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 : Financing period does not exceed five (5) years or until the Customer reaches 70 years old on the financing maturity date (whichever is earlier). However, for customers over the age of 70, financing can be made with joint borrower from among their immediate family members

Profit Rate 

A• BERNAS Paddy-i: The profit rate for this financing is as low as 1.75% per season (6 months) and calculated on a monthly basis.


• PPK Paddy-i: The profit rate for this financing is as low as 1.75% per season (6 months) and is calculated based on the monthly balance.


• KPK Paddy-i: The profit rate for this financing is as low as 1.75% per season (6 months) and is calculated based on the monthly balance.


• Agro Paddy-i: The profit rate for this financing is as low as 3.25% per season (6 months) and is calculated based on the monthly balance.


Download Product Disclosure Sheet

Download Paddy-i A4 Flyers

Download BERNAS Paddy-i A4 Flyers

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 citizen residing in Malaysia.
    • Aged 18 years and up to 70 years at the end of the financing period.
    • Farmers need to channel the Skim Subsidi Harga Padi (SSHP) proceed with incentive received from the Government via the farmer’s saving account at Agrobank.
    • Not subject to legal action, including bankruptcy or have been declared bankrupt


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 20.

(Subject to Sales & Service Tax (SST) 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.)