|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||Farmer having minimum of 4acres of irrigated land or 8acres 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.
|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.
|Amount Slab(Rs. in Lakhs)
|>0.50 to 2.00
|* BPLR and BASE RATE - Available in Home Page|| |