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New Scheme for Tractor

Particulars Guidelines under the scheme
Purpose
  • The schemes have been implemented with “Nodal Branch approach”. These Nodal Branches are called “Tractor Financing Branch”. These branches will sanction tractor loans under these schemes not only for their Branch but will also assist nearby branches in business canvassing and sanctioning.

Eligibility

  • A minimum land holding of 2.5 acres of agricultural land (single or jointly owned) is required for Tractor Loan- Agricultural end use and Agri cum commercial End use. For Tatkal Tractor Loan- First time users (FTUs) based on KYC documents
Quantum of Loan -
Nature of facility term loan
Rate of Interest
  • Tractor Loan- Agricultural end use and Agri Hiring- 14.50%
  • Tractor Loan- Agri cum commercial End use- 14%
  • Tatkal Tractor Loan- 13%
Margin
  • Tractor Loan- Agricultural end use and Agri Hiring- 15%
  • Tractor Loan- Agri cum commercial End use- 20%
  • Tatkal Tractor Loan- 30%
Repayment Period
  • Tractor Loan- Agricultural end use and Agri Hiring- 72 Months (6 Yrs.) / Monthly/ Quarterly/Half Yearly
  • Tractor Loan- Agri cum commercial End use- 72 Months (6 Yrs.) / Monthly/ Quarterly/Half Yearly
  • Tatkal Tractor Loan- 60 Months (5 Yrs) Monthly/ Quarterly
Subsidy -
Security -

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