The Bank of Punjab introduced a new loan scheme for the farmers of Pakistan with reasonable interest rates and markup rates. BOP Tractor Loan Scheme 2024 is a very good step taken by the Bank to give Tractors on the lease who can’t pay a lump sum amount, now they buy tractors with easy equity(downpayment).
The tractor Loan Scheme in Pakistan requires some proof of documents from farmers to avail of this scheme with 5-year installments. so, all information regarding how to apply for this tractor loan scheme online, What is the interest rates, approved tractor models, Bop tractor loan scheme calculator, Repayment Metode, Security, Insurance and Tractor Cost, and down payment.
بینک آف پنجاب نے پاکستان کے کسانوں کے لیے مناسب شرح سود اور مارک اپ ریٹ کے ساتھ ایک نئی قرضہ سکیم متعارف کرائی۔ ٹریکٹر لون سکیم 2024 بینک کی طرف سے لیز پر ٹریکٹر دینے کے لیے اٹھایا گیا ایک بہت اچھا قدم ہے جو یکمشت رقم ادا نہیں کر سکتے، اب وہ آسانی سے ایکویٹی (کم ادائیگی) کے ساتھ ٹریکٹر خریدتے ہیں۔
BOP Tractor Loan Scheme 2024
Eligibility Criteria for BOP Tractor Loan Scheme 2024
- Farmers must have 5 Acres of irrigated land ownership or 10 Acres of Arid Land ownership.
- Applicant’s age must be between 21 to 65 years.
- The applicant should not have previously waived any loan
اہلیت کا معیار
- کسانوں کے پاس 5 ایکڑ سیراب زمین کی ملکیت یا 10 ایکڑ بنجر زمین کی ملکیت ہونی چاہیے۔
- درخواست گزار کی عمر 21 سے 65 سال کے درمیان ہونی چاہیے۔
- درخواست دینے والے نے پہلے کوئی قرضہ معاف نہ کرایا ہو
BOP Tractor Loan Scheme Markup Rate
If you are going to buy a tractor on lease from the Bank of Punjab then are to pay the following interest rates or Kibor Rates (Karachi inter-bank offered rate)
Fixed Rate: 6 Months Kibor + 7% p.a.Rate will remain fixed for the whole tenure of 5 years.
Tractor Loan Scheme Equity(Down Payment) Rates
- If you are holding 15 Acres of irrigated land or 30 Acres of arid land you are to pay a 20% mark rate or kibor rate.
- If you are holding 10 Acres of irrigated land or 20 Acres of arid land you are to pay a 25% interest rate or markup rate.
- If you are holding 05 Acres of irrigated land or 10 Acres of arid land you are to pay a 30% interest rate or markup rate.
- اگر آپ کے پاس 15 ایکڑ سیراب زمین یا 30 ایکڑ بنجر زمین ہے تو آپ کو 20 فیصد مارک ریٹ یا کبور ریٹ ادا کرنا ہوگا۔
- اگر آپ کے پاس 10 ایکڑ سیراب زمین یا 20 ایکڑ بنجر زمین ہے تو آپ کو 25% سود کی شرح یا مارک اپ کی شرح ادا کرنی ہوگی۔
- اگر آپ کے پاس 05 ایکڑ سیراب شدہ زمین یا 10 ایکڑ بنجر زمین ہے تو آپ کو 30% سود کی شرح یا مارک اپ کی شرح ادا کرنی ہوگی۔
Approved Models for BOP Tractor Loan Scheme
- Millat Tractors / Messay Ferguson: All Models
- Al-Ghazi Tractors: All Models
BOP Tractor Loan Scheme Repayment Method
10 installments(Biannually) 6 monthly . 1st May & 1st November
Read;
Online Urgent Loan in Pakistan 2024
NBP Loan Scheme for Government Employee
How To Apply for BOP Tractor Lease Scheme 2024
If you have read out all eligibility criteria for the BOP Tractor Loan Scheme and decided to get this loan then are to open a current deposit account in any Bank of Punjab branch.
You will be given an application form to fill and submit it to the same bank branch.
After all legal formalities you will be abled to get the BOP Tractor Loan amount in your Bank account.
For any problem contact on BOP official website www.bop.com.pk or Phone Number 111-267-200.
