Helping millions of Indian farmers benefit from our schemes.
Bank of Baroda, for rural India, with rural India.
Two Wheelers (Motorcycle/Scooter) Loan 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)
Two Wheelers (Motorcycle/Scooter) Loan to Farmer : Benefits
- Nil Pre-payment Charges
- Low Rate of Interest
Two Wheelers (Motorcycle/Scooter) Loan to Farmer : Features
Loan is sanctioned to a farmer for purchase of new two-wheeler (motorcycle/scooter)
Two Wheelers (Motorcycle/Scooter) Loan to Farmer : Eligibility Criteria
All new and existing farmers engaged in Agriculture and / or agriculture allied activities having repayment capacity based on crops grown / allied activities / other sources.
Two Wheelers (Motorcycle/Scooter) Loan 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)
Two Wheelers (Motorcycle/Scooter) Loan to Farmer : 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
Two Wheelers (Motorcycle/Scooter) Loan to Farmer : Most Important Terms & Conditions (MITC)
| Age Criteria | Minimum - 21 years Maximum-up to 65 years as on the date of availing of facility. If the age of farmer exceeds 60 years, in such case the son to be made co-borrower. |
| Eligibility Criteria | All new and existing farmers engaged in Agriculture and / or agriculture allied activities having repayment capacity assessed by the branch based on crops grown / allied activities / other sources. |
| Quantum of Loan | Maximum loan Amount is Rs 3.00 Lakhs |
| Repayment |
For Loan amount upto Rs.1 Lakh: The installment can be fixed on monthly/quarterly/half-Yearly/yearly basis depending upon cropping pattern/ allied activities/other source of income. For Loan amount above Rs. 1 Lakh: Installment frequency will be monthly with a maximum moratorium period of 1 month. |
| Security | Hypothecation of vehicle |
| Rate of Interest | One year MCLR + SP |
| Insurance | Comprehensive insurance of the vehicle is to be done with Bank’s clause. |
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