Agriculture Loan

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  1. Product Description

SMC “Agriculture loan” provides to strengthen the economic base of the low-income farmers, through their increased access to easy and cost-effective financial services.

  1. Eligibility Criteria

a) Household annual income less than Rs. 500,000

b) Age between 18-58 years

c) Holding valid CNIC

d) Land cultivation 2-12 acre

e) Cultivation experience of minimum of 3 years

f) Permanent resident of the local area

g) Positive credit worthiness as per “SMC” criteria

  1.  Purpose of Loan

To purchase input supplies i.e. seeds, fertilizer, pesticides and diesel etc for Cotton, Sugarcane and Wheat crop.

  1. Lending Methodology

Group Lending and group will be comprised between 3-6 members

  1. Guarantee

Social Collateral/ post dated cheques

  1. Loan Period

4-6 Month (Crop to Crop)

  1. Loan Repayments

Lump sum Installment on crop harvest

  1.  Loan Amount

a) Minimum PKR. 25,000
b) Maximum PKR. 50,000

  1. Loan Insurance

Loan Insurance in Case of Death only and remaining Loan will be claimed