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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.
EligibilityFarmer having minimum of 4 acres of irrigated land or 8 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 Rates
Amount Slab(Rs. in Lakhs) Interest Rate
<0.50 BR+0.75+1-12.25%
>0.50 to 2.00 BR+1.75+1%-13.25%
>2.00 to 5.00 BR+2.00+1%- 13.50%
>5.00 BR+2.75+1%-14.25%

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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