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Financing of Combine Harvester

Purpose

To meet the cost of purchase of Combine Harvesters along with accessories.

Features

  • Loan Amount: Minimum: Rs.5 lakhs and Maximum: Rs.35 lakhs
  • Margin:  20% of cost of Combine Harvester and accessories (excluding insurance and registration charges).
  • Repayment: The loan is repayable as Principle Equated Distribution with Interest in half yearly Instalments.
  • The loan amount shall be paid directly to the authorized dealer / supplier.
  • Margin amount to be paid before or with the disbursement.

 Eligibility Criteria

  • Individual, group of individuals such as JLGs / SHGs, etc.
  • Applicant should hold minimum of 3 acres of irrigated land for individual borrower and 5 acres of irrigated land for joint borrowers.
  • Or dry land of min. 15 acres.
  • Minimum CRIF Highmark Score above 600 or CIBIL score above 650 or No credit history.

Documents Required

  • Application form with photo of the borrowers.
  • Combine Harvester Quotation/ Proforma Invoice.
  • KYC Documents
  • Proof of agricultural land/ cultivation.
  • Any other document as per sanction.

  • Interest: One-year MCLR + 3.50%
  • Fees & Charges: 1.50% of Loan amount

For more details, please visit nearest SBI Branch.


Last Updated On : Thursday, 30-01-2025

Interest Rates

8.25%* p.a. onwards

w.e.f. 15.02.2025

*T&C Apply.

 

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