This loan is for the purchase of a tractor or power tiller. With the purchase of tractors and tillers 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 and impliments minus the margin.|
|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 out of Bank Finance.|
|Collateral Security||100% of the loan amount.|
|SCHEME||ROI (floating) p.a.|
|KVB Green Trac (Margin 20%)||One-year MCLR + 0.85%|
For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches
- Disbursal will be directly to the dealers.
- The loan will be granted at the sole discretion of the bank