INTRODUCTION
Spices/condiments are a daily need of households in Pakistan. There is a huge demand of different Masalajat like Chilli, Dhanya, Zeera etc for daily use. The subject scheme is developed to fulfill daily requirement of these Masalajat in ground form by providing grounding units to needy persons living near the market.
OBJECTIVE
The scheme would help the farmers to have easy access towards credit and to facilitate the farmers for enhancement of agri. productivity in the country.
Terms & Conditions
| Operational Jurisdiction | The scheme will be applicable across the country. |
| Eligibility |
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| Maximum Loan Limit | The maximum loan limit under the scheme would be upto Rs. 1.000 million per borrower/party. |
| Borrower’s Contribution | 10% of the loan amount will be deposited by the borrower as self-contribution or invested towards the project. |
| Collateral | The loan would be secured against all types of tangible securities acceptable to the Bank. In case of its non-availability, parent’s/family member’s security can be accepted as a co-applicant. |
| Cost of Credit | As per Bank’s rules. |
| Rate of Mark up | The prevailing rate of mark up on development loans would be applicable. However, 3% rebate would be allowed on timely repayment. |
| Sanction of Loan | Loan under the scheme would be sanctioned by Central Loan Sanctioning Department (CLSD). |
| Disbursement of Loan | After execution of legal documents loan would be disbursed through Supply Order in the name of the manufacturing Company. |
| Repayment Schedule | Loan would be recovered within 5 years in half yearly installments with grace period of six months. |
| Monitoring | Close monitoring would be carried out by the respective MCO & Branch Manager. |
