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Tractor Loans are provided by Mobilink Microfinance Bank Limited to individual farmers with a minimum holding of 3-acres of agricultural land and of age between 21 to 60 years, holder of a valid CNIC and a valid Agriculture Pass Book in the name of customer. Maximum amount of loan which can be disbursed under this facility is Rs. 3 million for a tenure of 1 to 10 years. Repayment schedule will be half yearly installments.
Zarai Taraqiati Bank Limited is providing credit facilities to farmers for tractor leasing. All farmers having appropriate self-owned agricultural land to cover the feasibility of tractor loan are entitled to avail this facility. Maximum loan amount of Rs. 2.5 million can be borrowed against this facility with a maximum repayment plan in 8 years. The Bank will charge the prevailing interest rate of mark up on development loans with 3% rebate on timely repayment is applicable.
Tractor Finance under Khushali Plan is offered by MCB Bank to farmers for purchase of tractor and allied equipment. It is fixed installments product under which a loan can be booked for a period of maximum 7 years.
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