www.mizoramruralbank.in

TRACTOR LOAN & POWERTILLER

PURPOSE

Financing Tractor & Farm Equipment/attachment purchase to farmers for Cultivating own land and Custom hiring

TARGET GROUP

Any Farmers, Agricultural labourers, Self-Help Groups (SHGs) and Joint Liability Groups (JLGs).

ELIGIBILITY

  1. Age:- 21 to 65 yrs
  2. For Working on own Land:
  • upto 35 HP Tractor: 04 Acre irrigated land(min) however this condition may be waived where farmer is engaged in intensive farming with multi cropping
  • Above 35 HP tractor:06 Acre irrigated land(min)
  • 2-3 farmers of same area may jointly fulfill eligibility condition
  • Tenant farmers may also be financed provided they produced an agreement for min.10 yrs and owner of the land is willing to be a guarantor and for change on land
  • For Custom Hiring :Min.600 hrs work per annum should be available

LOAN AMOUNT

85% of the project cost which may include price of tractor, cost of equipment,attachment; registration charges & Insurance premium

MARGIN

  • Min 15% (Must be held in deposit a/c of borrower prior to disbursement)

INTEREST RATE

  • As Prescribed by the Bank
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Largest Branch Network in
Mizoram.
Mizoram Rural Bank
Head Office : MINECO,Khatla
Aizawl - 796001
Mizoram
Nodal Officer for Customer Grievance Redressal
© Copyright 2021 Mizoram Rural Bank. All Rights Reserved.

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