| Approved Tractors |
Millat Tractors / Messay Ferguson
All Models
Al Ghazi Tractors
All Models |
| Tenure |
05 Years maximum |
| Eligibility Criteria |
- Minimum land ownership of 5 Acres (irrigated land)/ 10 Acres (Arid land)
- Age should be between 21- 65 ( Max. 65 years at maturity)
- Should not have write off history
|
| Markup Rate |
Fixed Rate: 6-Months KIBOR + 7%% p.a.Rate will remain fixed for whole tenure |
| Equity/LKM |
Land Holding (Acres)
| LKM |
| Irrigated land: 15 Acres OR Arid land: 30 Acres | 20% |
| Irrigated land: 10 Acres OR Arid land: 20 Acres | 25% |
| Irrigated land: 5 Acres OR Arid land: 10 Acres | 30% |
| Repayment |
10 installments(Biannually). 1st May & 1st November |
| Securities: |
- Registration of Tractor in the name of bank
- Bank’s charge on Agri land through Zari Passbook
|
| Processing Fee including FED (Non-refundable) |
Rs. 5,000 per tractor.( The bank will not charge for ECIBs, Nadra Verisys and cost of Charge documents) |
| Insurance & Tracker Cost |
Actual (to be paid by lessee) |
| Down Payment |
LKM + Processing fee+ insurance Premium of full tenor & tracker charges + Registration charges (At Actual) |
| Frequently Asked Questions (FAQs)? |
|