agriculture review

Want To Buy A New Tractor, Apply For These Loans!

by aditya abhishek

Introduction

If you want to get a tractor loan to buy a new tractor for agriculture, then you can apply to these banks or companies that are known for the best service.  

SBI 

SBI offers one of the best tractor loans in India. You can get from 2 to 20 lakhs Indian rupees as a tractor loan from SBI at the minimum interest rate of +3.5%. 

Mahindra Finance

As a farmer or an individual, you can apply for a tractor loan at Mahindra Finance by submitting KYC documents, income proof and land ownership documents online. 

HDFC Bank

If you have a minimum annual income of 1 lakhs, then you can get a new tractor loan from HDFC Bank for up to 90% of the tractor cost with a repayment period of 12 to 60 months. 

Bank Of Baroda

Bank of Baroda also offers new tractor loans. If you have a minimum land holdings of 2.5 acres, then you can apply for their loan. However, they don't offer Tatkal tractor loans.

HDB Financial Services

If you want to get an instant tractor loan, then you can apply to HDB Financial Services. They also offer EMI calculation on their online dashboard. 

IndusInd Bank

If you are over 21 years of age with 3 years of work experience, and earning around 1.2 lakhs per annum, then you can apply for a tractor loan at IndusInd bank. 

Axis Bank

You can get a tractor loan from Axis bank with a repayment period of up to 5 years. However, the effective interest rate varies from 17.50% - 20.00% .

thanks for reading!

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