Product Introduction:

IFIC Aamar Subornogram offers with collateral loan facility for Agriculture Loan.

Financing involved in cultivation of Grain & Crop, Fisheries, livestock, Purchase of agriculture & irrigation machineries, Seed Production, Grain Warehouse & Marketing and Rural Financing including poverty alleviation & income generating activity will be considered as agriculture loan for IFIC Aamar Subrnogram.

Re-finance and Interest Subsidy facility available upon eligibility and availability.

Highlights:

• Strengthening agriculture sector by providing financial assistance

• Increased agricultural productivity and income for marginal farmers.

• Promotion of sustainable farming practices.
• Empowerment of farmers through access to finance and new technology.
• Reduction in rural poverty and improved livelihoods in farming communities.
• Contributing to overall economic growth and food Safety

 

Loan Segment:

• Grain & Crop
• Livestock
• Fisheries
• Agriculture equipment/Machineries
• Seed Production
• Grain Warehouse & Marketing
• Rural Financing - Poverty alleviation & Income Generating Activity
• 0thers (Cultivation of Grain & Crop not mentioned in list and any other Agriculture related activity

Customer Segment:

• Individual Person or Farm / Enterprises involved in different segment of Agriculture activities.

Customer Type:

• Individual
• Farm / Enterprises/ Industry

Purpose:

• To meet financial requirements for cultivation of Grain and Crops, Livestock, Fisheries, purchasing, Agriculture, Equipment/Machineries, Seed Production, Grain Warehouse & Marketing, Rural Financiaing- Poverty Alleviation & Income Generating Activity and any other Agriculture related activity.

Nature of Loan:

• Term Loan
• Overdraft (For Working Capital)
• Demand Loan (Revolving/One off)

Eligibility:

• Any individual/Farmer/Farm/Enterprise/Industry involved on different segment of any agricultural activities.
• Having minimum 2 years experience in the segment of Agriculture activity.
• Must be a permanent resident in area of agriculture activity at least 1 Year.

 

Age:

• Minimum: 18 Years
• Maximum: 65 Years

Loan Amount:

• Minimum: Above BDT 5 Lakh
• Maximum: 70% Collateral Security. In case Financial Instrument 90% of the Financial Instrument

 

Loan Tenor:

• 1 to 5 Years

Loan Repayment Method:

• Term Loan: By equal monthly installments
• Overdraft: Lump sum with interest within maturity
• Demand Loan (One off/Revolving): At one go with interest at maturity or in Lump sum within expiry of loan.

Eligible collateral:

• Land, Registered or under constructed Flat or Building, Financial Instrument

 

Interest Rate:

 

• Please contact us for query (16255)/ 09666716255 or visit any Branch/Uposhakha of IFIC Bank PLC.

 

Required Documents:

General Documents:

• 2 (Two) copies passport size attested photograph of borrower/ Partners/ Directors as well as guarantor(s).
• Copy of NID of both borrower & guarantor (Where applicable)

Note: In case of unavailability of NID of borrower:

Copy of Passport/Birth Certificate with additional photo ID/Driving license (Verified by original copy) may be obtained instead of NID.

• Valid Trade License for Enterprise/Industry (if any)
• Net Worth Statement of the borrower & guarantor.
• Bank statement for last 12(twelve) months (if available).
• Up to date clean CIB report
• Proof of Permanent Residency (Holding Tax, Rent Paid Receipt, Utility bill copy, NID, TIN or other ancillaries)
• Updated tenancy/rental deed if the borrowing concern/its godown situated at rented premises (if any)
• Periodical Stock Report (if any)
• Enterprise/Company documents:

For proprietorship:

• No additional documents required.

For Partnership Firm:

• Registered Partnership Deed (with RJSC/RJSF) along with certificate of partnership Firm
• Up to date list of partners

For Private limited Company:

• Memorandum and articles of association (Certified by RJSC) with certificate of incorporation.
• Certified copy of up-to-date list [personal profile of directors (Form XII & Schedule X)
• Board resolution to borrow fund including completion of documentation formalities in accordance with Memorandum & Articles of Association.
• Letter of Guarantee of the Directors
• Undertaking stating that the borrower shall not make any amendment or alteration in memorandum and Article of Association without prior approval of Bank.
• Approval of the Bank for any inclusion or exclusion of the Directors in and from the Company.