Standard Priority Crops

Product Name: CROPS ON SUBSIDIZED INTEREST RATE (4%) (Code- LA2).

Purpose of Loan: Financing the Farmers for timely cultivation of pulses, oilseeds, spices, maize etc. to reduce importing of those.

Loan Limit without collateral security: Maximum 5.00 Lac

Loan Limit with collateral security: As per production cost.

Loan Limit per acre : As per Bangladesh Bank Policy Guide Line.

Tenure: As per crops production calendar & loan repayment index of Bangladesh Bank Agricultural & Rural Credit Policy & Programme.

Rate of Interest: 4% (6% compensation from Bangladesh Bank)

Service charges/ Fees for the facility: N/A

 

Security :

i. DP Note

ii. Letter of hypothecation & mortgage of crops.

iii. Guarantee bond of the spouse of the borrower & other acceptable third party.

iv. Post dated cheque.

v. Other usual Charge documents.

 

Documentation :

i. Party application

ii. National ID

iii. Passport size color photograph.

iv. Farmer’s card/ UP Chairman certificate favoring farmer.

v. Guarantor’s information & their consent.

vi. Production plan duly sign by the Upazila Agriculture Officer.

vii. Credit report/Confidential Opinion from Local Lead Bank.

viii.CIB Report for Limit above Tk.1.50 Lac.

ix. Documents related to collateral security (If applicable)

x. Others related documents.