Bank offers easy and hassle free tractor loans for first time buyers/tractor owners having agricultural land.
Tractors are quick, flexible, hassle-free, and ideal for carrying out daily duties that keep the farm functioning. Avail a tractor loan to fund the purchase of a new tractor and other agricultural equipment with Farm Equipment Finance.
Whether it is for agriculture or commercial use, a tractor loan will help you meet your financial requirement. Bank offers the best customised tractor loans at attractive interest rates and a flexible repayment tenure based on your cash flows i.e. monthly/quarterly/half yearly. We provide new as well as used tractor loans with hassle free documentation and speedy disbursal. Our tractor loan can be used for both, personal as well as commercial use. You can use it to purchase a tractor, or any tractor related implements.
Agriculture Tractor Loan Documents
- Land Ownership Proof
- Address Proof: Aadhaar Card or Any one of Voter ID / Passport / Driving License
- 3 months bank statement
- CV 12 months track record
- Identity Proof: Aadhaar Card or Any one of Voter ID / PAN Card / Driving License / Passport
FAQ
The financed vehicle will be hypothecated to the bank and charges of the bank will be mentioned on the registration certificate of the vehicle. For mortgage cases, agricultural land of the borrower will be mortgaged in favour of the bank.
The financed vehicle will be hypothecated to the bank and charges of the bank will be mentioned on the registration certificate of the vehicle. For mortgage cases, agricultural land of the borrower will be mortgaged in favour of the bank.
The tractor loan amounts can be customized to suit your individual needs.
Yes, foreclosure is allowed with or without some penalty as per specific banks' rules and guidelines.
Yes, you can prepay the entire loan amount, but you will have to pay a pre-payment fee on outstanding loan amount.
It can be maximum of upto 90% of the bank approved price on the specific model of tractor.
The down payment is the amount that the borrower needs to pay out of his pocket. Actually, a down payment is a difference between the vehicle price and the tractor loan amount. The borrower can choose to make a higher down payment depending upon the finance option and his personal needs.