New: For Purchase of new Machineries such as tractor, power tiller, combined harvester and other farm machineries/implements like mould board plough, disc plough, cultivator, disc harrow, fertilizer spreader, seed cum fertilizer drill, trailer, chaff cutter, thresher, trolley, sprayer, duster, sugarcane crusher etc. New advanced machineries like soil testers, sensors, etc.
Old/Second Hand: Purchase of Second Hand Tractor, power tiller and combined harvester.
Individual Farmers having own land
Land | Tractor | Power Tiller | Combined Harvester | Other Farm Machinery |
---|---|---|---|---|
Irrigated | 2.5 acres or 1 ha. | 1.5 acres or 0.60 ha. | 6 acres or 2.40 ha. | 1 acre or 0.40 ha. |
Unirrigated Land | 5 acres or 2 ha. | 3 acres or 1.20 ha. | 12 acres or 4.80 ha. | 2 acres or 0.80 ha. |
As per cost of the vehicle / equipment
Loan upto Rs.1.60 lakh
Loan above Rs.1.60 lakh
New | Second Hand | Repair | |
---|---|---|---|
Margin | 15% of total cost | 40% of assessed value | 30% of repair cost |
Interest Rates as decided by the Bank from time to time.
Type of Machinery | Tractor | Power Tiller | Combined Harvester | Other Farm Machinery | *Repair Loan |
---|---|---|---|---|---|
New | Max 9 years | Max 7 years | Max 9 years | Max 5 years | Max 3 years |
*Second Hand | Max 4 Years | Max 3 Years | Max 5 Years | No Finance | No Finance |
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