Tractor Loan/Finance/Refinance - Axis Bank

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AXIS BANK

 

INTRODUCTION:

Axis Bank brings you the best deals in the market and a range of attractive features on loans for tractors. As part of its Agriculture Loans portfolio, Axis Bank offers Tractor Loans with flexible repayment options, quick and easy sanctions, special benefits and much more. These hassle-free loans for tractors come with zero foreclosure charges which makes them even more beneficial for customers. To avail Axis Bank’s Tractor Loans, you need to fulfill the Tractor Loans eligibility criteria. One of the main criteria to avail the Tractor Loan is minimum 3 acres of land holding for farmers.

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FEATURES & BENEFITS OF TRACTOR FINANCE

  • Customized Loans
  • Flexible Repayment Options
    • Monthly
    • Quarterly
    • Half-Yearly
  • Easy and Quick Documentation
  • Doorstep Service
  • Hassle-Free Loans
  • Maximum 90% Loan

 

ELIGIBILITY OF TRACTOR FINANCE

  • Minimum age of applicant should be 18 years
  • Maximum age of applicant should be 75 years as on date of funding
  • Minimum 3 acres of land holding for farmers

 

DOCUMENTS REQUIRED FOR TRACTOR FINANCE

  • Duly filled and signed application form
  • KYC documents
  • Proof of land ownership, where ever applicable
  • Income documents, where ever applicable
  • Performa invoice / quotation

 

INTERSET RATE & CHARGES FOR TRACTOR FINANCE

 

  • Interest Rate:
  • Effective Rate 17.50% - 20.00%

 

  • Cheque Bounce / Instrument Return Charges:
  • Rs 500/ Instance

 

  • Cheque / Instrument Swap Charges:
  • Rs 500/ Instance

 

  • Duplicate Statement issuance charges:
  • Rs 500/ Instance

 

  • Duplicate Repayment Schedule issuance charges:
  • Rs 500/ Instance

 

  • Duplicate No Dues Certificate / NOC:
  • Rs 500/ Instance

 

  • Penal Interest:
  • 2% per month

 

  • Loan cancellation / Re-booking:
  • Rs 500/ instance

 

  • Stamp Duty:
  • On Actuals

 

  • Issuance of Credit Report:
  • Rs 50/ Instance

 

  • Foreclosure Charges:
  • 4% for the entire tenure

 

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