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

Purchase of second hand (pre-used) Tractors by Agriculturists

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

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

Amount of Loan

  • Maximum of Rs.1,50,000/- only.

Margin

  • 5% for tractor age less than 3years.
  • 10% for tractors of age more than 3years but less than 7years.

Interest Rates

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

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.
* BPLR and BASE RATE – Available in Home Page