A complete guide for Zarai Taraqiati Bank Limited ZTBL Tractor Loan Scheme 2019. ZTBL Tractor Loan is continued since long time in Pakistan. ZTBL tractor financing helped farmers to get their own tractor against pledging agriculture land. Tractor loan from ZTBL consists on a complete file of procedure. 10 years ago Zarai Bank financed a handsome number of tractors in Pakistan by tractor loan subsidy.
From Last 5 years, ZTBL tractor loan scheme has reduced the number of tractors financing. The reason behind this is buying the power of farmer or customer has increased. So cash business boosted in tractor industry. Commercial Banks like HBL, Bank AL Habib, JS Bank, BOP, NBP are also financing tractors loan. In ZTBL agriculture loan, ZTBL Tractor Loan Scheme is always preferred because every farmer used to get a tractor from it.
If you want to know how to get tractor loan in Pakistan carefully read the instructions given below. Zarai Taraqiati Bank limited loan for tractors has some advantages on other commercial banks loaning. Currently ZTBL tractor loan scheme in Pakistan are Kissan Dost Scheme (KDS) and Sada Bahar Scheme (SBS). Zarai Taraqiati Bank Limited tractor scheme requirements and eligibility criteria is as follows.
ZTBL Tractor Loan Scheme Step by Step:
Requirements for ZTBL Tractor Loan Scheme :
- Borrower’s CNIC Copy
- Passport Size Photos 4 Nos.
- Agricultural land required minimum 5 Acres for small HP tractor
- Minimum 12 acres agricultural land required.
- Zarai Pass book
- Jama bandi, Khsra Gardawari
- Average crop yield (Aost Bay)
- CIB report, (no bank defaulter)
Terms & Conditions:
1. Tractor Loan Guarantee:
Registration of tractor will be joint on bank and customer name. Customer will have to transfer his agriculture land on bank’s name.
2. Mark up rate Percentage:
ZTBL tractor loaning markup rate is 14.80%
3. Maximum Loan amount:
Rupees 10 Lac (Rs. 1,00,0000/-)
4. Leasing Duration:
5 or 7 Years
5. Down Payment:
10% of total loaning amount
6. Loan application charges:
2% of total loan amount
7. Other charges:
Tractor registration, 1% Insurance fee and demand draft charges.
8. Installations Period:
Total 5 years duration and instalment every 6 months.
Stepwise Procedure to avail ZTBL Tractor Loan Scheme 2019:
- ZTBL Bank will open your account in respective branch
- Get quotation of required tractor model from dealer of tractor company (, Millat Tractors Massey Ferguson, Belarus/Russian Tractor, IMT)and come into branch
- Only locally made tractor are eligible for tractor loan
- Get Loan application file after approval of ZTBL branch manager
- Bank will start process of transferring your agri land on bank name
- After land pledging pay loan application fee, down payment and registration charges.
- After loan sanction bank will issue supply order of required tractor to respective company
- Tractor company will issue intimation letter mentioning tractor delivery date
- Now bank issues demand draft DD of tractor price to company for tractor delivery
- Company will deliver tractor on mention date in intimation letter
- Now pay delivery charges to company dealer and get your tractor way to home
- Happy getting tractor loan 🙂
Eligible Tractor Companies for tractor Loan:
NH 480 – NH Ghazi – NH 640 – Nh Dabung – NH 70-56
MF 240 – MF 350 – MF 260 – MF 360 – MF 375 – MF 385
510 – 510.2 – 80.1
IMT 549 – IMT 565 – IMT 577