To extend hassle free Tractor Loans to farmers with competitive rate of interest and flexible repayment option.

Types of Farmers
• Individual Farmers & Group of farmers.
• Farmers/SHG/JLG members residing permanently in the command area of Banks branches having good reputation in the local area and are not defaulters of the loan taken from our bank or other banks and cultivating land for crop production, other agricultural and hiring purposes are eligible for availing loan for tractor.
• Minimum agricultural land holding of 2.5 acres in the name of borrower(s) (land in the name of spouse can also considered).
• Minimum net annual income of the borrower(s) Rs.1,00,000/- from farm activity/custom hiring/ other sources ( income proof: ITR or Income certificate issued by Tahsildar) .
• EMI/NMI shall not exceed 60% .
• Applicants proposing to use the tractor for custom hiring only should possess a valid driving license apart from the prescribed land holding and assured workload of a minimum of 1500 hours per annum.
• Minimum three implements are to be purchased or owned by the applicant. If the applicant wants finance for engine only, he/she should own trailer in his/her name.

Tractor capacity:
• For tractors below 35 HP minimum 6 acres of perennially irrigated land or 12 acres of cultivable dry land.
• For tractors above 35 HP minimum 8 acres of perennially irrigated land or 15 acres of cultivable dry land.

12% at half yearly rests (as applicable to agricultural term loans).

REPAYMENT PERIOD:
• 7 yearly/14half yearly installments commencing six months after the date of 1 st disbursement coinciding with the harvesting period of crops raised.
• In case of custom hiring only, 60 monthly instalments including grace period of 6 months

• 50% of the cost of Tractor with accessories Or Maximum of Rs.4,00,000/- whichever is lower with Zero Margin.
• Above Rs. 4 lakhs with maximum loan amount upto 85% cost of tractor and accessories.- 15% margin.

KYC of the applicants.

Quotation of the vehicle.

Driving License.

PAN card.

direct link to service charges

Primary: Hypothecation of Combine Harvester and accessories purchased out of Banks finance. 

Collateral: Creation of Registered/ Equitable mortgage/charge on land (unencumbered), in the name of applicant(s), The value of which should be at least 100% of the loan amount. 

In case of Financing Combine Harvester, accessories and implements to Entrepreneurs undertaking custom hiring. The security offered should be urban property with construction there on with value of 110% to the loan amount.