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Farm Mechanization
Improving efficiency in farm operations and assisting the farmers for adapting improved scientific agronomic practices
Disclaimer
By clicking the link you will be redirected to the website of the third party. The third party website is not owned or controlled by Bank of India and contents thereof are not sponsored, endorsed or approved by Bank of India. Bank of India does not vouch or guarantee or take any responsibility for any of the contents of the said website including transactions, product, services or other items offered through the website. While accessing this site, you acknowledge that any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk and consequences.
The Bank of India and its affiliates, subsidiaries, employees, officers, directors and agents shall not be liable for any loss, claim or damage whatsoever including in the event of deficiency in the service of such third party websites and for any consequences of error or failure of internet connection equipment hardware or software used to access the third party website through this link , slowdown or breakdown of third party website for any reason including and resulting from the act or omission of any other party involved in making this site or the data contained therein available to you including for any misuse of the Password, login ID or other confidential security information used to login to this website or from any other cause relating to your access to, inability to access, or use of the site or these materials in accordance thereto Bank of India and all its related parties described hereinabove stand indemnified from all proceedings or matters arising thereto.
By preceding further to access the said website it is presumed that you have agreed to the above and also the other terms and conditions applicable.
- Longer repayment terms.
- Attractive Rate of interest
- No Collateral for loan upto Rs.1.60 lacs
- Loan available upto 85% of cost of new machinery.
TAT
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| Upto Rs.160000/- | Above Rs.160000/- |
|---|---|
| 7 business days | 14 business days |
* TAT will be counted from the date of receipt of Application (complete in all respects)
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
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.
Quantum of Finance
As per cost of the vehicle / equipment
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
- Farmer or group of farmer, JLG, FPO/FPC.
- Minimum Land holding required for availing the finance is given below:
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| Land | Tractor | Power Tiller | Combined Harvester | Other Farm Machinery | Repair Loan |
|---|---|---|---|---|---|
| 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. | Land is considered as per the requirement of respective machinery |
| 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. | Land is considered as per the requirement of respective machinery |
Note: The finance will also be considered in combination of irrigated and unirrigated land (1 acre Irrigated land= 2 acre Unirrigated land to be considered
For Second Hand (Old) Machinery:
*The Period considered is from date of registration with RTO, if applicable.
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| *Period | Tractor | Power Tiller | Combined Harvester |
|---|---|---|---|
| Old vehicle | Upto 3 years | Upto 2 years | Upto 2 years |
Before applying you must have
- KYC documents(identity proof and address proof)
- Proof of landing holding
- Quoatation of machinery.
- Collateral Security for loans above Rs.1.60 lacs.
*Terms & Conditions apply. For further details, Please contact your Nearest Branch
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