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Zarai Taraqiati Bank Limited (ZTBL) erstwhile Agricultural Development Bank of Pakistan (ADBP) is the premier financial institution geared towards the development of agriculture sector through provision of financial services and technical know how.
Zarai Taraqiati Bank Limited (ZTBL) erstwhile Agricultural Development Bank of Pakistan (ADBP) is the premier financial institution geared towards the development of agriculture sector through provision of financial services and technical know how.
In order to meet the demands/needs of farmers and agri-entrepreneurs, ZTBL strives to take initiatives in introducing innovative development/production schemes to help small farmers overcome their financial needs and earn a decent living for their families, food security issues and poverty alleviation among rural population.
Our deposit products range from Current/ Savings account, term deposits to meet your daily banking needs through our vast branch network spread across the country.
The premier financial institution geared towards the development of agriculture sector through provision of financial services and technical know-how.
Our wide Branch network of 501 Branches ( Conventional & Islamic) to meet your Banking needs within your vicinity.
The tractor is a farm vehicle. Tractors have traditionally been used on farms to mechanize several agricultural tasks. Agriculture implements are to be mounted on the tractor and it may also provide a source of power if the implement is mechanized. A farm tractor is used for pulling and pushing agriculture machinery. It is used for plowing, tilling, disking, harrowing, landscape maintenance, moving or spreading fertilizer, clearing bushes, and planting fields.
Keeping in view the above benefits, Bank is providing credit facilities to farmers for the purchase of tractors.
Terms & Conditions:
| Operational Jurisdiction | All branches of ZTBL. |
| Eligibility Criteria | Farmers having appropriate self-owned & self-possessed agri. land to cover the feasibility of a tractor loan is entitled to avail the facility of loan for the purchase of new tractors and vehicles for the transport of agricultural produce from farm to market etc. |
| Documents Required | CNIC Copy, Loan Case File embedded in the system, Agri. Pass Book/Fard Jamabandi & 2 recent photographs, |
| Maximum Loan Limit | Rs. 2.500 million per borrower/party. |
| Collateral | The borrowers will provide security/collateral for the loan as per Bank’s policy. |
| Disbursement of Loan | The loan for a farm transport vehicle is disbursed by issuing a pay order/demand draft in favor of the manufacturer/dealer from whom the borrower has obtained a quotation. |
| Registration of Tractor | The tractor will be jointly registered in the names of the Bank & the borrower and will be comprehensively insured by an “A” rated insurance company. |
| Equity Contribution | 10% of the loan amount will be deposited by the borrower as self-contribution which will be adjusted towards the tractor price. |
| Cost of Credit | As per Bank’s Rules. |
| Sanction of Loan | Loans under the scheme will be sanctioned by Central Loan Sanctioning Department (CLSD) up to Rs. 2.500 million and over & above by Head Office Credit Committee. |
| Repayment Schedule | The loan will be recovered within 08 years in half-yearly installments commencing six months after 1st disbursement of the loan. |
| Rate of Mark Up | The prevailing Bank rate of markup on development loans with a 3% rebate on timely repayment is applicable. |
| Insurance | Premium on tractor loan will be charged @ 1% (inclusive of all taxes and levies) of every tractor loan in an individual case. |
| Utilization/Monitoring | Strict monitoring would be exercised by ensuring checking of utilization by the MCO in 100% of cases and sample checking of utilization by the Manager, Zonal Manager (Recovery), and Internal Auditor of the Bank. In case of mis-utilization, the loan be recalled in lump sum as per Bank policy. |
