Stree Shakti Tractor loan (Mortgage free)

Features and Benefits
  • MORTGAGE FREE!!

  • Lowest interest rate

  • Sanction your tractor loan within 3 days only

  • Monthly repayment facility

Eligibility
  • Borrower/ co-borrower should be women

  • Minimum 2 acres of agricultural land in the name of borrower(s)

  • Minimum annual income of borrower(s) should be Rs. 1,50,000 /- from all sources

Collateral Security
  • NIL

Margin
  • 25% for tractor on original invoice and taxes

  • 50% for accessories

Rate of Interest

11.20%. p.a, w.e.f 01.05.2016

Processing charges and fees
Description of charges
Charges Applicable

Pre payment

NIL

Processing fee

1.25%

Part payment

NIL

Duplicate No due certificate

NIL

Late payment penalty

1% p.a on unpaid installments

Failed SI (per SI)

Rs. 253/-

Failed EMI (Per EMI)

Rs. 562/-

Repayment period

36 months with 1 month moratorium ( Click here for EMI Calculator )

Documents required
Pre sanction
  • Duly filled in application form

  • 3 latest passport size photographs

  • Identity proof- Voter ID card, PAN card, Passport, Aadhaar card

  • Address proof: Voter ID card, Passport, Aadhaar card

  • Documentary proof of land

  • Income proof (Certificate from revenue authority)

  • Quotation of tractor issued by dealer to customer

Pre disbursement
  • Duly executed loan documents

  • 6 Post Dated Cheques.

Post disbursement
  • RC book with hypothecation charge in favor of SBI

  • Original invoice/bill issued by dealer to the customer

  • Comprehensive insurance copy

How to apply

Contact your nearest branch engaged in Agricultural advance for application and further details