Tractor Loans are provided by Mobilink Microfinance Bank Limited to individual farmers with a minimum holding of 3-acres of agricultural land and of age between 21 to 60 years, holder of a valid CNIC and a valid Agriculture Pass Book in the name of customer. Maximum amount of loan which can be disbursed under this facility is Rs. 3 million for a tenure of 1 to 10 years. Repayment schedule will be half yearly installments.
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.
Meezan Tractor Assaan is a shariah-compliant product offered by Meezan Bank to farmers for acquiring Tractors for mechanized farming. Financing Tenure is from 3 to 5 years. Repayment frequency can be either monthly, quarterly or half yearly. This facility is offered for individual farmers and for corporate farming requirements. The borrower must be a resident farmer in Pakistan and holder of a valid CNIC and a minimum of 10-acres of self cultivated land.
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