| Description | Specific Product Details |
| Product Name | Askari Islamic Kissan Farm Storage Finance |
| Underlying Mode |
For construction, Renovation or purchase of assets: DM For Working capital: Finished Goods |
| Target Customer | Any individual/ entity directly involved in agribusiness (as per SBP agricultural PRs) |
| Purpose |
For construction, Renovation or purchase of assets:
To meet the working capital requirements i.e., storage of produce (various eligible crops) and other day to day expense of the store. |
| Financing Limit |
1. For construction 80% of construction cost and/ or purchase price and installation cost of machinery (excluding value of land) 2. For Renovation 70% of repair and renovation expense, limit not to exceed Rs. 5.000 (m) 3. For purchase of chilling / freezing plants & allied equipment 80% of purchase price chilling / freezing plants and allied equipment 4. For Working capital Up to 80 % of working capital feasibility report |
| Rentals/Pricing | 6MK+550 bps |
| Payment by Customer |
For construction, Renovation or purchase of assets: Rental + Principal (Unit) In equal quarterly/ half Yearly or as per Facility Approval For Working Capital Through sale proceeds of underlying goods |
| Maximum Tenor |
1. For construction, Renovation and/or purchase of chilling / freezing plants & allied equipment Maximum up to 10 years (including grace period up to 2 year) 2. For working capital Maximum up to one year |
| Security/ Collateral |
Mortgage/ Charge on agriculture land through Zari Pass Book Or Registered/ Equitable of urban/ residential/ commercial property Or Pledge of duly discharged DSC (s)/ SSC (S)/ Banks’s own TDR/ Lien on deposit account (To the extent acceptable to Shariah) |
