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New Tractor Finance
Used Tractor Finance
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Birth year :*
Finance Amount :*

Finance Documentation & Eligibility

The 5075E comes equipped with a 2.9 Liter (179 cu in) engine producing 75 horsepower @ 2,400 rpm.

  • No. Of Cylinder are 3
  • Air Filter are DRY AIR CLEANER
  • Capacity CC are 2400
  • Fuel Tank capacity are 47 lit
  • Warranty are 2100 HOURS OR 2 Yr

Finance Scheme

Ess Kay Finance- Agriculture Equipments Loan


tractor Loan:- We Offers Ea...

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Ess Kay Finance- Agriculture Equipments Loan

Tractor Loan:-
We offers easy and hassle free tractor loans for first time buyers/tractor owners with attractive interest rates. With consistent best services we have major market share in Tractor Re-finance/Used tractor finance.

Key Features:-
•    Loans for all brands of tractors Whether New or Used tractors.
•    Services at your doorstep.
•    Convenient and easy repayment options.
•    Repayment period up to 5 years
•    With quick sanction and disbursement process ensuring best services in industry.
•    Special offers for customers having excellent repayment history.
•    Strong presence in semi-urban and rural India with wide network of Branches.
Benefits:-
•    Hassle free documentation and easy processing.
•    Fixed Rate of Interest throughout the tenure and offering attractive interest rates without any hidden charges.
•    Caters to all segments ie, farmer & non farmer.

 

HDFC Bank - Tractor Loans


why Take A Tractor Loan From Hdfc Bank? w...

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HDFC Bank - Tractor Loans

Why take a Tractor Loan from HDFC Bank?

Whatever be your need we have a loan for you. Over the years we have won the trust of our customers and have become market leader in loan products. 

Enjoy triple benefits when you take a Loan from HDFC Bank:

  • Faster loan - Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
  • Competitive pricing – Our loan rates and charges are very attractive
  • Transparency – All charges are communicated up front in writing along with the loan quotation

Features and Benefits of Tractor Loans

Do you want to upgrade your farming vehicle but are short of funds? Are you looking for tractor loans that can give you maximum funding at great rates of interest? Choose HDFC Bank's Tractor Loan to fulfill your agricultural needs.

  • Tractor Brand: Were you thinking of buying a tractor for getting better yields of crop? Go right ahead. As far as your chosen tractor is made by any reputed tractor manufacturer in India, it will be eligible for a loan.
  • Loan amount: Are you looking to maximize funding options for your tractor purchase? You can get as much as 90% finance on your favourite tractor through this loan.
  • Repayment: Pay back your loans within a period of 12 to 84 months. You can use post dated cheques (PDC) or cash collection as preferred repayment methods.
  • Quick processing: We are known for our speedy processing times and hassle free documentation.
  • Tractor Plus: You can get finance on the first year or combined finance on the first, second and third year along with motor insurance premium with Credit Shield. What is "Credit Shield" you ask? It means that we will cover the insurance for accidental death or permanent total disability of the customer along with amount equivalent to the outstanding in loan account. Get in touch with us to know more about this scheme NOW!

Eligibility and Documentation of Tractor Loans

Get details on eligibility criteria & documents required for HDFC Bank Tractor Loans

Both farmers and non-farmers can apply for this loan. Their eligibility criteria are as follows:

FARMER NON FARMER
  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant should be 60 years on the date of funding
  • Income should not be less than Rs. 1.00 lakh per annum
  • Minimum 3 acres of agricultural land required
  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant should be 60 years on the date of funding
  • Income should not be less than Rs. 1.50 lakh per annum
  • A Telephone (Owned / PP Land line or Mobile) is mandatory

The documents required for getting a Tractor Loan are as follows:

FARMER NON FARMER
  • Proof of Identity: Passport Copy / PAN card/ Voter's ID / Driving licence / Self affidavit with photograph of customer and signature across duly notarised / Photocopy of the bank pass book front page giving name, address photograph of the customer attested by the bank / photo of customer attested by the banker on a separate paper.
  • Latest Land Records: They should not be more than 3 months old.









  •  
  •  
  •  
  • Address Proof: Copy of land extracts / ration card / Akarni Patrak / Property card / tax receipt /Talati or Patwari or VAO certificate certifying that the applicant is a resident of the village is required.

  • Signature Proof: Copy of driving licence / Copy of PAN card / self affidavit with photograph of customer and signature across duly notarised / Present Banker verification Bank statement for last 6 months if available
  • Proof of Identity: Passport Copy / PAN card/ Voter's ID / Driving licence / Photocopy of the bank pass book front page giving name , address photograph of the customer attested by the bank / photo of customer attested by the banker on a separate paper.






  •  
  •  
  •  
  • Bank statements: Bank statements of last 6 months, a copy of repayment track for vehicle (not older than 1 year) , income papers i.e. IT returns / Contract papers ,copy of work/transport contracts, if any, are required.

  • Address Proof: Electricity bill / municipal tax receipt / Society bill / Agreement Copy / telephone bill will suffice.







  •  
  •  
  •  
  • Signature Proof: Copy of driving licence / Copy of PAN card / Present Banker verification. A certified true copy of partnership deed / Memorandum & articles of association will be required in case of partnership firms and limited companies respectively.

 

Tractor Loans Interest Rates & Charges

Enclosed below are HDFC Bank Tractor Loans Interest Rates & Charges

Here is an exhaustive list of all the fees and charges to be paid for the Tractor loan:

Description of charges Tractor Loans
Processing Fee 2% of Loan Amount


Service Tax and other Government levies, as applicable, would be charged additionally at the applicable rates.

Pre-payment Charges - 4% if before 12 months from date of disbursement 
- 2 % if after 12 months from the date of disbursement


Service Tax and other Government levies, as applicable, would be charged additionally at the applicable rates.

Duplicate No Due Certificate / NOC* Rs. 500/- per instance
Duplicate Amortisation Schedule Charges* Customer can download the schedule from NetBanking free of cost. Rs. 200/- per schedule would be charged at Customer Service desk.
Cheque/ ECS Swapping Charge* Rs. 500/- per instance
Cheque/SI/ ECS/Installment Return Charges Rs. 550/- per instance


Service Tax and other Government levies, as applicable, would be charged additionally at the applicable rates.

Documentation Charges (for Agri Mortgage Cases) Rs.1500/-


Service Tax and other Government levies, as applicable, would be charged additionally at the applicable rates.

Part Payment Charges 4% if before 12 months or 2% after 12 months from date of disbursement on the principal to be repaid


Service Tax and other Government levies, as applicable, would be charged additionally at the applicable rates.

Loan Rebooking  Charges* Rs.1000/-
Collateral Charges Rs.300/-


Service Tax and other Government levies, as applicable, would be charged additionally at the applicable rates.

Stamp Duty At actuals
Late Payment Penalty 2% per month on unpaid installments
Legal, Repossession & Incidental charges At actuals
CIBIL Charges (only on request) Rs. 50/- inclusive of Service Tax
Loan Cancellation Charges In the event of cancellation, interest on cancellation to be paid by  customer, Rs. 1000/- along with processing fees and stamp duty

Average Rates offered to customer during the period of Apr'16 to June'16

Bank IRR
Min IRR Max IRR Avg IRR
13.60% 21.95% 16.49%

Average Annual Percentage Rate offered to customer during the period of Apr'16 to June'16

APR
Min APR Max APR Avg APR
13.70% 22.94% 16.84%

* Exclusive of Service Tax

FAQ

 

Do you want to repay the loan earlier than the due date?

If you want to repay your loan earlier than the due date, feel free to do so.

Can I pre-pay the entire loan amount?

Yes, you will have to pay a pre-payment fee of 4% if you pay your entire loan before 12 months from the date of disbursement. You will have to pay a pre-payment fee of 2 % if you pay your loan after 12 months from the date of disbursement.

Is a guarantor required?

You will require a guarantor in all cases except certain segments where you have offered agricultural land as additional collateral.

Can I get a tractor loan for any tractor I want to purchase?

If your tractor is made by a leading automobile manufacturer in India, you can get a loan.

Who is eligible for a tractor loan?

Whether you are a farmer or not, you can avail HDFC Bank's Tractor loan for agricultural or commercial purposes. If you are a farmer, you must have a minimum of 3 acres of agricultural land.

SBI Bank- NEW TRACTOR LOAN SCHEME


purpose agricultural Term Loans Are Sanct...

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SBI Bank- NEW TRACTOR LOAN SCHEME

Purpose

Agricultural term loans are sanctioned for purchase of new tractors, accessories and implements

Eligibility

Any individual or group of individuals i.e., JLGs/SHGs, institution or organization are eligible for finance which will have sufficient and regular income either from own farm activity or custom hiring incomes from the tractor proposed to be purchased and its accessories. Borrower should possess a minimum land holding of 2 Ac.

Margin

Minimum of 15%.

Primary security

Hypothecation of Tractor & Accessories.

Insurance:

The tractor and accessories purchased with bank¬Ěs finance have to be comprehensively insured for the full value.

Collateral Security

Mortgage of landed property valued equivalent of 100% of loan value.

Interest

12% p.a.

For prompt repayment, further concession of interest @1.00% by way incentive will be extended to the borrower and 0.50% to the tractor dealer. Concession will be extended in the month of july and will be on the basis of interest recovered between 1st July to 30th june of every year.

Upfront fee

0.5% of loan amount has to be charged as upfront fee.

Repayment

Loan is repayable in equated monthly installments in 5 years, including grace period of 1 month. (Relaxed in tune with the regular flow of funds in the hands of the borrower).

Postdated cheques will be obtained from the borrower for the EMI

EMI per Rs 1 lakh Rs 2225

ICICi Bank- Tractor Loan


icici Bank Offers Easy And Hassle Free Tractor Loan...

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ICICi Bank- Tractor Loan

ICICI bank offers easy and hassle free tractor loans for first time buyers/tractor owners having agricultural land.

Benefits

  • Easy loan procedure
  • Quick processing
  • Repayment period up to 5 years
  • Flexible repayment options
  • Fixed Rate of Interest throughout the tenure
  • Non- mortgage loan available
  • Low processing fee
  • low Interest Rate

Eligibility

  • Minimum 3 acres of land in the name of borrower
  • Agriculture income is being considered for eligibility calculation
  • Commercial Income is being considered for commercial segments

Documentation

Pre Sanction Documents

  • Filled in application form
  • Two latest photograph of all borrowers
  • Proof for signature verification - Passport/ Driving licence/ Pan card / Bank's verification
  • Identity proof
  • Address proof
  • Constitutional documents 
  • Quotation of tractor issued by dealer to customer
  • Proof of land holding 
  • Land valuation report from empanelled valuer (wherever applicable)
  • Past loan track record of the customer (wherever applicable)

Pre Disbursement Documents

  • Duly executed loan documents 
  • Original Invoice issued by Dealer to customer 
  • Title Search Report from empaneled lawyer (wherever applicable)
  • Margin Money Receipt ( Issued by the dealer to the customer as a token of acceptance to the margin money paid ) 
  • Mortgage Deed in case of registered mortgage (wherever applicable)
  • Comprehensive Insurance Hypothecated to ICICI Bank 
  • Proof of acknowledgment from Sub-Registrar along with declaration from lawyer that he has created charge along with proof of charge creation (wherever applicable)

Service Charges and Fees for Tractor Loans

Description of Charges Charges applicable
Pre Payment Lower of the two options mentioned below:
1) 4% of principal outstanding or 
2) Interest outstanding for unexpired period of loan
Processing fees Up to 4 %
Part Payment Nil *
Duplicate No Due Certificate / NOC* Rs 500 inclusive of Service Tax
Revalidation of NOC charges Rs 500 inclusive of Service Tax
Duplicate Amortisation Schedule Charges* Can be downloaded through Net Banking, Rs 200 from branch
Swapping charges for ECS/Cheque/SI Rs 500 inclusive of service tax
Stamp Duty At actuals
Late Payment Penalty 2% per month on unpaid installments
Legal, Repossession and Incidental charges Incidental charges are those expenses that are not budgeted or specified, but are incurred by the bank on behalf of the customer. At actuals
Loan Cancellation Charges In the event of cancellation, interest on cancellation to be paid by  customer, Rs. 1,000 along with processing fees
Cheque bounce charges Rs 250 inclusive of Service Tax
Statement of account Rs 200 from branch inclusive of Service Tax
Foreclosure statement charges Rs 100 from branch inclusive of Service Tax

 

Notes:

 

1) Service Tax and other Govt. taxes, levies etc. applicable as per prevailing rate may be charged over and above these charges at the discretion of ICICI Bank.

2) The charges or fees given above are subject to change and the one recorded in the agreement will be binding over the above

3) Effective for loans availed from August 10, 2009. For loan availed prior to the said date, the cheque return charges is Rs. 200

4) Interest Reset Clause: Applicable

 

Interest Rate Range for Tractor Loan

 

Type of credit facility Max Min Mean
Tractor / Paddy Harvester 19.30% 12.50%* 16.25%

 

Notes:

 

1) The range of interest provided above is with respect to individual loans disbursed during Quarter II - FY: 2016

2) The rate of interest is also based on the quality of assests being funded and its resale value in the market

3) It excludes subsidy and government schemes

4) Mean rate - Sum of the rate of all loan accounts / Number of loan accounts

Annual Percentage Rate (APR) calculation

The Annual Percentage rate calculator is provided to compute annualised credit cost, which includes interest rate and processing fee.

The APR calculator does not include charges like stamp duty, Prepayment charges etc.

AXIS Bank- Tractor Loan


axis Bank Brings To You Easy And Hassle Free Tracto...

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AXIS Bank- Tractor Loan

Axis Bank brings to you easy and hassle free Tractor Loans. We realize how imperative tractors are to your livelihood and so, with our Tractor Loans, you are assured one of the best deals in the market along with a range of attractive features:

Key Features

  • Zero foreclosure charges*
  • Flexible repayment options
  • Special interest rate for farmers with multiple sources of income
  • Repayment period up to 7 years
  • Quick processing and doorstep service

Eligibility

  • Minimum age of applicant should be 21 years.
  • Maximum age of applicant should be 75 years as on date of funding.
  • Minimum 3 acres of land holding for farmers.

Required Documents

Documents Valid Documents
Proof of Identity Copy of Passport 
Copy of PAN Card 
Copy of Voter's ID 
Copy of Driver’s License 
Copy of front page of bank pass book giving name, 
address, photograph of the customer attested by bank 
Address Proof Copy of Land extracts 
Copy of Ration Card 
Copy of Passport 
Signature Proof Copy of Driver’s License 
Copy of Passport 
Copy of PAN Card 
Age Proof Copy of Driver’s License 
Copy of Passport 
Copy of PAN Card 
Proof of Land Ownership Land Ownership documents

Schedule of Charges

Type Charges
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
Late repayment penalty 2% per month
Loan cancellation / Re-booking Rs 500/ instance
Stamp Duty On Actuals
Issuance of Credit Report Rs 50/ Instance

 

KOTAK Mahindra Bank


we Offer Finance For Purchase Of New And Old Tracto...

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KOTAK Mahindra Bank

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

  1. Loans for purchase of new tractor / Old tractor (Mortgage & non-mortgage loans)
  2. Balance Transfer
  3. Top-Up loans
  4. Service at your doorstep
  5. Avail life insurance shield - Kotak Kisan Suraksha
  6. Quick and hassle-free process
  7. Minimum documentation
  8. Excellent after sale service
  9. Attractive rates of interest

To know more about our products and services, call our Customer Contact Center on toll free number1 1800 209 5600 Pan India.

MAGMA FINCORP - TRACTOR LOANS


magma Fincorp Tractor Loan Offers

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MAGMA FINCORP - TRACTOR LOANS

MAGMA FINCORP TRACTOR LOAN OFFERS

  • Loans for all brands of tractors.
  • Loans for used tractors also.
  • Highest tractor loan disbursement amount in the market.
  • Tractor Loans upto 90-95% of the tractor price.
  • Loans to farmers living even in deep rural areas of the country, where other financiers have not ventured out.
  • Magma Fincorp provides Tractor loans in many states across India such as in
    Andhra Pradesh, Telangana, Tamil Nadu, Maharasta, Punjab, Uttar Pradesh, Madhya pradesh, Rajasthan, Karnataka, Kerala, West bengal, Orissa, Jharkhand, Bihar, Gujarat, Haryana & More.
  • For more detail fill up the form in this page and we will get back to you at the earliest.

MAGMA FINCORP PROMISES TRACTOR LOANS

  • Flexible tractor loan documentation
  • Loans available for farmers based on land holdings.
  • Loans from marginal to high-end farmers (based on land holdings)
  • Loan repayment options in monthly, quarterly, or half-yearly cash installments and Security Post Dated Cheques.
  • Fresh loans without land holding documents for existing Magma tractor loan customers with good repayment records for 12 months or more.
  • Affordable Tractor loan interest rates

ELIGIBILITY

AGRICULTURAL SCHEME

  • Minimum of 2 acres of land ownership required
  • Guarantor required
  • Tractor Loans are disbursed based on land holdings – higher the land holding, higher is the loan amount

TATKAL SCHEMES

  • No guarantor required
  • No land ownership documents required

COMMERCIAL USE SCHEME

  • Property ownership documents required
  • Residence stability of 3 years required
  • Guarantor required

    LOANS INTEREST RATE & CHARGES

    TRACTOR LOAN INTEREST RATE

  • Our Interest Rates of Tractor Loan vary from 16% to 20% depending on a host of factors. Magma has customized schemes to meet the needs of the customer
  • Foreclosure Charges

  • 5% of the Principal Outstanding for pre-closures beginning 6 months after date of agreement
  • No foreclosure allowed within 6 months from date of availing the tractor loan
  • LATE PAYMENT PENALTY

  • 3% per month

Mahindra Finance- Tractor Loans & Agriculture Equipment Finance


features & Benefits

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Mahindra Finance- Tractor Loans & Agriculture Equipment Finance

Features & Benefits

  • Repayment for tractor loan is based on cash flows i.e. monthly/quarterly and half yearly (asset becomes loan free in five years)
  • Quick disbursal within two days after loan approval
  • Available for a wide range of tractors
  • Stress-free loan sanction without mortgaging of land
  • Easy and flexible documentation

Eligibility:

We cater to all segments of customers owning a tractor or planning to own one.

Documents required:

  • KYC Documents
  • Income proof to support repayment of loan

Dena Bank - Tractor Loan


bank Is Having Tie-up Arrangement With Various Trac...

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Dena Bank - Tractor Loan

Bank is having tie-up arrangement with various tractor manufacturing companies for retail financing of tractors under Dena Bank Tractors Agri Finance Scheme. Under these tie -up arrangements, the companies are providing cash discounts / extended warranty periods to the farmers. 

 

Induslnd Bank


empowering The Farmers To Take Timely And Sound Fin...

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Induslnd Bank

Empowering the farmers to take timely and sound financial decisions, IndusInd Bank presents Indus Kisan- a Direct Agri Funding Product for the smart farmer. This product will enable farmers to acquire short-term and long-term credit through single window system for agricultural and allied activities. The loans obtained through this product would be secured and would be extended on basis of agriculture land holding and investment needs. 
 

Bank Of Baroda- Tractors and Heavy Agricultural Machinery


agriculture Being The Back Bone Of The Indian Econo...

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Bank Of Baroda- Tractors and Heavy Agricultural Machinery

Agriculture being the back bone of the Indian Economy, Bank of Baroda has contributed significantly in accelerating the pace of rural development by providing finance to farmer.

The mode of finance covers activities for:

  • purchase of new tractor,
  • tractor drawn implements,
  • power tiller and other agriculture machines etc.
  • Purchase of -4- wheeler (Jeep, Station wagon, SUV etc.) to Farmers for Own Use

Eligibility:
Progressive, literate and illiterate farmers engaged in cultivation of crops as owner of land, permanent tenants or leaseholders (for reasonably long period) and who utilize the tractor/ machinery economically to the minimum extent of 50% on their own land holding.

  • Should have perennially irrigated land of 4 acres ( tractors to farmer with land holding below 6 acres of irrigated land is considered for tractors with horse power upto 35 hp)..
  • Should cultivate high value commercial crops such as sugarcane, grapes, bananas & vegetables.
  • Should have progressive outlook in adoption of improved farm practices and modern agriculture technologies.

Nature Of Facility: Term loan

Repayment Schedule
Repayment period is fixed on quarterly/ half yearly or annual basis, based on income generation from crops taken and off farm activities of the farmer. The maximum repayment period is 9 years for tractors and 7 year for power-tiller.

Central Bank Of India


 to Finance Purchase Of Tractors, Trailers And...

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Central Bank Of India

 To finance purchase of Tractors, Trailers and other agricultural implements and accessories.

Tractor Scheme

 

1

Purpose

*      To finance purchase of Tractors, Trailers and other agricultural implements and accessories.

2

Eligibility

*      Individuals, Partnership firms, companies, FSS, PACs engaged in agriculture and / or allied activities and having land holding of 8 acres of perennially irrigated land or 16 acres of dry land cultivating single crop in a year or 4 acres of irrigated land and cultivating minimum two crops in a year.

3

Nature of facility

*      Term Loan

 

4

Margin

*      20%

 

5

Security

*      Primary

 

 

*      Collateral

-    Hypothecation of Tractor and other assets created out of Bank finance

-    Hypothecation of crops

-    Mortgage/charge on agricultural land

Total value of primary and collateral security should be at least 200% of the loan amount.

6

Insurance

*      Assets created out of loan have to be insured for full value.

7

Interest Rate

Limit upto Rs.50,000/-

Above Rs.50,000/- upto Rs.5.00 lacs

Above Rs.5.00 lacs upto Rs.25.00 lacs

Above Rs.25.00 lacs

Base Rate + 0.50%

Base Rate + 1.00%

Base Rate + 1.50%

Base Rate + 2.00%

8

Processing Charges

*      Upto Rs.25,000/-  : Nil

*      @ Rs.120/- per lac or part thereof, maximum Rs.20,000/-.

9

Documentation Charges

Nil

10

Repayment

*      Within 7-9 years.

         

 

For further details, please contact our nearest branch.

Sundaram Finance Group= Tractor Finance


finance For New And Used Tractors, Combined Harvest...

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Sundaram Finance Group= Tractor Finance

Finance for new and used tractors, combined harvesters and other farm implements for all categories across manufacturers atattractive interest rates!

The entire process is transparent. Our experienced staff will gladly guide you through every step of buying a new tractor.

What do you enjoy out of this?

  • Quick documentation
  • Speedy Approval
  • Tailor – made repayment structure
  • Attractive interest rates
  • All this supported by excellent customer service, is sure to make your experience with us, a pleasant one.

All this supported by excellent customer service, is sure to make your experience with us, a pleasant one.

Who can avail a Tractor loan?

  • Farmers
  • Contractors

Re-payment:

Monthly, Quarterly and Half Yearly repayment is available. The frequency is custom made to suit the borrower in order to map it with his income / cash generation.

Add-on benefits:

Insurance Finance:

We also offer customisable insurance options for your tractors. It is an add - on facility for fresh insurance and renewals. 90% of the insurance premium is extended as loan and is repayable in 4 or 6 easy instalments.

Tyre Finance:

This easy finance option lets you purchase tyres on credit for your tractors, and thereby eases your cash flow.

Fleet Card:

The Fleet card is an effective fuel management tool that provides customers an efficient way of purchasing auto fuels like diesel and lubricants for your tractors.

Sundaram Credit Protect:

The Life Insurance cover with affordable premium charges and easy procedures for individuals and proprietors who have availed tractor loan from us. This covers natural and accidental death of the borrower applicable from the date of agreement.

Terms & Conditions Apply.

Hurry! Contact your nearest branch from our vast network of 577 branches in India or write to wecare@sundaramfinance.into own your own tractor!

Oriental Bank Of India


scheme For Purchase Of Tractor...

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Oriental Bank Of India

Scheme for purchase of Tractor

Eligibility Criteria :

An individual, joint co-borrower, HUF proprietorship partnership (P) Ltd. , Ltd. Companies, Cooperative Society, Trust are eligible under the scheme who have minimum 2.5 acres of agriculture land with permanent source of Irrigation for minimum in two crops in a year and borrowers are non-defaulter of any financial institution.

It can be considered by taking into account the assets utilization for a minimum of 1000 hours of productive work per year on own farm and custom hiring.

Amount of Loan:

90% on the invoice value of Tractor & implements.

Security :

Hypothecation of tractor along with implements if applicable. Mortgage of agriculture land to secure the advance adequately or Third party guarantee acceptable to bank.

Margin Money :

10% of total value of tractor and implements.

Rate of Interest  :

up to 2.0 lac - BR+2.25%                       

Rs. 2.00 lac to 5.00 lac- BR+3.00%

Above 5.00 lac - BR+3.50%

The entire loan shall be repaid in half yearly installments 5 - 9 years. 
Gestation period/moratorium period : minimum 6 months & maximum 18 months.

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