Agriculture Loan
Target Customers: Designed for farmers.
Loan Term and Repayment Method
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Loan Term
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Repayment Method
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Interest Rate
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Required Documents
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|---|---|---|---|
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6 months
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The principal amount is repaid in a lump sum at maturity. Interest payments are made every two weeks or every 4 weeks.
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24% - 25% per annum
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Form 7 (Farmland Use Rights Certificate)
Form 105 (Certificate/Recommendation Letter from the Village Administrator confirming agricultural land ownership/use) Farmland Sale and Purchase Agreement Evidence of agricultural activities |
Loan Amount Limit:
Applicants holding the original Form 7 (Farmland Use Rights Certificate) are eligible for a maximum loan amount of up to MMK 1,000,000.
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Form 7 Status
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Loan Amount per Acre
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Loan Amount Limit by Land Size
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Maximum Loan Amount
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|---|---|---|---|
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Original Form 7 Available
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MMK 100,000 per acre
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0.5 acre or more: MMK 100,000
1.5 acres or more: MMK 200,000 |
Up to MMK 1,000,000
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|
Original Form 7 Not Available
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MMK 50,000 per acre
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0.5 acre or more: MMK 50,000
1.5 acres or more: MMK 100,000 |
Up to MMK 500,000
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Social Welfare Fund Contribution: 0.5% of the loan amount.
Service and Documentation Fee: 1% of the loan amount.
Compulsory Savings: 4% of the loan amount.
Agriculture Loan Requirements
For Agriculture Loan applications, if the owner named on Form 7 and Form 105 is a family member of the applicant, only a Recommendation Letter from the Ward/Village Administrator is required.
If the owner named on Form 7 and Form 105 is not a family member of the applicant, a Farmland Sale and Purchase Agreement must also be submitted in addition to Form 7, Form 105, and the Recommendation Letter from the Ward/Village Administrator.