This product aims to bring those deprived from formal banking sector due to traditional banking approaches within the reach of our bank. In the absence of reach to the formal banking channel, those involved in agriculture have to pay higher cost to meet their financial requirements; this product provides an opportunity to be directly involved in the benefit of the farmers for their economic upliftment. At the same time, the proposed modus operandi also helps reduce the dependency of farmers with the middlemen, thereby making it more profitable to the farmers/those involved directly in agriculture. “Citizens One Zone One Product” have 14 different products, which are designed in such a way, that the product promotes use of local resources, local skill and local people’s involvement to carry out the business.
||To meet financial requirement of the people involved in agriculture and/or agricultural business.
||Term Loan / Overdraft Loan
||Up to 2,500,000.00
||Repayment period maximum of 10 years payable in Equated Monthly Installment.
||1 year revolving facility.
||Up to 60% of the Derived Value# of the collateral security.
*Freehold agriculture land is also acceptable. #Derived Value will be the minimum of: 5 times the government value for properties located at VDC / 3 times the government value for properties located in municipalities and/or 60% of the Market Value ascertained by the Bank and/or Fair Market Value provided by an authorized valuator of the bank.