Financing growth & transforming rural India.
Bank of Baroda, for rural India, with rural India.
Financing Four Wheeler Loans to Farmer
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Benefits
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Features
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Eligibility Criteria
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Document Required
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Fees & Charges
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Most Important Terms & Conditions (MITC)
Financing Four Wheeler Loans to Farmer : Benefits
- Nil Processing charges for aggregate Loan Limit upto Rs 3.00 Lakhs
- Nil Inspection charges for aggregate loan limit upto Rs 3.00 Lakh
- Maximum Loan upto Rs. 30.00 Lakh
- Low Interest Rate
Financing Four Wheeler Loans to Farmer : Features
For purchase of any new four wheeler by farmers, for managing their farm activities, like using in pre and post – harvest activities and transporting of their own farm produce and personal uses.
Financing Four Wheeler Loans to Farmer : Eligibility Criteria
- Farmers including those engaged in Allied activities having family income sufficient to repay the loan. If the main source of income of the farmer is from land based activity.
- Farmers should have minimum land holding of 4 acres perennially irrigated land or 8 acres of seasonally irrigated land
Financing Four Wheeler Loans to Farmer : Document Required
- KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
- Passport Size photo
- Quotation/Invoice (if available)
- Land Records
- IT Returns (if available)
Financing Four Wheeler Loans to Farmer : Fees & Charges
- Loan upto Rs 3.00 Lakhs – Nil
- Loan above Rs 3.00 Lakhs – 1 % of the limit sanctioned with a maximum of Rs 30 lacs
Financing Four Wheeler Loans to Farmer : Most Important Terms & Conditions (MITC)
| Age Criteria |
|
| Quantum of Loan | New Vehicle: Maximum Loan upto Rs. 30.00 Lakh. |
| Rate of Interest | One year MCLR + SP+ 0.25% |
| Repayment |
7 years The installments may be fixed on monthly / quarterly/ half yearly/ yearly basis based on cropping pattern / income generation. |
| Security | Composite hypothecation Agreement for agricultural advances |
