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