| Purpose / Objective | To meet out of the needs of farmers who cannot afford to buy a new tractor. |
| Eligibility | Farmer having minimum of 4acres of irrigated land or 8acres of dry land.
|
| Quantum of Loan | Maximum of Rs.1,50,000/- only.
|
| Margin | a) 5% for tractor age less than 3years.
b) 10% for tractors of age more than 3years but less than 7years. |
| Repayment Period | In 5years with quarterly / half yearly / annual installments, depending upon the crop cultivated. |
| Security | * Hypothecation Of tractor purchased with the bank loan.
* Mortgage of properties and Third party guarantee. |
| Other Requirements/Details |
| Amount Slab(Rs. in Lakhs) |
Interest Rate |
| <0.50 |
BPLR + TP less 1.75% |
| >0.50 to 2.00 |
BPLR + TP less 0.75% |
|
| * BPLR = 12.50 % and BASE RATE = 8.00 % | |
