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Financing Second Hand Tractors

Particulars Guidelines under the scheme
Purpose Purchase of second hand tractor
Eligibility Farmers engaged in cultivation of crops as owner of land, permanent tenants or leaseholders (for reasonably long period)
  • Should have perennially irrigated land of minimum 2 acres in his own name or jointly with family members who will be joint borrowers.
  • Farmers of other agriculture lending scheme viz. dairy, poultry, fisheries are also eligible to undertake the transportation of their produce as well as hollage work.
Quantum of Loan Max. loan amount - Rs 2 lacs
Nature of facility Term Loan
Rate of Interest Click Here
Margin 20% of value assessed by the Government valuer / dealer approved surveyor of General Insurance Company.
Repayment Period 3 to 5 years depends upon percentage of standard performance of tractor.
Security
  • Hypothecation of tractor and implements
  • Charge/mortgage of land or third party guarantee

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