|
Purpose
|
* To finance purchase of Tractors, Trailers and other agricultural implements and accessories.
|
|
Eligibility
|
* Individuals, Partnership firms, companies, FSS, PACs engaged in agriculture and / or allied activities
For Tractors-
Up to 35 HP New Tractor- 2.5 acre of perennially irrigated land or 5.00 acre of
non-irrigated land
Above 35 HP New Tractor- 4.00 acre of perennially irrigated land or 8.00
acres of non-irrigated land.
|
|
Nature of facility
|
* Term Loan.
|
|
Margin
|
* Upto 1.60 lakh-NIL
* Above 1.60Lakh- 20%
|
|
Security
|
* Primary
* Collateral
|
- Hypothecation of Tractor & implements.
- Hypothecation of crops.
- Up to Rs 1.60 lakh – NIL
-Above Rs 1.60 lakh –
Mortgage/Charge on land (Total value of collateral security should be at least 100% of the loan amount except for combine harvester for which colateral should be 150% of the loan amount).
|
|
Insurance
|
Assets created out of loan have to be insured for full value.
|
|
Rate of Interest
|
Upto Rs 3,00,000/-
Above Rs 3.00 lakh to Rs 10.00 lacs
Above Rs 10.00 lakhs upto s.100.00lacs
Above Rs 100.00 Lakhs
|
MCLR + 1.35%
MCLR + 2.50%
MCLR + 3.00%
As per rating of borrower
|
|
Processing Charges
|
Upto 25,000/- -NIL
Above Rs 25000/- to Rs 500.00Lakh- @ Rs 120/- per lac or part thereof, Maximum Rs 50,000/-.
|
|
Documentation Charges
|
Upto Rs 2.00Lakh- NIL
>Rs 2 Lakh to Rs 25.00Lakh- Rs 50/- per Lakh or part thereof Max Rs 1000/-
>Rs 25 Lakh to Rs 50Lakh- Rs 75/- per Lakh or part thereof Max Rs 3000/-
|
|
Repayment
|
*Within 5 to 9 years (including moratorium period of Max 12 months)
|
For further details, please contact our nearest branch.