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.
- 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.
- Can be reduced to 5% if value of collateral security is at least equal to loan amount
- Please refer the Lending Rates link on home page in our Bank`s Website.
- Maximum 9 years, in half yearly / yearly installments depending upon the crop cultivated.
- 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