• Loans For Heavy Agricultural Machinery

Financing growth & transforming rural India.

Bank of Baroda, for rural India, with rural India.

Financing Tractors and Heavy Agriculture Machinery

  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Fees & Charges
  • Most Important Terms & Conditions (MITC)

Financing Tractors and Heavy Agriculture Machinery : Benefits

  • Processing charges Nil for Aggregate Loan upto Rs 3.00 Lakhs
  • Inspection charges Nil for Aggregate Loan upto Rs 3.00 Lakh
  • Low Land Requirement.
  • Low Margin Requirement
  • Repayment as per the income flow of borrower

Financing Tractors and Heavy Agriculture Machinery : Features

This Facility is available for

  • Financing Tractors and Heavy Agriculture Machinery:
  • Purchase of new tractor
  • Tractor drawn implements
  • Power tiller and other agriculture machines, etc.

Financing Tractors and Heavy Agriculture Machinery : Eligibility Criteria

  • Land Holding Criteria: Minimum 4 acres of irrigated land and above or corresponding acreage prescribed for different categories of land under state land ceiling act.
  • Tractor HP: Finance for tractor to farmers with land holding below 6 acres of irrigated land with horse power up to 35 HP only will be eligible.

Financing Tractors and Heavy Agriculture Machinery : Document Required

  • KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
  • Passport Size photo
  • Quotation/Invoice
  • Land Records
  • IT Return

Financing Tractors and Heavy Agriculture Machinery : Fees & Charges

Processing charges:

  • Aggregate Agriculture exposure of Rs. 3.00 Lakhs- Nil

For Term Loan

  • Above Rs 3 Lakhs - 1 % of the limit sanctioned with a maximum of Rs 100 lacs.

Inspection Charges:

  • Agriculture exposure upto Rs. 3.00 Lakhs- Nil
  • Above Rs 3 lakhs to Rs 10 Lakhs - Rs 250
  • Above Rs 10 Lakhs to Rs 1 Crore - Rs 1000
  • Above Rs 1 Crore - Rs 5000

Financing Tractors and Heavy Agriculture Machinery : Most Important Terms & Conditions (MITC)

Financing Tractors and Heavy Agriculture Machinery
Margin Minimum 25%
Repayment Period Linked with Land holding and maximum upto 9 years.
Rate of Interest
Limit upto Rs.3 Lakhs One year MCLR+ SP
Limit above Rs.3 Lakhs and less than Rs.25 Lakhs One year MCLR+ SP+ 1.25%
Limit Rs.25 Lakhs and above
Loan period less than -3- years One year MCLR+ SP+ 2.00%
For Loan period -3- years and above
3 years & above and upto 5 years One year MCLR+ SP+ 2.10%
Above 5 years and upto 7 years One year MCLR+ SP +2.15%
Repayment Capacity Quarterly/Half-Yearly/Yearly is to be granted depending upon the pattern of income flow of the farmer

Note : The Bank may use the services of agents in sales/marketing etc. of its various products

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