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Norm
|
Description
|
---|---|
Product
|
Tractor Finance
|
Facility Type
|
Term Loan
|
Borrower Profiles
|
All Farmers and Agriculturists owning, cultivating agricultural lands or involved in Agriculture-Allied Activities
|
Purpose / End Use of Loan
|
Funding Tractor. Tractor helps farmer to do farm work effectively and efficiently for several activities like land leveling, pond digging, loading-unloading soil for land development, ploughing, farming & cultivation with seed drills, cultivator and transportation of Agri produce etc.
|
Tenure
|
Upto 72 months
|
Minimum Age / Maximum Age
|
21 years and 60 years respectively at the time of application.
|
Primary Security / Collateral
|
Hypothecation on the asset funded or as per the extant Policy Norms of the Product.
|
Repayment Mode
|
Monthly / Quarterly / Half yearly
|
KYC
|
As per RBI KYC norms
|