SCORING MODEL FOR TRACTOR LOANS
Agricultural term loans are sanctioned for purchase of new tractors, accessories and implements
Who are eligible for tractor loan?
Upto 85 % of the cost of the Tractor, trailer and accessories. The cost includes the Registration charges and insurance premium not exceeding Rs 15,000/-. Bank will finance only for those models of tractors which have completed the commercial test from organizations viz. Central Farm Machinery Training and Testing Institute (CFMTTI) Budni (Madhya Pradesh) or Farm Machinery Training and Testing Institute (FMTTI), Hissar.
How to repay the loan
Within a maximum period of 9 years, including a grace period not exceeding 12 months. The installments shall be payable half-yearly / yearly, coinciding with the harvesting and marketing period of the crops proposed to be grown by applicant/borrower.
How to apply for this loan
You may contact our nearest branch or talk to the marketing officers visiting your village.