Tailored for individual farmers, both men and women, with a minimum landholding of 3 acres, or transportation business personnel. Access financing for the purchase of tractors or agricultural machinery, empowering farmers and transportation professionals to enhance productivity and efficiency in their operations

Vehicle Value(PKR)

500,000

PKR

50,000

Years

5

Years

1

Down Payment

30

Percentage

0

Your Half Yearly Payments

PKR

13,340

Insurance Rate

1.4%

Markup Rate

28%

Your HALF YEARLY 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

PKR 15,000

Total

PKR 16730

Loan Amount

Up to PKR- 3,000,000

PKR- 3,000,001/- to 5,000,000/-

Loan Tenure

Upto 10 Years

Basic Documentations

Valid Computerized National Identity Card (CNIC/SNIC)

Age: 18-64 years (Age at Maturity of Loan should not exceed 72 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
Individuals occupied in transportation business with 2 years’ experience.

Minimum amount Rs. 3,000,001/-
Minimum 50% of selected tractor price up to Rs. 5,000,000/-
The value of used tractor will be 80% of the price assessed by PBA evaluator.
Agri Machinery/Agri Tools up to Rs. 5,000,000/-
Tractor price eligibility is based on 70% of the lower value between DC rate or market rate of agricultural land.
Down Payment 10%-50%

Upto 10 Years

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)