Connecting rural India to mainstream banking.


Empowering farmers to enhance their farm productivity through farm mechanisation.

Tractor Loans

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

Tractor Loans : 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

Tractor Loans : 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

Tractor Loans : 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.

Tractor Loans : 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)

Tractor Loans : Fees & Charges

Processing Charges: 1% of Loan amount

Tractor Loans : 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 / Half Yearly 60 Months (5 Yrs) Monthly / Quarterly
Moratorium Period Half Yearly- 180
Quarterly - 90
Monthly - 30
Half Yearly- 180
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

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