
AXIS Bank- Tractor Loan
AXIS tractor loan help farmers and business owners to buy tractors easily. With this loan, you can finance the purchase and pay it back in small, manageable amounts. The AXIS tractor loan EMI calculator helps you check your monthly payments, making it easier to plan.
The AXIS tractor loan interest rate is competitive, with flexible repayment terms, including options for up to 5-7 years. By using the AXIS tractor loan calculator, you can check the EMI based on your budget, ensuring the loan is affordable and fits your financial needs.
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About AXIS Bank Loan/Finance
Are you a farmer or business person looking to buy a tractor to ease your workload? The AXIS Bank Tractor Loan is here to help! AXIS offers financing options that cover up to 90% of the tractor’s value, making it easier for you to purchase without paying the full cost upfront.
With a AXIS Tractor Loan, you can buy new or used tractors at competitive interest rates, and less land mortgage is needed. You’ll also enjoy flexible repayment terms, insurance coverage, and a choice of tenures. Tractor Junction aims to support farmers and business owners, helping you invest in a vehicle that powers your work and success.
What Do Farmers Need to Get a AXIS Tractor Loan?
When applying for a AXIS Bank tractor loan, farmers must meet certain requirements to increase their chances of approval. Understanding these key factors can help simplify the process. Check the things farmers need to have to successfully obtain a tractor loan, including land ownership, income proof, and necessary documentation.
- Land Ownership: Farmers must own land to qualify for a AXIS Bank tractor loan. Without owning land, the chances of getting a loan are low, as this is a key requirement for all banks. Under the AXIS tractor loan schemes, farmers can receive 70-90% of the loan based on these factors.
- Land Verification: Farmers need to provide documents proving ownership of their farming land. This verification process ensures eligibility for the loan, as required by most banks, including AXIS tractor loan interest policies.
- Monthly Income Proof: Proof of regular monthly income is necessary to show that farmers can repay the loan. Banks use this to determine loan approval.
- CIBIL Score: A CIBIL score is mandatory to secure a AXIS Bank tractor loan. Even if farmers have a low credit score, they can still apply for loans. However, maintaining timely repayment is crucial to improving their standing. While a lower score may be accepted, having a better CIBIL score significantly increases the chances of obtaining a lower interest rate on the loan.
- Old Tractor or Additional Business: Farmers who own an old tractor or have another business can qualify more easily for loans, improving their chances of loan approval.
- Documentation: Proper paperwork is crucial, but banks like AXIS Bank offer easy documentation processes, making it simpler for farmers to get up to 90% of the loan amount.
- EMI Interest Rate: The interest on AXIS tractor loans can vary depending on how often it is calculated. It may be calculated monthly, quarterly, or yearly. This means that the total interest paid on the loan will be different depending on the chosen payment schedule.
What is AXIS Tractor Loan EMI Calculator
The AXIS Tractor Loan EMI Calculator is a handy online tool that helps you estimate your monthly payments. By entering the loan amount, interest rate, and loan tenure, the calculator provides an accurate EMI figure to help you plan your finances.
With the AXIS tractor loan calculator, you can adjust the loan amount and tenure to find a repayment option that works best for your budget. It’s a smart way to ensure you can comfortably manage your payments before applying for a 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 |
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