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Long Term Credit
Farm Mechanization
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LOAN FOR FARM MECHANIZATION
 
WHAT DOES LOAN FOR FARM MECHANIZATION PROVIDE?
 
Loan for farm mechanization provides hassle-free and adequate credit for purchase of farm machinery like tractors, combine harvester, power tillers, farm implements, trolley, etc.
 
Eligibility:-
 
In order to avail loan for the purchase of Combine Harvesters, etc.
  • Farmers should have five acres of perennial irrigated land or corresponding acreage as prescribed for different categories of land under the concerned State Land Ceiling Act.
  • Farmers should have productive work for minimum of 2000 Hrs in a year for combine harvester; 

In order to avail loan for the purchase of Tractors, Power Tillers with accessories, implements &/or Trolley, etc.

  • Farmers should have at least five acres of perennially irrigated land or corresponding acreage as prescribed for different categories of land under the concerned State Land Ceiling Act.
  • Farmers should have productive work for minimum 1000 hours for Tractors and 600 hours for Power Tillers.
 
Quantum of loan:-
 
The amount of loan that one can avail depends on 85% to 95% of cost of the Unit based on quotation.
 
Margin:-
 
Up to Rs. 1,00,000/- - Nil

Above Rs.1,00,000/- - 10% to 15%.

Subsidy if any will be treated as part of margin.

 
Rate of Interest And Processing charges:-
 
Please click here to know our latest interest rates
 
Repayment:-
 
Tractor, Combine Harvester : 7 to 9 years

Power Tiller : 5 to 7 years

 
I Anup Kumar Das, Son of Late Jiban Krishna Das, residing at Vill.- Paschim Nandabhanga, P.O.- Bakhrahat, P.S.- Bishnupur, Dist.- South 24-Parganas, West Bengal
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