Please refer to ACD Circular No. 05 of 2003 and ACD Circular No. 02 of 2010 regarding standardization and simplification of agri. credit documents and loan application forms.
2. To further simplify the lending procedures and to increase efficiency in loan processing and turnaround time, SBP in consultation with banks, has revised the Agri. Loan Application Form and categorized it into two forms (enclosed);
i) Loan Application Form (LAF-1) for farmers requesting finance up to Rs. 1 million
ii) Loan Application Form (LAF-2) for farmers requesting finance above Rs.1 million
3. Banks are advised to adopt the revised loan application forms mentioned above by September 30, 2016. SBP and its SBP-BSC offices will monitor the compliance on regular basis.
4. All other instructions on the subject shall remain unchanged.
5. Please acknowledge receipt.
Encl: As Above
LAF-1 (English & Urdu)
LAF-2 (English / Urdu)