This Shariah Compliant financing facility based on Diminishing Musharakah is designed to facilitate Agricultural farmers in obtaining Agriculture Development Finance (Term Finance) for purchase and installation of electric/solar tube wells, lift pumps & High Efficiency Irrigation Systems e.g. sprinkler/trickles/drip/rain gun etc.
- Age Limit 18 to 62 Years
- Financing Tenor: 3 to 5 years
- Maximum Financing Amount Rs 3 million per customer
- Minimum ownership & Cultivation requirement:
- 12.5 Acre for Solar Tube Well/pumps
- 7 Acre for Conventional Tube Well/pumps
- 3 acres for High Efficient Irrigation Systems
- Payable in Half Yearly installments
- This financing facility is also available for women farmers
- Financing can be extended against one or more security options, details below:
- Agriculture Land
- Urban Property (Residential / Commercial/Industrial)
- Liquid Securities
- Hypothecation