Connecting rural India to mainstream banking.


Empowering farmers to enhance their farm productivity through farm mechanisation.

New Scheme for Tractor

  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Fees & Charges
  • Most Important Terms & Conditions (MITC)

New Scheme for Tractor : Benefits

  • Low Processing Charges
  • No Minimum Land holding requirement for Tatkal Tractor Loan
  • Attractive Interest Charges
  • Quick Processing
  • No restriction on HP range
  • Provisions for Credit Life Insurance cover

New Scheme for Tractor : Features

Tractor Loans are available in three categories

Tractor Loan-Agricultural end use and Agri Hiring-

A minimum Land holding upto 2.5 acres of agricultural land (single or jointly owned) is required

Tractor Loan- Agri cum commercial End use

A minimum Land holding upto 2.5 acres of agricultural land (single or jointly owned) is required

Tractor Loan- Tatkal Tractor Loan

Not Applicable

New Scheme for Tractor : Eligibility Criteria

  • Applicant should be a Local Resident for a period of at least 3 years in service area of branch
  • Borrower's age should not be less than 18 Years & should not exceed 70 years at the time agreement, In case borrowers age exceeds 70 yrs, family member (Blood relation/legal heir) can be taken as a co-applicant.

New Scheme for Tractor : Document Required

  • KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
  • Passport Size photo
  • Land Record
  • Quotation/Invoice (if available)
  • IT Returns (if available)

New Scheme for Tractor : Fees & Charges

Processing Charges: 1% of Loan amount

New Scheme for Tractor : Most Important Terms & Conditions (MITC)

Parameters Tractor Loan-Agricultural end use and Agri Hiring Tractor Loan- Agri cum commercial End use Tractor Loan- Tatkal Tractor Loan
Residence stability Local Resident for a period of at least 3 years in service area of branch (residential stability should be confirmed by Documentary evidence issued by GOI).
Age Norms Borrower's age should not be less than 18 Years & should not exceed 70 years at the time agreement, In case borrowers age exceeds 70 yrs, family member (Blood relation/legal heir) who satisfy the above criteria need to sign the agreement as co-applicant.
Minimum Margin 15% 20% 30%
Maximum LTV 85% 80% 70%
Rate of Interest (FIXED)
Loan to Value (LTV %) Tractor Loan-Agricultural end use and Agri Hiring Tractor Loan- Agri cum commercial End use Tractor Loan- Tatkal Tractor Loan
Above 80% and up to 85% 14.50% NA NA
Above 70% and up to 80% 14% 14% NA
Above 60% and up to 70% 13% 13% 13%
Above 50% and up to 60% 12.50% 12.50% 12.50%
Up to 50% 12.25% 12.25% 12.25%
Repayment Period 72 Months (6 Yrs.) / Monthly/ Quarterly/Half Yearly 72 Months (6 Yrs.) / Monthly/ Quarterly 60 Months (5 Yrs) Monthly/ Quarterly
Moratorium Period Half Yearly- 180
Quarterly - 90
Monthly - 30
Quarterly - 90
Monthly - 30
Quarterly - 90
Monthly - 30
Security Hypothecation of Vehicle Hypothecation of Vehicle Hypothecation of Vehicle
Tractor HP No restriction of Tractor HP range

Add this website to home screen

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.


The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.


Proceed to the website


Thank you for visiting www.bankofbaroda.in

X
We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, Privacy Policy and Terms & Conditions please click here. By continuing to browse this website, you consent to our use of cookies and agree to the Privacy Policy and Terms & Conditions.