| Purchase of second hand (pre-used) Tractors by Agriculturists |
| 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.
|
| Amount 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 | 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 |
BR+0.75+1-12.25% |
| >0.50 to 2.00 |
BR+1.75+1%-13.25% |
|
| * BPLR and BASE RATE - Available in Home Page | |
