Agro Cash Line-i is an overdraft facility to finance agriculture based business. This product is based on Tawarruq transactions.
This product offers financing facilities with features as follows:
Minimum: Six (6) months
Maximum: Ten (10) months
|Profit Rate||Ceilings Profit Rate (CPR) :
BFR + 4% P.A. or 10% pa, whichever is higher for the calculation of the sales priceEffective Profit Rate (EPR):
At the current pace and did not exceed the ceiling profit rate charged and is calculated on the daily balance for the calculation of minimum payments
|Minimum Payment||a) Within the facility tenure:
Monthly profit payments subject to total current consumption and calculated based on the effective profit rateb) Upon maturities:
Current Base Financing Rate (BFR) is 7.00% and will be determined by Agrobank from time to time
Fees & Charges
|Stamp Duty||As in the Stamp Duties Act 1949 ( Revised 1989)|
|Legal Charges||Including legal charges for financing documentation, registration charges, ground search, search bankruptcy / bankruptcy and other charges related|
|Brokerage Fees||Charges Brokerage / Trading for each transaction is at RM15 for every million purchased in commodities (subject to 6% GST).|
Note : The Bank will send a notice at least 21 days notice to customers before any change is made in the fees and charges apply.