Financing growth & transforming rural India.
Bank of Baroda, for rural India, with rural India.
Financing Tractors and Heavy Agriculture Machinery
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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 Tractors and Heavy Agriculture Machinery : Benefits
- Processing charges Nil for Aggregate Loan upto Rs 3.00 Lakhs
- Inspection charges Nil for Aggregate Loan upto Rs 3.00 Lakh
- Low Land Requirement.
- Low Margin Requirement
- Repayment as per the income flow of borrower
Financing Tractors and Heavy Agriculture Machinery : Features
This Facility is available for
- Financing Tractors and Heavy Agriculture Machinery:
- Purchase of new tractor
- Tractor drawn implements
- Power tiller and other agriculture machines, etc.
Financing Tractors and Heavy Agriculture Machinery : Eligibility Criteria
- Land Holding Criteria: Minimum 4 acres of irrigated land and above or corresponding acreage prescribed for different categories of land under state land ceiling act.
- Tractor HP: Finance for tractor to farmers with land holding below 6 acres of irrigated land with horse power up to 35 HP only will be eligible.
Financing Tractors and Heavy Agriculture Machinery : Document Required
- KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
- Passport Size photo
- Quotation/Invoice
- Land Records
- IT Return
Financing Tractors and Heavy Agriculture Machinery : Fees & Charges
Processing charges:
- Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil
For Term Loan
- Above Rs 3 Lakhs - 1 % of the limit sanctioned with a maximum of Rs 100 lacs.
Inspection Charges:
- Agriculture exposure upto Rs. 3.00 Lakhs- Nil
- Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
- Above Rs 10 Lakhs to Rs 1 Crore - Rs 1000
- Above Rs 1 Crore - Rs 5000
Financing Tractors and Heavy Agriculture Machinery : Most Important Terms & Conditions (MITC)
| Financing Tractors and Heavy Agriculture Machinery | |||||||||||||||
| Margin | Minimum 25% | ||||||||||||||
| Repayment Period | Linked with Land holding and maximum upto 9 years. | ||||||||||||||
| Rate of Interest |
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| Repayment Capacity | Quarterly/Half-Yearly/Yearly is to be granted depending upon the pattern of income flow of the farmer | ||||||||||||||
