Ø      Eligibility :

à  Farmer having minimum of 4 acres of irrigated land/ 8 acres of dry land.

Ø      Purpose :

à  To improve agricultural production/productivity for mechanising the farming activities.

à To purchase Tractors /power tiller together with necessary equipments like cultivator, tiller, mould board plough, disc harrow, cage wheel, trailer, threshers, harvesters etc.

Ø      Total Project Cost :

à  Based on the quotation/invoice submitted for the vehicle and the implements to be purchased.

Ø      Rate of Interest :            

Upto Rs. 0.50 lakhs -                   @ BPLR less 2.5% - 10.00%

Rs.0.50 – Rs.2.00 lakhs -              @ BPLR+TP - 1.50% - 11.50%

>Rs.2.00 - Rs.5.00 lakhs    -          @ BPLR+TP -1.00%- 12.00%

> Rs.5.00 lakhs    -                        @ BPLR +TP - 13.00%

Ø      Margin :

à  5% if value of collateral security is atleast equivalent to the loan amount.

à  10% for others.

Ø      Security :

à  Hypothecation of tractor and other implements purchased with the bank loan.

Ø      Repayment :

à  Maximum 9 years, in half yearly/ yearly installments depending upon the crop cultivated.