This loan is for the purchase of a tractor or power tiller. With the purchase of tractors and tillers at affordable loans you will add convenience to your farming activities.
- Tractor loan is eligible to both individuals and joint applicants.
- For the purchase of a tractor, the agriculturist should own not less than 3 to 5 acres of perennially irrigated land or corresponding acreage as prescribed.
- For the purchase of a power tiller the agriculturist should own between 2 and 3 acres of land.
- The loan can be used to purchase any model of tractors and accessories
- The guarantee for the loan as acceptable to the bank
|Charges and Limits|
|Loan amount||Cost of tractor minus the margin subject to maximum of Rs. 5 lakhs|
|Margin||Minimum of 20%|
|Rate of interest||CONTACT NEARBY BRANCH|
|Repayment period||5-7 Years|
|Primary Security||Hypothecation of the tractor & implements to be purchased by bank finance|
|Collateral Security||100% of the loan amount.|
For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches
- Disbursal will be directly to the dealers.
- The borrower shall be sent to the nearest KVB branch.
- The dealer will have to identify the borrower under credit parameters.
- The loan will be granted at the sole discretion of the bank