Tractor Loan

Tractor Loan - Apply Now!

A substantial part of India lives in its villages and a major portion of our population is engaged in agriculture related activities. Therefore, the rural and semi urban regions witness huge demand for finance from buyers of tractors, harvesters and other farm equipment. The tractor is the most important part of farm equipment portfolio with transplanters, rotovators, micro-irrigation systems, etc being the others. In spite of an increasing number of farmers adopting mechanized farming methods, the level of farm mechanization remains lower than 40 percent thereby offering huge scope for offering accessible finance.

Features

Products

• New Tractor
• Used Tractor
• Refinance on existing tractor

Loan Offerings

• Customized loans based on land holdings.
• Quick sanction / disburstment within 24 hours.
• Digtized and paperless journey.

Funding

• Upto 95% funding

Repayment Tenure

• Upto: Farm Equipment - Max Tenure - New Tractor - 6 Years

  Upto: Farm Equipment - Max Tenure - Used Tractor - 4 Years

  Monthly/Quarterly/Half yearly. Repayment options based on crop cycle and harvesting patterns.

Eligibility Criteria & Income Proof

• Income proof to support repayment of loan Minimum Land holding of 2 acres based on the crops cultivated (excluding our "Fastrac” and “Commercial” program)
• For Applicant: Minimum: 18 Years & Maximum: 60 years.
• For Co-App/ Guarantor: Minimum: 18 Years & Maximum: 70 Years.

Documents Required

• ID proof: Aadhar/PAN card
• Address proof: Voter's ID card/Driving License/Passport
• Land ownership proof: Land documents