Combine Harvestor Loan

Agri & RuralCrop LoanGold LoanFarm mechanization Loan
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Allied ActivitiesMiscellaneous ActivitiesCovid 19 Relief Measures
Combine Harvestor Loan

Purpose of Loan

Purchase of combine harvesters along with accessories.

Features

  • Type of Facility : Agriculture Term Loan
  • Margin:25% of project cost excluding insurance and registration charges.
  • Interest Rate: 3.50% above one year MCLR.
  • Repayment:Negotiated Repayment. Repayable in 9 yearly or 18 half yearly instalments including grace/gestation period.
  • Processing Charges : 1.40% of the loan amount + GST
  • Insurance: Comprehensive insurance of combine harvester alongwith accessories.

Eligibility

  • Minimum acreage: 6 acres irrigated (dry land 15 acres).
  • Finance available for the approved models of combined harvester.

Security

  • Primary: Hypothecation of combine harvester and accessories.
  • Collateral: Mortgage of land /charge on land or liquid collaterals.

Documents Required

  • Duly filled in application form
  • Identity proof- Voter ID card/PAN card/Passport/ Aadhaar card/Driving License etc.
  • Address proof: Voter ID card/Passport/Aadhaar card/Driving license etc.
  • Proof of agricultural land/ cultivation.

Interest Rates

6.80%* p.a.

w.e.f. 01.01.2021

*T&C Apply.

 

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