Tractor and Farm Equipment Loan
Tractor and Farm Equipment Loan Benefits
Tractor and Farm Equipment Loan Eligibility Criteria
Eligibility
- Age: 21 years till retirement age
- Salary: Minimum ₹1.2 Lakhs per annum
- Work Experience: Total at least 3 years. Minimum 1 year in current job
- Need for purchasing a Tractor to be explained
- Minimum 1 year in the same place of residence, if staying on rent
- Minimum 2 acres of agricultural land in the name of the applicant or in the name of close family member and he/ she shall be taken as ci-applicant for the loan
- Repayment to be given by way of Debit (Automated Clearing House) Mandates issued from the Bank account
Documentation
-
Income Proof :
- Last 6 months’ Bank statement
- Land documents
-
Other documents :
- Land documents
-
Documents for used vehicles
- RC copy with original verified seal
- Valuation report by the Bank’s empanelled vendor
- Vehicle inspection report by the Bank’s vendor
- Copy of insurance policy
- End use of loan proceeds
Eligibility
- Age: 21 to 65 years
- Salary: Minimum ₹1 Lakh as per IT returns
- Work Experience: Minimum 3 years in business
- Need for purchasing a Tractor to be explained
- Minimum 1 year in the same place of residence, if staying on rent
- Minimum 2 acres of agricultural land in the name of the applicant or in the name of close family member and he/ she shall be taken as ci-applicant for the loan
- Repayment to be given by way of Debit (Automated Clearing House) Mandates issued from the Bank account
Documentation
-
Income Proof :
- Last 6 months’ Bank statement
- Land documents
-
Other documents :
- Land documents
-
Documents for used vehicles
- RC copy with original verified seal
- Valuation report by the Bank’s empanelled vendor
- Vehicle inspection report by the Bank’s vendor
- Copy of insurance policy
- End use of loan proceeds
Other Loan
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