Contract Farming Financing Package Under Fund For Food (3F)

CONTRACT FARMING FINANCING PACKAGE UNDER FUND FOR FOOD (3F)

Islamic banking financing facility using existing Fund For Food (3F)
Financing facility will be granted only to registered contract farming farmers who have signed the Forwarding Agreement with FAMA.
Maximum limit of financing is up to RM50,000 (Ringgit Malaysia: Fifty Thousand only) on any HIP, MOA agriculture project.
The minimum financing amount is RM10,000 (Ringgit Malaysia: Ten Thousand Only)
The terms and conditions for this financing package are as follows:
- Cross guarantee between FAMA contract farming participants or
- Guarantees from immediate family members
Financing tenure of no more than 60 months
Deferment period of no more than 6 months
Profit rate is at 3.75% per annum based on monthly rest
Repayment can be made on a monthly basis or according to flexible repayment plan (Flexi)
Collateral: The minimum conditions are as stated in Para E
Special Conditions: Subject to Agrobank general loan policy and Fund for Food (3F) policy.
Others
- For application exceeding RM50,000 (>RM50,000), the application is subject to the current policy of Fund For Food (3F).