Paddy Cash-i is an uncollateralized financing facility to cater the customer’s daily needs and other usage such as the acquisition, renting/leasing or levelling of land etc. based on the Bai’ Al-Inah transactions.
The usage of:
- Buy land
- Rent / lease of land irrigated
- Irrigated land leveling
- Children's education
- Home repair and buy equipment / furniture
- Buy agricultural machinery and vehicles / motorcycles
- Other uses of farmers and family
- Malaysian citizens residing in Malaysia
- Farmers registered with Bernas (Padi Beras Nasional Berhad) or other relevant agencies legally recognized by the government
- Age 18 years and over 65 years until the due date of the financing
Fee & Charges
|Financing Limit||Minimum RM3,000.00
Maximum RM50,000.00 (or in accordance to an aggregate amount of a combination of Paddy-i & PaddyCash-i)
|Financing Tenure||Maximum seven (7) years or fourteen (14)seasons|
|Profit Rate||BFR + 3.1%per annum on monthly rest|
- Make a payment every six (6) months from the date of first disbursement of financing. Payment is deducted directly from paddy subsidies of the customer channelled to the Bank.
- If the subsidies are not enough, the Bank is entitled to claim for reimbursement from other sources.
- Customers should make mandatory savings of1.5% out of the total financing or minimum value of RM100.00.
- No collateral / guarantee apply