Development Loans for Members
For Purchase of tractors, Etc. (Medium Term):
This was earlier granted on the funding of Federal
Bank for Cooperatives (under liquidation) and
thereafter from SBP funding. The salient features /
procedure of the finance are as under: -
For purchase of Agricultural Implements
(Tractor-Actual Price, Thrashers. 80000/-, Rotavetor,
Rs.70,000, Discherro,50000,Trolley, Rs.80000/-
Hydraulic Trolly, Rs.100000/-.), Meat & Milch
Cattle, Livestock and for installation of Tube
well/Turbine Rs. 275000/-(Barani)
Rs.100000(irrigated) .
Period of Finance upto 10 years repayable in
half yearly instalments with Mark-up @ 16%
p.a
Loaning provided to a Member through respective
affiliated registered Cooperative Society on
fixation of Special MCL for the purpose by
the Coop: Department duly approved by the Bank
Management as well as special MCL fixed by the
society itself for incurring outside liability upto
a maximum of Rs.5.00 lacs.
Borrowing member required to deposit margin money @
5% of the loan demand, with the Bank.
Loan advanced against Security of immovable property
/ agri. Land having value double the amount of loan
demand either through registered Mortgage Deed or
Aarh Rehan or Agri. Pass Book System under the Law
of Land.Minumum Security 40 Kanals
Complete Loan Documents with quotations, on the
choice of Borrower, to be provided with the Loan
Application duly recommended by the field staff of
the Coop: Department.
Sanction of loan upto Rs.5 lacs at District Level
and above Rs.5 lacs at Head Office after having CIB
Report from the SBP.
Loan cases to be processed and finalized within 10
days.
Delivery of Tractor through PCF and for implements,
etc., Issuance of Pay Order in favour of the
approved supplier.
Loan required to be got comprehensively insured from
any of the approved Insurance Company.
For
the convenience of small farmers a Booklet (in
“Urdu”) containing Procedure and relevant loan
documents available in all Branches.
MTF for
members of Cooperative Societies up tp Rs.20,00,000/-
@ Rs.5,00,000 per borrower under General Permission of
MCL of RCS for a period of 5 years repayable in
10 equal installments against 5 acre perborrower.
Development Loans for
non-member Agriculturists:
On the emphasis of Government of Punjab for liberal
financing towards agricultural sector, PPCBL
introduced this scheme for individuals (non-members).
The salient features are: -
Admissible to Individual farmer for purchase of Farm
Machinery, viz. Tractor, Tubewell, Thresher,
Trolley, etc. and Transport for carriage from farm
to market (agri. purpose).
Net
amount of finance upto Rs.4,00,000/-, @ 16%.
Equity participation – minimum 10%.
Period of Finance upto 5 years.
Repayable in monthly, quarterly or
half yearly instalments, as per choice of
borrower.
Security through Agricultural Pass Book system or
registered mortgage of immoveable property (rural or
urban). Minmum Security 40 Kanals
