IFIC Bank offers Shech Saronjam Rin to individual /Group at micro level for purchasing of irrigation machinery like Shallow tube well, Deep tube well, Motor pump, Generator etc.

Eligibility

• Any individual /Group (minimum 02 member maximum 10) aged above 18 years and below 60 years at the time of sanction of loan.
• At least 3 years involved in agro-based production.
• Having homestead and permanently living in the area.

Loan Size

• Minimum Tk.20,000/-
• Maximum Tk.1,000,000/-

Loan Period

• Minimum 12 (Twelve) months.
• Maximum 36 (Thirty Six ) months upto Tk.3.00 lac
• Maximum 60 (Sixty) months (More than Tk.3.00 lac)

Grace Period

• 06 (six) months grace period.

Nature of the Loan

• Term Loan

Repayment

• Equal Monthly Installment.

Collateral Security

• Collateral not required for loan upto Tk. 100,000/-

Quick Processing & least formalities