In order to provide credit assistance for establishment of around 300 dairy units in the rural areas of Azad Jammu & Kashmir (AJ&K), ZTBL has introduced the captioned scheme for small farmers of AJ&K Mark-up on loan given by the Bank to borrowers will be borne by Livestock and Dairy Development Department, AJ&K.
The key objective of the scheme/Project is to enhance the productivity of existing livestock resource in private sector as well as development of new technology and improvement of livestock infrastructure in AJ&K.
Terms & Conditions
| Operational Jurisdiction: | Scheme will be operative in the entire area of Azad Jammu & Kashmir through network of ZTBL Muzaffarabad Zone and Livestock & Dairy Development Department, AJ&K. |
| Eligibility Criteria | Borrowers recommended by Livestock & Dairy Development Department, AJ&K would be eligible for availing loan facility under the scheme. |
| Documents Required | CNIC Copy, Loan Case File, Agri.Pass Book/Fard Jamabandi & 2 recent photographs |
| Maximum Loan Limit | Maximum Loan upto Rs.10,00,000/- for 5 milch animals @ Rs.200,000/- per milch animal would be provided by the Bank to the borrowers registered with the Department. |
| Collateral | The borrowers will provide security/collateral of the loan as per Bank’s policy. |
| Tenure | The scheme will remain applicable / effective for 5 years (60 months) from the date of agreement to the completion of the scheme/project and will be extended with mutual consent. |
| Cost of Credit | As per Bank’s Rules |
| Sanction of Loan | The loan would be sanctioned by the Branch Manager/Chief Manager up to Rs.1.000 million under this specific scheme. |
| Repayment Schedule | Loan will be recovered within 05 years in quarterly installments commencing six months after 1st disbursement of loan. |
| Rate of Mark Up: | Mark-up of loans under the scheme will be charged by ZTBL @ 16.80% p.a. payable by Livestock and Dairy Development Department, Azad Govt. of AJ&K, in case of delayed payment of principal amount by the borrower, the borrower himself/herself will be responsible to pay the additional amount of the mark-up for delayed period and any charges levied by the Bank. |
| Insurance | All animals reared in dairy units will be insured. Insurance cost/premium will be paid by the Bank under its Dairy/Livestock Insurance Scheme. |
| Monitoring: | The said project/scheme will jointly be monitored by the Bank and Livestock and Dairy Development Department, AJ&K. |
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