CentralBank of India-Rural Agri Banking
Central Bank Logo

Cent Farm Machinery Scheme

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.

Page Under Construction

Page Under Construction

(c) 2016 Central Bank of India. All rights reserved
You are visitor no.: 14756993