Important Announcement
Tractor Loan

Purpose

  • For purchase of Tractor with Accessories.

Eligibility

  • Agriculturist having minimum 6 Acre irrigated Agriculture land.

Rate of Interest

Repayment Period

  • Maximum up to Nine years.

Proposal Processing Charge

  • Rs. 100/- up to Loan amount of Rs. 25,000/-
     
  • Rs. 500/- for Loan amount above Rs. 25,001/- to Rs. 1,00,000/-
     
  • 1.25 % of Loan amount for Loan above Rs. 1.00 Lakh.

Margin

  • 25 % or below Limit, whichever is less
Sr. No. Horse Power Maximum Permissible Loan (Net of Margin)
1 30 to 39 HP Rs. 3.25 Lakh
2 40 to 45 HP Rs. 4.00 Lakh
3 45 to 50 HP Rs. 4.70 Lakh
4 51 to 55 HP Rs. 5.75 Lakh
5 56 to 60 HP Rs. 6.90 Lakh
6 61 to 75 HP Rs. 8.00 Lakh

Max & Min Loan:

  • Maximum: Related to cost of purchase keeping required margin.

Moratorium

  • No moratorium period

Security

  • Primary
  • Hypothecation of Tractor, Trailor and other Equipments for which applied for Loan
  • Collateral
  • Creation of charge on Agriculture Land.
     
  • Third Party Guarantee with Tangible security.
     
  • Post Dated Cheques.