Purpose * To finance purchase of Tractors, Trailers and other agricultural implements and accessories. Eligibility * Individuals, Partnership firms, companies, FSS, PACs engaged in agriculture and / or allied activities Quantum of Loan *Invoice price of New Farm machinery Nature of facility * Term Loan. Margin * Up to 1 Lakh-NIL * Above 1 Lakh- 20% Rate of Interest As applicable to Agri Farm Credit Repayment * Within 5 to 9 years(including moratorium period of Max 12 months) Security *Primary Security : 1. Hypothecation of tractor and farm machineries and implements. 2. Hypothecation of Crops *Collateral Security : (For new/second hand farm machinery) :- 1. Up to Rs 1.00 Lakh – NIL 2. Above Rs 1.00 Lakh – As per bank’s policy
