Agriculture loan products in Bank Asia will help you meet your needs and help strengthen your economic infrastructure.
What is Bank Asia Agriculture Loan?
Agriculture remains the most important sector of Bangladesh’s economy. Overall economic development of the country is dependent on the agriculture sector. It is inevitable that the food security of the country can be insured only through the expansion of this prioritized sector. However, as widely identified, one of the major constraints that have been hindering sustainable growth and development of this sector is the scarcity of funds amongst poor farmers. Recognizing this and also to facilitate the same, Bank Asia has been providing agricultural credit since its inception. The credit facility has been distributed through direct and indirect channels.
Bank Asia Cropping Support scheme
Features of Bank Asia Agriculture Loan
- Cultivation of all kinds of cereal Crops (Rice, Wheat, Maize & Potato)
- Cultivation of all kinds of rabi & kharip vegetables
- Cultivation of Spices (Onion, garlic, Zinger, Chili, Turmeric, Cumin)
- Cultivation of Pulse crops (Gram, Mug bean, Lentil, Kheshari, Cheak pea)
- Cultivation of oil crops (Mustard, Sunflower, Sesame, Soy bean, ground nut, Flax/lin seed etc.)
- Cultivation of cash crops (Cotton, Jute, Sugar cane) except tea
- Production of green manure like Sesbania plant (Dhaincha)
- Cultivation of fruits
- Cultivation of flowers.
Bank Asia Dairy Support Scheme
Features of Dairy Support Scheme
- Interest Rate: 8.00%
- Purchasing Bull/Ox/Cow/Goat/Sheep
- Beef Breeder and fattener units
- Dairy Farm
- Bio-gas Plant.
Who are the Target Customers?
- Proprietorship business engaged in the above activities
- Small, marginal, and share farmers directly engaged in the above activities.
What is the Financing mode?
- Short-term loan (DL, Short term loan)
- Long-term Loan (Maximum 3 years).
What is the Bank Asia Fishery Support?
Features of Fishery Support Scheme
- Interest Rate: 8.00%
- Production of Fish Fry
- Production of all kinds of fish/Crab/Mussel/Turtle farming
- Small business-like Production of Dry fish, Catching fish etc.
- Buying of Trawler, Boat & different equipment, and related vehicles
- Fish/Shrimp hatchery
- Fish feed production for own purpose.
- Construction of small cold storage by fishermen
- Purchase of nets – trawl net/purse-seine/grill nets
- Purchase of chilling/freezing plants, fish storage center (distribution center).
Who are the Target Customers?
- Proprietorship business engaged in fish farming
- Small, marginal and share farmers directly engaged in fish farming.
What is the Financing mode?
- Short term loan (DL, Short term loan)
- Long term Loan -Maximum 2 years (only for equipment).
Bank Asia Poultry Support
Features of Poultry Support Scheme
- Interest Rate: 8.00%
- Broiler and layer poultry Farms, hatchery units
- Poultry feed producer for own purpose
- Duck rearing.
Who are the Target Customers?
- Proprietorship business engaged in poultry farming
- Small, marginal and share farmers directly engaged in poultry farming.
What is the Financing mode?
- Short term loan (DL, Short term loan)
- Long term Loan (Maximum 2 years).
Bank Asia Equipment Support
Features of Equipment Support Scheme
- Interest Rate: 8.00%
Purchase of Agri equipment: i.e., trailers & threshers, power tiller, Deep tube well/Shallow tube well/LLP/Hand driven tube well / water pump/ treadle pump, power & boom sprayers, plough, cultivators, drills, rotavators, diggers, cotton picker, saw machines for crate making, press machines for wheat straw and dry fodder, chisel ploughs, potato planter, sugarcane planter, rice trance planter, self-propelled reaper for harvesting wheat and rice crops, etc.
Transport Financing includes: purchase of tractors, refrigeration vans, farm cooling tanks, motorcycles for milkmen, small pickups, mini trucks, and chiller carriers, etc.
Installation of Tube wells/Turbine, Sprinkle/Drip irrigation system, water management, solar energy plants, pumps for irrigation system, etc.
Who are the target customers?
- Small, marginal and share farmers purchase equipment for the own use.
What is the Financing Mode?
- Long term Loan (Maximum 3 years).
Read: Bank Asia Personal Loan
Bank Asia Credit Facility in Specialized Sectors
Features of Equipment Support Scheme
- Interest Rate: 8.00%
- Loan to 10 Tk. Account Holder
- Loan limit: Maximum Tk. 50,000.00
Who are Target Customers?
- Small/Marginal/Landless Farmer: maximum land of 2.47 acres or less by his or her own name.
- Micro/Marginal/Small business people: small grocery shop, cobbler, goldsmith, barber, blacksmith, porter, fisherman, tailor, floating businessman, flexi load and internet service provider, small hotel, flower seller, newspaper hawker, tea stall, book shop, packaging, Hawkers, fruits/ vegetable seller, Rickshaw/ Van puller, electrician, carpenter, masons, painter, welder, plumber, dairy/ poultry farmer, pickle/cake maker, weaver, block/ tie-die worker, small & cottage industry, handicraft, confectionary & entrepreneur of food making, VDP member who has training on income generating activities, etc. and people engaged in any other similar income generating activity.
- People affected by natural calamities involved in any income-generating activities.
- Disabled & women entrepreneurs.
What is minimum initial deposit?
- The primary deposit of these accounts will be Tk.10 only without any minimum balance requirements.
What is Financing mode?
- Direct Financing: Short term loan (DL, Short term loan).
Eligibility Criteria for Bank Asia Agriculture Loan
- The applicant must be a Bangladeshi national
- Age should be between 21 – 60 years
- The candidate should have experience in related farming activities
- Should have been trained and skilled with sound knowledge in managing the farm
- The applicant should own land used for the farm or have verifiable proof of authority to use it in case of landless farmers
- The borrower /applicants having secondary line of sources of income will get the priority
- The client should not be a defaulter of any Bank/NBFI/MFI
- Women borrowers if they meet eligibility criteria and their loan proposals are technically feasible & financially viable will get preference.
Required Documents
Here are the documents you need to submit when applying for an Agriculture loan from Bank Asia:
- National voter ID/Passport/Photocopy of ward commissioner/UP chairman certificate of the proprietor/farmer.
- Valid trade license of the applicant (for farm, if needed).
- Photographs of the proprietor /farmer/farm/collateral security signed by the applicant.
- Rent/ Lease/Possession Agreement/Deed. (If any)
- Latest clean/standard CIB report. (Where applicable)
- Others as applicable.
Frequently Asked Questions (FAQs) on Bank Asia Limited Agriculture Loan
How do I apply for a Bank Asia Agriculture loan?
- You can apply for a Bank Asia Agriculture loan by visiting the official website of the bank, by visiting the nearest branch, or by online application.