SSTL (Mortgage free)

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Stree Shakti Tractor Loan(Mortgage free)

Features and Benefits

  • MORTGAGE FREE!!
  • Lowest interest rate
  • Sanction your tractor loan within 3 days only
  • Monthly repayment facility
  • Collateral Security Nil
  • Margin 25% for tractor on original invoice and taxes
  • 50% for accessories
  • Rate of Interest is 11.20%. p.a, w.e.f 01.05.2016
  • Repayment period 36 months with 1 month moratorium ( Click here for EMI Calculator )

Eligibility

  • Borrower/ co-borrower should be women
  • Minimum 2 acres of agricultural land in the name of borrower(s)
  • Minimum annual income of borrower(s) should be Rs. 1,50,000 /- from all sources

Processing charges and fees

Description of charges
Charges Applicable
pre payment NIL
processing fee 1.25%
part payment NIL
Duplicate No due certificate NIL
Late payment penalty 1% b.a on unpaid installments
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
  • Income proof (Certificate from revenue authority)
  • Quotation of tractor issued by dealer to customer
Pre disbursement
  • Duly executed loan documents
  • 6 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

6.95% p.a.

w.e.f. 01.07.2020

*T&C Apply.

 

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