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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.

 

 

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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

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


CALL CENTRE: 1 300 (AGRO)