IFIC Shohoj Rin is an Agriculture loan initiative aimed at providing collateral-free agricultural loans to marginal farmers to foster the development of the country's agriculture sector and ensuring food safety.

Re-finance and Interest Subsidy facility available upon eligibility and availability

Highlights:

• Increased agricultural productivity and income for marginal farmers.
• Promotion of sustainable farming practices.
• Empowerment of farmers through access to finance and new technology.
• Reduction in rural poverty and improved livelihoods in farming communities.
• Strengthening of the country's agriculture sector, contributing to overall economic growth and food Safety.

Loan Segment:

• Grain & Crop
• Livestock
• Fisheries
• Agriculture equipment Machineries
• Seed Production
• Grain Warehouse & Marketing
• Rural Financing - Poverty alleviation & Income Generating Activity
• 0thers (Cultivation of Grain & Crop not mentioned in list and any other Agriculture related activity

Customer Segment:

• Individual person or Farm / Enterprises involved in different segment of Agriculture activities.

 

Customer Type:

• Individual
• Farm / Enterprises/Industry

Purpose:

• To meet financial requirements for cultivation of Grain and Crops, Livestock, Fisheries, purchasing Agriculture Equipment/Machineries, Seed Production, Grain Warehouse & Marketing, Rural Financing -Poverty alleviation & Income Generating Activity and any other Agriculture related activity.

Nature of Loan:

• Term Loan
• Overdraft (For Working Capital)
• Demand Loan (Revolving/One off)

 

Eligibility:

• Any individual/Farmer/Farm/Enterprise/Industry involved on different segment of any agricultural activities.
• Having minimum 1 year experience in segment of Agriculture.
• Must be a permanent resident in area of agriculture activity.

Age:

• Minimum: 18 Years
• Maximum: 65 Years

Loan Amount:

• Minimum: BDT. 5 Thousand.
• Maximum: BDT. 5 Lac.

Loan Tenor:

• 1 to 3 Years

Loan Repayment Method:

• Term Loan: By equal monthly installments
• Overdraft: Lump sum with interest at maturity
• Demand Loan (One off/Revolving); At one go with interest at maturity or in Lump sum within expiry of loan.

Interest Rate:

 

• Please contact us for query (16255)/09666716255 or visit any Branch/Uposhkaha of IFIC Bank PLC.

 

Required Documents:

 

General Documents

 

• 2 (Two) copies passport size attested photograph of borrower/ Partners/ Directors as well as guarantor(s).
• Copy of NID of both borrower & guarantor (Where applicable)

 

Note: In case of unavailability of NID of borrower:

 

Copy of Passport/Birth Certificate with additional photo ID/Driving license (Verified by original copy) may be obtained instead of NID.

 

• Valid Trade License for Enterprise/Industry (if any)
• Net Worth Statement of the borrower & guarantor.
• Bank statement for last 12(twelve) months (if available).
• Up to date clean CIB report
• Proof of Permanent Residency (Holding Tax, Rent Paid Receipt, Utility bill copy, NID, TIN or other ancillaries)
• Updated tenancy/rental deed if the borrowing concern/its godown situated at rented premises (if any)
• Periodical Stock Report (if any)

 

For proprietorship:

• No additional documents required.

For Partnership Firm:

• Registered Partnership Deed (with RJSC/RJSF) along with certificate of partnership Firm.
• Up to date list of partners