Tractor Loan/Finance/Refinance - Kotak Mahindra Bank

img

KOTAK MAHINDRA BANK

 

INTRODUCTION:

We offer finance for purchase of new and old tractors, harvesters and implements for agricultural / commercial purpose. We are the preferred financier of key manufacturers.

Click Here

 

FEATURES & BENEFITS OF TRACTOR FINANCE

  • Loan for Purchase of New Tractor / Old Tractor, Implements etc.
  • Loans for Captive Usage for existing Customers
  • Nation-wide presence
  • Avail Life Insurance Shield – Kotak Kisan Suraksha
  • Excellent after sale service
  • Attractive rates of interest
  • Loans up 90% of tractor value
  • Personalised service at all branches

 

ELIGIBILITY FOR TRACTOR FINANCE

  • Minimum 3 acres of land in the name of borrower
  • Residential stability of 2 years
  • 2 years business experience if applicable

 

DOCUMENTS REQUIRED FOR TRACTOR FINANCE

Pre Sanction Documents:

  • Identity proof- Voter ID card/PAN card/Passport/ Aadhaar card,/Driving License etc
  • Address proof: Voter ID card/Passport/Aadhaar card/Driving license etc
  • Agricultural Land Proof – if available
  • Proof of Signature verification

 

Pre Disbursement Documents:

  • Fully executed loan documents
  • Original Invoice of the tractor purchased from the dealer
  • Margin Money Receipt received from dealer
  • Insurance pledged to Kotak Mahindra Bank

 

INTERSET RATE & CHARGES FOR TRACTOR FINANCE

 

  • Interest Rate Range for Tractor Loan:
  • Max: 26%
  • Min: Prevailing MCLR Or Reference Rate

 

  • Loan Processing Charges:
  • Upto 3% of Loan amount

 

  • Documentation Charges:
  • UptoRs. 5000

 

  • Stamping Charges:
  • At Actuals

 

  • Credit Administration Charges:
  • UptoRs. 6000/-

 

  • Credit Appraisal Charges:
  • Nil

 

  • Commitment Charges:
  • Nil

 

  • Overdue Interest:
  • Upto 3% of overdue amount, compounded monthly

 

  • Collection Charges:
  • 30% of penal and cheque bouncing charges

 

  • Dishonour Charges Per Instance:
  • Rs. 750.00

 

  • Swap Charges( Replacement of PDCs):
  • UptoRs. 500 per Swap per Instance

 

  • Prepayment Interest / Forclosure Charges:
  • 5% of Principal Outstanding as per reducing balance method

 

  • Duplicate Issue of NOC:
  • Rs. 500/-

 

  • Solvency Certificate:
  • Nil

 

  • No Due Certificate:
  • Nil

 

  • Charges for furnishing a copy of the credit information report (CIBIL) to the applicant:
  • Rs. 50/-

 

  • Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule):
  • Rs. 500/- (Once yearly without any charge. Post that 500 per request.)

 

  • APAC Reschedulement:
  • Nil

 

  • Part Foreclosure Charge:
  • Nil

 

  • Payment Processing Charge:
  • Not Applicable

 

  • Valuation Charges for Used/RF Vehicles:
  • Within city - Rs. 1000/-
  • Outside city - Rs. 1500/-

 

  • Repossession Charges:
  • UptoRs. 15,000/-

 

  • Credit Adminstration Charges:
  • UptoRs. 6,000/-

 

  • Duplicate Foreclosure Statement Charges:
  • Rs. 500/-

 

  • NOC for National Permit:
  • Not Applicable

 

  • NOC for State Permit:
  • Not Applicable

 

  • NOC for Change in Body Type:
  • Not Applicable

 

  • Rebooking of Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.):
  • Rs. 2,500/-

 

  • Change in Installment Due Date:
  • Rs. 1,000/-

 

  • Change in Property / Asset / Collateral:
  • Not Applicable

 

  • Copy of Any Property/Loan Document:
  • Not Applicable

 

  • Asset Verification Charges - Immovable Assets:
  • Not Applicable

 

  • Legal / Incidental Charges*:
  • At Actuals

 

  • NOC to Convert From Private to Commercial Registration:
  • NRH

 

  • NOC to Convert From Commercial to Private Registration:
  • NRH

 

  • Re-issuance of Pay Order:
  • Nil

 

  • Non Compliance with Sanction Terms and Conditions:
  • Nil

 

  • End-use Certificate Delays:
  • Nil

 

  • Net Worth Statements Delays:
  • Nil

 

*Taxes as applicable

 

POPULAR TRACTORS

Tractor News

Top 10 Tractor Companies in the World in 2022

Top 10 Tractor Companies in the World in 2022

For farmers, tractors are the most precious asset. Farming in the twenty-first century would be unth...

VST Tillers Tractors Ltd achieved EBIDTA of Rs 36.58 Crore, Growth of 65.67% YoY

VST Tillers Tractors Ltd achieved EBIDTA of Rs 36.58 Crore, Growth of 65.67% YoY

Bengaluru, 09 May 2022: VST Tillers Tractors Limited (VST), India’s leading farm equipment...

Top 15 Tractors list in India | Tractorgyan

Top 15 Tractors list in India | Tractorgyan

Tractors serve an important role in every farmer's life, and they are becoming more advanced in...

tractorgyan offeringsट्रैक्टरज्ञान द्वारा

POPULAR SECOND HAND TRACTORSलोकप्रिय पुराने ट्रैक्टर

LOCATE TRACTOR DEALERS/SHOWROOMट्रैक्टर डीलरों / शोरूम का पता लगाएं