FEATURES AND BENEFIT OF TRACTOR FINANCE

• Nature of Facility – Term Loan
• Margin – 20%
• Primary and Collateral Security
• Hypothecation of Tractor and other assets created out of Bank finance.
• Hypothecation of crops.
• Mortgage/charge on agricultural land
• Insurance - Assets created out of loan have to be insured for full value.
• Repayment 7 to 9 years.

ELIGIBILITY OF TRACTOR FINANCE

Individuals, Partnership firms, companies, FSS, PACs engaged in agriculture and / or allied activities and having land holding of 8 acres of perennially irrigated land or 16 acres of dry land cultivating single crop in a year or 4 acres of irrigated land and cultivating minimum two crops in a year.

FEATURES AND BENEFIT OF TRACTOR REFINANCE

Nature of Facility – Term Loan

• Quantum of Loan 2 Wheeler - 90% 4 Wheeler - 80%
• 2 Wheeler - 90%
• 4 Wheeler - 80%
• Margin 2 Wheeler - 10% 4 Wheeler - 20%
• 2 Wheeler - 10%
• 4 Wheeler - 20%
• Security Hypothecation of vehicle. Guarantee of two persons OR creation of Mortgage/ charge on land.
• Hypothecation of vehicle.
• Guarantee of two persons OR creation of Mortgage/ charge on land.
• Repayment 2 Wheeler - within 5 years 4 Wheeler - within 7 years
• 2 Wheeler - within 5 years
• 4 Wheeler - within 7 years
• Insurance - Assets created out of loan have to be insured for full value.

ELIGIBILITY OF TRACTOR REFINANCE

Two Wheeler: Existing borrower enjoying a limit of Rs.1.00 Lakh & Above .

• Four Wheeler: Existing borrower enjoying a limit of Rs.2.50 Lakhs & above in case of CKCC/CKGC holers& Rs.1.00 Lakh & Above in case of other allied activities.

INTERSET RATE & CHARGES OF TRACTOR REFINANCE

• Interest Rate Range for Tractor Loan

• Limit Upto Rs.50,000/- (MCLR + 0.50%)
• Above Rs.50,000/- upto Rs.5.00 lacs (MCLR + 1.00%)
• Above Rs.5.00 lacs upto Rs.25.00 lacs (MCLR + 1.50%)
• Above Rs.25.00 lacs (MCLR + 2.00%)

• Processing fees

• @ Rs.120/- per lac (0.12%) or part thereof subject to maximum Rs.20,000/-.

• Documentation Charges:

• Nil