Salary-Backed Scheme

At Agribank, we provide local solutions for each farmer's needs with tailor-made facilities at competitive interest rates. Agribank is broadening financial inclusion and promoting agricultural development by providing finance access to salaried part-time commercial and communal farmers, as well as agribusiness ventures, through the salary-backed loan product.

Loan Term

The loan is repayable on a monthly basis, and the repayment amount will be deducted from the salary via a payroll agreement with the employer. The term of the loan ranges between 12-60 months, depending on the loan type and/or affordability of the client.

Interest Rate
The minimum lending rate is 8.50%, and interest rates above 8.50% may be adjusted upward as guided by the pricing policy.

Applicants must meet the following standard requirements:
  • Be a Namibian citizen.
  • Be a part-time communal or commercial farmer (start-up or existing).
  • Be aged 21 years at the loan application stage.
  • Have a clean credit record.
  • Be permanently employed or SME business owners or those who are self-employed with a regular monthly salary.
  • Have an active bank account into which their monthly salary is paid (in case debit order deductions are required in-between employers).
  • Arrange short-term insurance for tractors, motor vehicles, and insurable implements.

Required Documentation

  • Certified copy of Namibian Identification document.
  • Original marriage certificate (if married).
  • Employment confirmation letter - from Human Resources.
  • Certified copies of three most recent salary slips.
  • Latest bank statement reflecting net salary for the past six months.
  • Quotation of the purpose of the loan.
  • Non-refundable administrative fee of N$150.00.

Disbursement Methods

  • Directly to suppliers (as applicable).
  • Directly to client, in case of working capital.
  • Loans granted will be disbursed on a draw-down basis.


Click to view or download the scheme and application form

Date:
23 Jul 2025
Title:
AB Salary-Backed Scheme
Date:
18 Jul 2025
Title:
Salary Backed Agriloans_Application Form_v1Feb2025

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FAQ

What type of security must I provide for a loan at Agribank?

Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies). read more

Does Agribank also provide personal loans?

No, Agribank is not a commercial bank. read more

Does Agribank provide loans to first time farmers?

Yes, Agribank can assist you to start farming. read more

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