Agricultural Production Loans are disbursed to meet working capital requirements for planting, producing, harvesting, and marketing all crops, including vegetables, fruits, etc. This covers the full cost of inputs that will be incurred in acquiring seeds, pesticides, fertilizers, and other materials / service charges, etc. The installation would be allowed for a period of 03 years on a rotating basis as advised by SBP with annual review at the completion of one year of relationship
Soneri Bank Agriculture Financing Salient Features
1. Installation can be allowed for the purchase of new crushers, other Agri machines such as plow, etc.
2. For the purchase of new equipment for drip / drip / drip irrigation system
3. Installation of general / solar motors / wells / tubular wells, open wells, Persian wheels, lift pumps, turbines / deep pumps, electrical installation, including the cost of power lines and transformers.
4. Construction of cold rooms.
5. Construction / installation cost, etc. of structures involved in tunnel and greenhouse technology for the growth of horticultural products.
6. Improvement of the watercourse alignment, lining, sediment cleaning, construction of modules and sewers (where the Water Management Directorate is not functional) and construction of the Pacca watercourse.
7. The tenure of said financing must not exceed the useful life of the Machinery / Equipment / Project according to the Policy. It will vary from 3 to 7 years. The borrower must invest a minimum of 30% of the cost of the machinery, equipment / project as capital.
8. Any other items required for the development of the farm according to SBP’s list of eligible items.
Soneri Bank Agriculture Financing Documentation
1. Certified copy of valid CNIC
2. Two passport-size photographs of the applicant and co-applicant (if applicable)
3. Credit application form (application in Urdu / Sindhi / English according to the format prescribed by SBP)
4. Credit Proposal Form / Approval Sheet
5. BBFS (according to the format prescribed by SBP)
6. ECIB Latest Clean Report
7. Copy of book / property deeds / security documents / proof of cultivation
Soneri Bank Agriculture Financing Mark-Up
Agricultural financing is allowed @ 06 months KIBOR + 5.00% subject to change as advised by management from time to time and TPMR by clients. TPMR is the surcharge rate at which the bank wants to finance the client, where the timely payments / repayments of the principal and the surcharge are made according to the stipulated payment terms / schedule.
Soneri Bank Agriculture Financing Branches
The Sonehri Bank branches which offers the agriculture loan can be explore by clicking the link: https://www.soneribank.com/wp-content/uploads/2019/05/Agri-Designated-Branches-for-website.pdf
How to Apply For Soneri Bank Agriculture Financing?
Click on the link to apply for the Soneri Bank Loans: https://www.soneribank.com/contact-us/?product=Soneri%20Personal%20Finance
Soneri Bank Contact Information
Phone No: 021-111-SONERI (766-374)
Web Address: firstname.lastname@example.org