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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.
The Bank of Punjab offers attractive tractor leasing scheme at a fixed rate of 6-Months KIBOR + 7% per annum. This scheme is eligible for all farmers having a minimum land ownership of 5-Acres of irrigated land or 10-Acres of arid land and age between 21 years to 65 years. All models of Millat Tractors, Messay Ferguson and Al Ghazi Tractors can be leased for a maximum duration of 5 years. Repayment against the lease would be made in 10 biannual installments.
Askari Kissan Tractor Finance is offered by Askari Bank to farmers at reduced interest rates. All resident farmers of Pakistan with a minimum holding of 10-acres of agricultural land and less than 60 years of age can apply for this fiance facility. The tenure of the loan would be for upto 5 years. The farmer’s life, as well as his tractor will be insured against contingencies, which will provide comfort and peace of mind.
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