Agriculture Finance Scheme : Indo Zambia Bank

Name of the Organization : Indo Zambia Bank
Type of Facility : Agriculture Finance Scheme
Country : Zambia

Website : http://www.izb.co.zm/english/agrifinancescheme.aspx

IZB Agriculture Finance Scheme

Farm Mechanization:
Offering attractive credit support for agricultural operations with the help of machines and implements.

Related : Indo Zambia Bank Apply For SMS Banking & Alert : www.statusin.org/6588.html

Purpose:
Term loan to acquire farming equipment

Quantum of Finance:
80% of the invoice amount

Rate of Interest:
BOZ Policy Rate plus margin

Repayment Period:
Maximum 60 months subject to profitability/income generation.

Processing Fee:
2.5% to 3%

Security:
Charge over assets created out of bank finance
Legal mortgage over plot/land/propertyInsurance of assets charged to the bank

Crop Loan:
Offering attractive credit support for procurement of farming inputs.

Purpose:
Crop loan to procure inputs like seeds, chemicals fertilizers, manure, pesticides and arranging of labour etc

Quantum of Finance:
80% to 90% of the project cost

Rate of Interest:
BOZ rate +margin

Repayment Period:
Crop loan is normally repayable by way of bullet payment from the proceeds of the harvest with due date synchronized with the harvesting season.

Processing Fee:
2.5%

Security:
Charge over crops
Equitable/Legal mortgage over plot/land/property, where possible
Insurance of assets charged to the bank

Contact:
Please contact your nearest branch for further details.

About Us :
Indo Zambia Bank was incorporated in October, 1984 is a joint venture between the Government of the Republic of Zambia and the Government of India represented through its three large public sector banks: Bank of India, Bank of Baroda & Central Bank of India.

FAQs :
1.Who can avail E-Statement facility?
All customers of Bank having Savings & Current A/c may avail this facility who are having their valid e-mail id. IZB is not liable to verify the any authenticity of the emails.

2.How do I register for the facility?
Presently, the registration is available on filling up a form and its submission at your branch. The form is available on our website, at branches.

3.Can I have more than 2 deposit accounts linked for the facility?
Yes, Only Saving/Current Deposit Accounts can be linked to this facility

4.What is the benefit to me from E-Statement?
Benefits :
** E-Statements are free and environment friendly
** Receive Weekly/Monthly/Quarterly E-Statements , without visiting branch
** Enjoy easy access to your account statements at the click of a button, anytime and anywhere
** Protect your confidential data with password protected E-Statements

5.Are there any charges from Bank?
No. This facility is provided FREE OF CHARGE *. Bank may decide to charge for the service at any later stage.

6.What if my account is a Joint account?
In case of Joint Account Holders the Joint Account Holders shall not hold liable the Bank for receiving the E statement to the Designated email address of one of the Account Holder.

7.Can I terminate this service?
Yes. You can terminate this service by giving an application to the branch.
8.Can I register my Loan Account for this facility?
No