Get Your New Tractor Loan Scheme Online in India | SBI - Agri & Rural
New Tractor Loan Scheme
Features
- The Loan amount will cover the cost of tractor, accessories, implements, insurance and registration expenses.
- NO UPPER CEILINGin quantum of loan amount.
- Quick processing - 7 days from the date of submission of all required documents
- Facility of Monthly/quarterly/yearly repayments
- Get concession of Interest @1% p.a by repaying promptly
- Collateral Security : Registered/equitable mortgage of land for value not less than 100% of the loan amount
- Margin is 15% of the cost of tractor, accessories, implements, insurance and registration expenses
- Rate of Interest: 11.95% p.a. w.e.f 01.05.2016
- Repayment period is 60 months with 1 month moratorium ( Click here for EMI Calculator )
Eligibility
- Minimum 2 acres of land in the name of applicant
Processing charges and fees
Description of charges | Charges Applicable |
---|---|
Pre payment | NIL |
Processing fee | 0.5% |
Part payment | NIL |
Duplicate No due certificate | NIL |
Stamp duty | As applicable |
Late payment penalty | 1% p.a on unpaid installments |
Penalty for failure to get the vehicle registered within one month from the date of delivery | 2% for the period of default |
Failed SI (per SI) | Rs. 253/- |
Failed EMI (Per EMI) | Rs. 562/- |
Documents Required
Pre sanction
- Duly filled in application form
- 3 latest passport size photographs
- Identity proof- Voter ID card, PAN card, Passport, Aadhaar card
- Address proof: Voter ID card, Passport, Aadhaar card
- Documentary proof of land
- Quotation of tractor issued by dealer to customer
- Title search report from the panel advocate
Pre disbursement
- Duly executed loan documents
- Original title deeds of land for mortgage
- Post Dated Cheques.
Post disbursement
- RC book with hypothecation charge in favor of SBI
- Original invoice/bill issued by dealer to the customer
- Comprehensive insurance copy

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.30%
3 years to less than 5 year
5.40%
5 years to less than 10 years
Tractor Loan
Other Products

Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
Upto 1 lakh(w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Upto 1 lakh (w.e.f. 31.05.2020)
2.70% p.a.
Above 1 lakh (w.e.f. 31.05.2020)
5.30%
3 years to less than 5 year
5.40%
5 years to less than 10 years