What is rate of interest for tractor loan?

Compare Best Tractor Loans Interest Rates 2021

Bank Name Interest Rate Loan Tenure
State Bank of India 9.00% p.a. – 10.25% p.a. Up to 5 years
ICICI Bank 13% p.a. to 22% p.a. Up to 5 years
HDFC Bank 12.57% p.a. to 23.26% p.a.* 12 months to 84 months
Axis Bank 17.50% p.a. to 20% p.a. Up to 60 months

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Likewise, can I get a loan for a tractor?

The best tractor financing programs require credit scores over 680 but there are programs in the marketplace for most credit profiles. Often, tractors can be financed with FICO scores all the way down to 500 based on cash flow, collateral, or other factors.

Similarly one may ask, how can I get SBI agriculture loan? The loan is provided at

  1. Application form, duly filled.
  2. 2 passport size photos of the borrower.
  3. ID proof – PAN Card, Voter ID, Aadhaar Card, Passport, or Driving License.
  4. Address proof – Voter ID, Aadhaar Card, Passport, or Driving License.
  5. Proof of agricultural crops or land.

Then, how do I get a tractor subsidy?

Step1. Go to the Tractor Yojana Online Apply 2021 Subsidy Form official website of PM tractor yojana state wise. Step2. Click on the state wise yojana link on the home page.

How long can you finance a tractor for?

These loans can often be used to purchase either new or used equipment, and generally have terms in the range of one to five years.

How much is a crop loan per acre?

DBT will be given at the rate of Rs 4,000 per acre per season for cropping while zero interest loan will be at the rate of Rs 50,000 per hectare to be capped at Rs 1 lakh per farmer, sources told BusinessToday.In. The crop loan is already offered to farmers at a subsidised rate of 4 per cent only.

How much loan can I get on 60000 salary?

However, if you are deliberating on the loan amount with how much loan I can get on a 60,000 salary, the approved amount should be close to

Salary Expected Personal Loan Amount
Rs. 40,000 Rs. 10.80 lakhs
Rs. 50,000 Rs. 13.50 lakhs
Rs. 60,000 Rs. 16.20 lakhs

How much loan can I get on my salary of 15000?

A: A salary of Rs. 15,000 generally falls in the category of a low-income borrower group. So, an instant personal loan app with a maximum approval amount of 1.5 Lakhs can be availed by the borrower with a starting salary of Rs. 15,000.

Is there any subsidy on tractor?

PM Kisan Tractor Yojana: 50% Subsidy to buy Tractor Under The Scheme. PM Kisan Tractor Scheme (Yojana): The Central government has announced up to 50% Subsidy on buying tractors under the PM Kisan Tractor Scheme.

What is SBI agri loan?

SBI Crop Loan is offered in the form of SBI Kisan Credit Card (SBI KCC) to meet expenses related to crop production, post-harvest activities, etc. … Agriculturists can pledge your gold ornaments to get loan at low interest rate to meet expenses related to your agricultural activities.

What is the interest of 3 lakh loan in SBI?

9.60%

Loan Amount Interest Rate Tenure(Year)
₹ 3,00,000 9.60% 1

What is the interest rate of SBI bank loan?

SBI Personal Loan Interest Rate

Particulars Salaried/Self Employed
Interest rate 9.60% p.a.- 15.65% p.a.
Loan Amount Minimum: Rs.25,000 Maximum: Rs.20 lakh
Loan Tenure Up to 72 months
Processing Fee 1.5% of loan amount + tax

What is the price of a tractor in India?

Questions & Answers on Tractor

Brand Name (HP Range) Minimum Price Maximum Price
Mahindra – (14 to 55) HP Rs. 2.6 Lakh Rs. 9.9 Lakh
John Deere – (38 to 60) HP Rs. 6.5 Lakh Rs. 12.10 Lakh
Kubota – (21 to 45) HP Rs. 4.1 Lakh Rs. 8.7 Lakh
New Holland – (35 to 65) HP Rs. 5.28 Lakh Rs. 11.25 Lakh

What type of loan is a tractor?

Tractor loans fall within the category of agriculture loans. This loan can be applied by an individual or group of individuals. The repayment can be done by the entire group of individuals or by a single individual within the group.

Which bank is best for agri loan?

Compare Best Agriculture Loan Interest Rates in India

Name of the Bank Interest Rate
ICICI Bank (Agri Term Loan) 10.00% – 15.33% p.a.
Central Bank of India (Cent Kisan Tatkal Scheme) 8.70% p.a. onwards
IndusInd Bank (Crop Loan) 10.15% – 14.75% p.a.
HDFC Bank (Retail Agri Loans) 9.10% – 20.00% p.a.

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