1. Qualified Applicants: Individuals with repayment ability, no unfavorable credit record, and meet one of the following conditions.
(1) Under agricultural insurance.
(2) Formal member of the Farmers’ Association or A-class member of Fishermen’s Association.
(3) Have agricultural lands or fishing boats.
(4) Rent agricultural lands for agriculture, forestry, aquaculture and livestock breeding.
(5) Hired to work in the production, processing, transportation, sales, and storage fields of agricultural and fishing industries.
(6) Operate farms or pastures.
(7) Operate businesses in the production, processing, transportation, sales, and storage fields of agricultural and fishing industries.
(8) Work in the production, processing, transportation, sales, and storage fields of agricultural and fishing industries. The applicant should provide proof, or pass the investigation of the Bank.
2. Purpose: consumer loans for farmers.
3. Maximum Amount: Maximum NT$500,000 per applicant (including spouse).
4. Interest Rate: Fluctuating interest rate based on the Bank’s time savings interest rate index plus 2.612% (the annual interest rate is 4.909% at present). The time savings interest rate index is adjusted on the 21st of March, June, September and December each year.
5. Period: based on the borrower’s requirement, but should not exceed three years.
6. Collateral: 80% guaranteed by Agriculture Credit Guarantee Fund. The guarantee fee should be fully collected.
7. Guarantor: exempted.
8. Method of Repayment: The principal and interest should be amortized in monthly equal installments.
9. Processing Procedure: The Bank should check with the Fund on the previous guarantee situations of the applicant (including spouse), and approve the loan after obtaining the agreement of guarantee from the Fund.
10. Other matters should be handled based on the “Program of Strengthening the Agricultural Loans”, “Regulations of Consumer Loans Guarantee for Farmers by Agriculture Credit Guarantee Fund” and the related regulations of the Bank on consumer loans.