Tractor Finance

Tractor Loan from HDFC Bank

Key Features: Tractor made by any reputed tractor manufacturer in India, is eligible for a loan. Loans are processed speedily.

Eligibility Farmer: Minimum age of the applicant should be 18 years

Maximum age of the applicant should be 60 years on the date of funding

Income should not be less than Rs. 1.00 lakh per annum

Minimum 3 acres of agricultural land required

Non Farmer: Minimum age of the applicant should be 18 years

Maximum age of the applicant should be 60 years on the date of funding
Income should not be less than Rs. 1.50 lakh per annum
A Telephone (Owned / PP Land line or Mobile) is mandatory

Documents: KYC documents, Latest Land Ownership proof/Bank Statement and signature proof.

Loan amount: 90% finance on tractor price.

Repayment: Within a period of 12 to 84 months, by postdated cheques (PDC) or cash collection as preferred repayment methods.

Description of charges: Processing Fee: 2% of Loan Amount along with Service Tax of 12.36% over and above the Processing Charge

Pre-payment Charges: - 4% if before 12 months from date of disbursement and 2 % if after 12 months from the date of disbursement along with Service Tax of 12.36% over and above the Processing Charge