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.