National Toll Free No1800 425 00 000
 
National Toll Free No1800 425 00 000

Financing Agriculturists for Purchase of Tractors

Financing Agriculturists for Purchase of Tractors

Purpose / Objective

  • For mechanizing the farming activities so as to improve agricultural production / productivity.
  • To purchase tractors / power tiller together with necessary equipments like cultivator, tiller, mould board plough, disc harrow, cage wheel, trailer, threshers, harvesters etc.

Eligibility

  • Farmers having minimum of 6 acres of irrigated land or 12 acres of dry land

Amount of Loan

  • Based on the quotation / invoice submitted for the vehicles and implements.

Margin

  • 10%
  • Can be reduced to 5% if value of collateral security is at least equal to loan amount

Interest Rates

  • Please refer the Lending Rates link on home page in our Bank`s Website.

Repayment

  • Maximum 9 years, in half yearly / yearly installments depending upon the crop cultivated.

Security

  • Hypothecation of tractor and other implements purchased with the Bank loan.
  • Third party guarantee mortgage of properties.
* BPLR and BASE RATE – Available in Home Page