Apply for Tatkal Tractor Loan Online in India | SBI - Agri & Rural
Tatkal Tractor Loan
Features and Benefits
- MORTGAGE FREE Tractor Loan!!
- Turn Around Time (TAT) 48 hours only
- Free accidental insurance cover of Rs. 4.00 Lakhs
- Lowest interest rate
- No Processing Fee
- Differentiated repayment (M/Q/HY) repayment facility
- Collateral Security Lien on TDR accepted as margin money
- Margin Minimum 25% of the cost of tractor including insurance and registration charges.
- Margin (%) - 25
- Effective interest rate (% p.a.) - 11.20
- Margin (%) - 35
- Effective interest rate (% p.a.) - 10.95
- Margin (%) - 50
- Effective interest rate (% p.a.) - 10.55
- * w.e.f 01.05.2016
Repayment period
- 48 months when the installments are fixed on the net loan (Bank Loan – Margin kept as TDR with bank)
- 60 Months when the installments are fixed on the basis of total loan ( Click here for EMI Calculator )
Eligibility
- All farmers – individual/joint borrowers who are owner cultivators
- Minimum 2 acres of agricultural land in the name of borrower(s)
Processing charges and fees
Description of charges | Charges Applicable |
---|---|
Pre payment | NIL |
Processing fee | NIL |
Part payment | NIL |
Duplicate No due certificate | NIL |
Late payment penalty | 1% p.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
- Quotation of tractor issued by dealer to customer
- Title search report from the panel advocate
Pre disbursement
- Duly executed loan documents
- 48 or 60 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