|Purchase of second hand (pre-used) Tractors by Agriculturists|
|Purpose / Objective||To meet out of the needs of farmers who cannot afford to buy a new tractor.|
|Eligibility||Farmers having minimum of 6 acres of irrigated land or 12 acres of dry land.|
|Amount of Loan||Maximum of Rs.1,50,000/- only.
|Margin||a) 5% for tractor age less than 3years.|
b) 10% for tractors of age more than 3years but less than 7years.
|Interest Rates||Please refer the Lending Rates link on home page in our Bank`s Website.
|Repayment||In 5years with quarterly / half yearly / annual installments, depending upon the crop cultivated.|
|Security||* Hypothecation Of tractor purchased with the bank loan.|
* Mortgage of properties and Third party guarantee.
|* BPLR and BASE RATE - Available in Home Page|| |