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.
- 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.
- Disbursal will be direct to the dealers.
- The loan will be granted at the sole discretion of the bank.
|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 + 0.85%.|
Note: For details of Processing Charges & Other Charges, prospective customers are requested to contact nearby branches.