| Eligibility |
The applicant should have:
Minimum land holdings for financing tractors up to 35 HP
-4 acres of perennial irrigated land
For tractors above 35 HP _ 6 acres of perennially irrigated
land.
And corresponding acreage prescribed for different categories
of land under State Land Ceiling Act (SLCA)
Minimum 600 hours work per annum for the machine. |
| Unit Cost |
According to the invoice or quotation
of approved make |
| Margin |
15% for borrowers availing loan for
the first tractor or power tiller
30% for borrowers availing loan for the second tractor or
power tiller |
| Repayment |
9 years for tractors repaid half yearly
7 years for power tillers repaid rests |
| Security |
Primary: Hypothecation of tractor, tiller
with implements
Collateral: Mortgage of farmlands or 3rd party guarantee |
| Insurance |
3rd party insurance for the full value
of the machinery |
