Upgrade your farm equipment with easy tractor loans. Get Loan up to 90% of Tractor Cost with highly competitive interest rates and processing fees. Loans for purchase of New / Old Tractors & Farm Equipments.
FEATURES & BENEFITS OF TRACTOR FINANCE
Get Loan up to 90% of Tractor Cost.
- Loan Repayment tenure from 12 months to 84 months.
- Enjoy hassle-free documentation and speedy disbursal within 30 minutes of approval
- Flexible Repayment Options
- Loans without Land Mortgage and with Land Mortgage
- Loans available basis Registration Certificate / Repayment Track Record / Income Proof
ELIGIBILITY FOR TRACTOR FINANCE
- Maximum age - 60 years
- Minimum Annual Income : ₹ 1 lakh (for Farmers) & ₹ 1.5 lakhs (for Commercial segment)
DOCUMENTS REQUIRED FOR TRACTOR FINANCE
- Application Form
- Latest photograph of Borrower(s) / Guarantor (wherever applicable)
- Aadhaar Card (Mandatory)
- Identity Proof: Any one of Voter ID / PAN Card / Driving License / Passport
- Proof of Signature Verification: Any one of Passport / Driving License / PAN Card / Bank Verification.
- Land Ownership Proof (wherever applicable)
- Others documents (wherever applicable)
- Repayment Track Record
- Registration Certificate of existing asset
- Income Proof : ITR & Financials of Last 2 Years
- Proof of Salary / Pension
INTERSET RATE & CHARGES FOR TRACTOR FINANCE
- Interest Rate Range during the Period of Jan’20 to Mar’20:
- Max 23.80%
- Min 9.95%
- Avg 16.51%
- Average Annual Percentage Rate offered during the period of Jan'20 to Mar'20:
- Max 27.17%
- Min 10.09%
- Avg 16.79%
- Pre-payment / Part Payment Charges*:
- 6% - if within 6 months from the date of disbursement on the principal outstanding.
- 4% - After 6 months and before 12 months from the date of disbursement on the principal outstanding.
- 2% - After 12 months from the date of disbursement on the principal outstanding
- In the event of cancellation, Interest charges will be borne by the customer. Processing Fee, Stamp Duty and RTO charges are non-refundable charges and would not be waived/refunded in case of loan cancellation.
- 2% per month on unpaid instalments.
- Legal, Repossession & Incidental charges:
- Stamp Duty & other Statutory Charges:
- CIBIL Charges (only on request):
- Duplicate No Due Certificate / NOC:
- Duplicate Amortization Schedule Charges:
- Cheque / ECS / SI Swap Charges:
- Collateral & ACH Documentation Charges*:
- Loan Reschedulement / Re-booking charges:
- Cheque / SI / ECS Return Charges*:
- Documentation charges (For Agri Mortgage and Used Tractor Valuation Cases)*:
Note: *Where ever notifiedGST and other government levies, as applicable, would be charged additionally at the applicable rates.
* Exclusive of GST