agriculture-loan-scheme

Gilgit-Baltistan Agriculture Loan Scheme | ZTBL Loan Scheme 2024

The Gilgit-Baltistan Agriculture Loan Scheme is a financial initiative launched by the Government of Pakistan to provide loans to farmers in the Gilgit-Baltistan region.

Under the agriculture loan scheme for Gilgit-Baltistan, eligible farmers can avail of financing for various agricultural purposes, including crop production, horticulture, livestock development, and fisheries.

The loan can be used to purchase seeds, fertilizers, pesticides, farming machinery, and equipment, as well as for irrigation and other farming-related expenses.

Under the scheme, eligible farmers can apply for loans up to PKR 500,000 to PKR 2,500,000 (25 Lakh) at a subsidized markup rate of 3% to 9% per annum.

The loans can be used for various agricultural purposes such as the purchase of seeds, fertilizers, and machinery, as well as for irrigation and other farming-related expenses.

Gilgit-Baltistan Agriculture Loan Scheme | ZTBL Loan Scheme 2024

agriculture-loan-scheme
agriculture-loan-scheme

Table of Contents

Agriculture Loan Scheme Eligibility Criteria

Zarai Taraqiati Bank Limited (ZTBL) offers agriculture loan schemes to farmers in the Gilgit-Baltistan region. To be eligible for these loan schemes, farmers must meet the following criteria:

  • Age: The minimum age of the applicant should be 18 years, and the maximum age should not exceed 70 years at the time of loan maturity.
  • Nationality: The applicant must be a citizen of Pakistan.
  • Land Ownership: The applicant should have a valid land ownership certificate of cultivable land in the Gilgit-Baltistan region.
  • Credit History: The applicant should have a good credit history and should not be a defaulter of any financial institution.
  • Purpose of Loan: The loan should be used for productive purposes related to agriculture, livestock, or fisheries.
  • Repayment Capacity: The applicant should have the ability to repay the loan on time. The repayment capacity is determined based on the income generated from agricultural or livestock activities.

agriculture-loan-scheme-eligibility-criteria-&-documents-required
agriculture-loan-scheme-eligibility-criteria-&-documents-required

Loanable Products & Their Maximum Loan Limit

Zarai Taraqiati Bank Limited (ZTBL) offers a range of agriculture loan schemes to farmers in the Gilgit-Baltistan region.

The loanable products and their maximum loan limit under these schemes are as follows:

Crop Production Loan

This loan is provided to farmers for the purchase of inputs required for crop production, including seeds, fertilizers, and pesticides.

Livestock Development Loan

This loan is offered to farmers for the development of their livestock, including the purchase of animals, feed, and equipment.

Fisheries Development Loan

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This loan is provided to farmers for the development of fisheries, including the construction of fish ponds, and the purchase of fish seed, feed, and equipment.

Farm Machinery Loan

This loan is offered to farmers for the purchase of farm machinery, including tractors, harvesters, and other equipment.

Microfinance Loan

This loan is provided to small farmers and rural entrepreneurs for the development of their small businesses.

It’s important to note that the maximum loan limit may vary depending on the creditworthiness of the borrower and the purpose of the loan.

Interested farmers can contact any ZTBL branch in the Gilgit-Baltistan region for further details and to apply for a loan.

The official details for loanable products and their loan limits are mentioned in the following image.

agriculture-loan-scheme-Loanable-Products-&-their-maximum-loan-limit
agriculture-loan-scheme-Loanable-Products-&-their-maximum-loan-limit

Application Process For Zarai Taraqiati Bank Agriculture Loan Scheme

The application process for the Zarai Taraqiati Bank agriculture loan scheme in Gilgit-Baltistan involves the following steps:

  • Visit a ZTBL branch: Visit the nearest ZTBL branch in Gilgit-Baltistan to get information about the loan schemes and the application process.
  • Collect application form: Collect the agriculture loan application form from the ZTBL branch. Fill in the form with accurate and complete information.
  • Gather required documents: Gather all the necessary documents required for the loan application, including your CNIC, land ownership documents, bank statements, and any other documents as required by ZTBL.
  • Submit application: Submit the completed loan application form along with the required documents to the ZTBL branch.
  • Verification and appraisal: ZTBL will verify the information provided in the application form and will appraise the proposed project.
  • Loan approval: If the application is approved, the borrower will be informed about the terms and conditions of the loan, including the amount, interest rate, and repayment schedule.
  • Loan disbursement: Upon acceptance of the terms and conditions, the loan amount will be disbursed to the borrower’s bank account or as per the approved project.

Pros And Cons Of The Loan Scheme

Pros:

  • Simple process: The application process for the Zarai Taraqiati Bank agriculture loan scheme in Gilgit-Baltistan is relatively straightforward and can be completed by visiting a ZTBL branch.
  • Wide range of loan products: ZTBL offers a wide range of loan products under its agriculture loan scheme, allowing farmers to choose a loan that best suits their needs.
  • Quick processing time: ZTBL has a quick processing time, and borrowers can expect to receive a response within a few days after submitting their loan application.
  • Competitive interest rates: ZTBL offers competitive interest rates on its agriculture loan schemes, making it an attractive option for farmers who are looking for affordable financing.

Cons:

  • Eligibility criteria: Eligibility criteria for the loan scheme can be strict, and not all applicants may qualify for a loan. The creditworthiness of the borrower is a critical factor in determining loan approval.
  • Collateral requirement: The loan schemes may require collateral as security, which can be a challenge for farmers who do not have sufficient assets to pledge.
  • Documentation: The loan application process requires borrowers to submit various documents, which can be time-consuming and tedious.
  • Limited availability: ZTBL has a limited number of branches in Gilgit-Baltistan, which may make it difficult for some farmers to access its services.

ZTBL Loan FAQs

What are the eligibility criteria for the agriculture loan scheme?

The eligibility criteria for the loan scheme may vary depending on the loan product but typically include factors such as age, creditworthiness, land ownership, and income.

What documents are required to apply for an agriculture loan?

The documents required to apply for a loan include the borrower’s CNIC, land ownership documents, bank statements, and any other documents as required by ZTBL.

How long does it take to process an agricultural loan application from ZTBL?

The loan processing time may vary, but borrowers can expect to receive a response within a few days after submitting their loan application.

Is collateral required for the agriculture loan?

Collateral may be required as security for the loan, which can include land, property, or any other assets as approved by ZTBL.

What is the interest rate for the agriculture loan scheme?

The interest rate for the loan scheme may vary depending on the loan product and the borrower’s creditworthiness.

Generally, an interest rate of 3% is charged for agriculture loans under this scheme.

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