|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.
|Eligibility||Farmer having minimum of 4 acres of irrigated land or 8 acres of dry land.
|Amount of Loan||Based on the quotation / invoice submitted for the vehicles and implements.|
b) Can be reduced to 5% if value of collateral security is at least equal to loan amount.
|Amount Slab(Rs. in Lakhs)
|>0.50 to 2.00
|>2.00 to 5.00
|Repayment||Maximum 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|| |