AGROBANK Logo
  • Downloads
  • Branch/ ATM Locator
  • Search

Paddy-i (Tawarruq)

Paddy-i (Tawarruq) is an uncollateralised financing to finance working capital for rice planting activities in a paddy field which is certified by related government agencies. This product is based on the Tawarruq transactions.

 

 

CONTACT US NOW

 

Product Details

Limit

Minimum : RM1,000

Maximum: RM50,000 (or by combination of aggregate financing Paddy-i & Paddy Cash-i financing)

Tenor

Minimum : Six (6) months

Maximum : Seasonal review, not exceeding five  (5) years

Profit Rate  3.25% fixed rate per season

 

Download Product Disclosure Sheet

 

Financing Payment

  • Rice sales and subsidies are channelled directly to the Bank
  • Deductions from savings accounts in banks; OR
  • Other methods acceptable to the Bank

Eligibility Criteria

  • Malaysian
  • Farmers registered with BERNAS (Padiberas Nasional Berhad) or other related agencies certified by the government
  • Age 18 and above until the age of 70 years at the expiry of the financing period
  • There are no legal obstacles


Security/Guarantee
Excluded from any collateral / guarantee

 

Fees & Charges

Stamping Fees As per the Stamp Act 1949 (Revised 1989).
Brokerage/ Trading Fees

Brokerage fee for every successful Tawarruq transaction is at RM 15 for every millions of commodity purchasing amount.

(Subject to GST at 6%)

Wakalah Fees

Wakalah fee are based on the table below.

Total financing (RM) Fees charges (RM)
Up to 1,000.00

    10.00
1,001.00  to  3,000.00

    15.00
3,001.00  to  5,000.00

    20.00
5,001.00  to  15,000.00

   30.00
15,001.00  to  25,000.00

   35.00
25,001.00  to  35,000.00

    45.00
35,001.00  to  50,000.00    50.00



(Wakalah fees will be added to Tabung Khairat for the benefit of
customer in the event of death and taken every time a payment is
made.)

   
   


  • English
  • Bahasa