Tractor /Power Tillers

    Purpose :
  • Tie-Up Arrangement :

    The detail of Tie-up Arrangement is as below:

Name of the Tractor Manufacturing Company Brand name of Tractor
Punjab Tractors Ltd. Swaraj
International Tractors Ltd. Sonalika
Escorts Ltd. Escorts
New Holland Fiat India Pvt. Ltd. Ford
Mahindra & Mahindra Ltd. Mahindra
Tractors & Farm Equipment TAFE & Massey Ferguson
Eicher Tractors Eicher
Indo Farm Equipment Ltd. Indo Farm
Mahindra Gujrat Tractors Ltd. Shaktiman
Standard Corporation India Ltd. Standard
  • Farmers residing permanently in the command area of Bank’s branches having good reputation in the local area and are not defaulters of the loan taken from our bank or other banks and cultivating land for crop production/ other agricultural purposes are eligible for availing loan for tractor/ power tiller.
    Loan Limit :

    No upper limit. Need based loan will be considered as under:

  • Term Loan – Construction & Maintenance of Cold Storage
  • Working Capital - To meet the working capital requirement of cold storage units for onward lending to the farmers who have stored their agricultural commodities with them.
  • Overdraft facility: To meet out the recurring expenditure like Electricity Bill, recurring expenses of Gen sets, Labour, repairs etc.
  • Margin :
  • For Term Loan:- 25% (Minimum)
  • Working Capital - 30%(Minimum)
  • Overdraft - 25%(Minimum
    Primary Security:
  • Hypothecation of assets created out of Bank Finance.
  • Mortgage of land & building of the Cold Storage.
  • Assignment of receivables/ book debt arising out of advances to farmers for storage of agricultural commodities.
  • Collateral Security:-
  • Collateral security in the form of FDR, NSC, LIC Policies (10 – 30%) based on credit rating.
  • Equitable Mortgage of immovable properties.
  • Guarantee:-
  • Personal guarantee of partners/directors.
  • Insurance:
  • Assets created out of Bank finance and Assets hypothecated /mortgaged to the Bank is to be comprehensively insured for full market value with agreed Bank clause against fire, riot, earthquake theft, burglary etc and against deterioration of stock due to technical defects in the cold storage plant.
  • Term Loan - Up to 9 Years including moratorium.
  • Working Capital - In case of multi commodity cold storage units, the limit will be for one year subject to renewal every year. Drawings in the account will be allowed based on D.P. D.P. shall not be allowed against any Agriculture Commodities stored beyond 12 months from the date of its storage. In case of Potato Cold Storages – The CC limit is to be liquidated in phases, before December of each year.
  • Overdraft - Overdraft limit will be for one year subject to renewal every year. Interest is to be served on monthly basis & account to be brought to credit once in a year during Nov to Feb.