FINANCING FOR COMBINE HARVESTERS

Purpose

Finance is given for the purpose of purchase of combined harvesters. Makes in the approved list of the bank will only be financed

Who are eligible?
a. For self propelled Combine Harvester
  • Farmers who are in a position to operate the Harvester successfully and owning minimum of 8 acres of irrigated land (corresponding acreage for other types of land).

  • Farmers owning lesser acreage than that prescribed above, are also eligible for availing combine harvester loans provided they could operate the harvesters successfully and generate sufficient income .Additionally they should provide additional collateral security like NSCs,Bank Fixed Deposits,LIC policies urban property etc to the value of at least 50% of the loan amount.

b. For Combine Harvesters as an attachment /equipment

Farmers who are in a position to operate the Harvester successfully and owning minimum of 6 acres of irrigated land (corresponding acreage for other types of land). They should own a tractor of not less than 50 HP . Farmers owning lesser acreage than that prescribed above, are also eligible for availing combine harvester loans provided they could operate the harvesters successfully and generate sufficient income, additionally they should provide additional collateral security like NSCs, Bank Fixed Deposits, urban property etc the value of at least 50% of the loan amount

Loan amount

Upto 85 % of the cost of combine harvester and accessories.

Security
  • Hypothecation of assets financed

  • Mortgage of land/buildings

How do you repay

Repayment of the loan will be in Quarterly/half yearly/yearly installments depending on the liquidity your activity creates and a maximum period of 9 years including gestation period for self propelled Combined Harvester or maximum period of residual economic life of the tractor owned which is assumed as 9 years,.

How to apply for this loan

You may contact our nearest branch or talk to the marketing officers visiting your village.