The agricultural sector is the backbone of Pakistan’s economy, making it extremely significant to empower the farmers and grow businesses. This is why the then-PM Imran Khan announced the Kamyab Kisan Tractor loan scheme for the farmers of Pakistan so that they can get access to the equipment, despite the money restraints.
Planning to apply for this loan scheme? Wondering whether you are eligible for this program? Here is a quick, one-stop guide for you to discover everything about the application process for tractor loan schemes in Pakistan. So, let’s get in for more.
About Kamyab Kisan Tractor Loan Scheme
The PM of Pakistan introduced the Kamyab Kisan Tractor Loan Scheme for 2023 to facilitate the empowerment of farmers and the progression of agriculture. This program was originally announced by the then-PM Imran Khan, who launched it with the aim of empowering young farmers with feasible businesses.
Under this program, the beneficiaries will be given resources like tractors, plants, agricultural equipment, and related machinery. This scheme has loans ranging between one lac to ten lac rupees. Following are some perks the beneficiaries of the Kamyab Kisan Tractor loan scheme will get to enjoy.
- The loan scheme covers amounts up to 10 lacs. This money will be distributed using all the commercial banks within Pakistan.
- The annual interest for the Kamyab Kisan Tractor scheme is around 3%.
- The beneficiaries can fulfill the installments within 7 to 8 years.
- The beneficiaries will have to pay a 10% advance payment for the first time.
- This loan scheme is available to all the local tractor companies in Pakistan.
- Apart from this, you can apply for any model from Massey Ferguson- Millat Tractors and New Holland- Al-Ghazi Tractors.
- In case the price of the tractor is more than one lac pkr, the beneficiaries will have to pay a different amount.
List of Banks
This application is facilitated by all commercial banks in Pakistan.
The application process for the Kamyab Kisan Tractor Loan is straightforward and doesn’t require any technical expertise. All you need to do is follow the chronological steps and get yourself registered. Here is a complete step-by-step guide on how you can apply for the tractor loan scheme in 2023.
- First of all, visit the Kamyab Jawan Website and navigate to the Kamyab Kisan Tractor loan scheme.
- From here, you will see a link to the application form. You can either download it to fill in the information manually, or you can automatically fill it in while being on the browser.
- Make sure to read all the instructions carefully to go through the process smoothly. And be sincere about all the information you are providing.
- Give extra attention to Section E (step 5) while filling out the form. For this, you will have to select Agriculture for the industry column, Agriculture Machinery for the business sector, and Tractor for the sub-sector.
- Finally, fill in the remaining steps of the application form.
- Once done, revise it again and again and press the submit button once you are completely sure.
- The banks will look into your application and give you a call if you get the loan. Further steps will be different based on the bank you have chosen.
Documents Required for the Application
While you are applying for the Kamyab Kisan scheme, the form will require you to upload some important documents. Here is a list of them, so you can keep them in one place while filling in the application form.
- Passport-size photographs of the candidate
- CNIC photograph (front and back)
- Latest education degree (according to Pakistan’s standard education system)
- If applicable, provide the certificate of experience
- If applicable, a license agreement with the Chamber of Commerce Authority
- In case you are aligned with an existing business, a letter of recommendation from the relevant government chamber of any other mandatory body
- Electricity bill with the ID of the candidate applying
- A mobile number to register
- Estimated monthly income (certificate)
Quick Tips for Application Process
Here are some tips that will help you go through the entire application process in one go.
- Make sure to use the registered phone number for the entire process.
- If you have all the documents in one place, the process won’t take you more than fifteen minutes. So, do so.
- Read all the instructions given above the application form link carefully. After you are done, read them again and check the form to see whether you have filled it correctly.
- The more information you provide, the better chances you have for evaluation. Hence, if you have included financial statements, employment letters, business feasibility, and bank statement for the past six months, there is no doubt that your application will be evaluated faster, and you may get the loan right away.
- Save the registration number you will get on your email and mobile phone. This is because it will help you track the application through the entire process.
- Having one phone number for the bank and application form will help you get all the notifications through an SMS.
Track Your Kamyab Kisan Program Application Status
Once you are done applying for this scheme, you will see a registration number displayed on the screen, which will also be sent to your registered email and phone number. Keep note of this number and save it for later use. After this, you can log in to the registration portal using this number whenever you need to check whether your application has reached the next level.
Applying for the Kamyab Kisan tractor loan scheme in 2023 is relatively easy. All you need to do is fill in the application and visit your nearest bank for guidance. It is not important for you to have a degree or higher education for this scheme.
So, if you are a farmer who needs access to agricultural equipment, definitely apply for this scheme. I hope you will get selected.