Terms and Conditions for Agriculture Loans
The terms and conditions of agriculture loans vary based on the nature of the agricultural project to be financed. The repayment term, for example, is related to the economic life of the asset to be financed, which may be four to five years in the case of a vehicle. However, the following general terms apply:
| Interest Rate: | 9% on the reducing balance |
|---|---|
| Term: | Up to 15 years |
| Grace Period: | Depends on the implementation period of the project |
| Purpose: | As in Agric. Loan Program above |
| Security: | Loans must be fully secured using an acceptable combination of security as shown in the Security Requirements for Agriculture Loans. |