Green Trac
Green Trac loan by KVB 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.
Features and Benefits
- Tractor loan is eligible for 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.
Terms and Conditions
- Disbursal will be direct to the dealers.
- The loan will be granted at the sole discretion of the bank.
Charges and Limits
| Loan Amount | Cost of tractor and implements 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. |
| Rate of Interest (floating) per annum | One year MCLR + 0.35%. |
Note: For details of Processing Charges & Other Charges, prospective customers are requested to contact nearby branches.
