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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.
EligibilityFarmers having minimum of 6 acres of irrigated land or 12 acres of dry land
Amount of LoanBased on the quotation / invoice submitted for the vehicles and implements.
Margina) 10%
b) Can be reduced to 5% if value of collateral security is at least equal to loan amount.
Interest RatesPlease refer the Lending Rates link on home page in our Bank`s Website.
RepaymentMaximum 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 

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