Financing growth & transforming rural India.


Bank of Baroda, for rural India, with rural India.

Financing Four Wheeler Loans to Farmer

  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Fees & Charges
  • 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

Financing Four Wheeler Loans to a Farmer is sanctioned to purchase any new four-wheeler including jeep, SUV, station wagon, rural transport vehicle etc., for use in their farm management activities.

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 – Rs 1500 + GST

Financing Four Wheeler Loans to Farmer : Most Important Terms & Conditions (MITC)

Age Criteria
  • Minimum -21 years
  • Maximum -Up to 70 years as on the date of availing of facility. If the age of applicant /Landholder exceed 70 years, legal heir to be made co – borrower.
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

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