Andhra Bank
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AB Kisan Bandhu – Tractor Financing
 
  Objectives

To finance for tractors to improve farm mechanization.
 
  Eligibility


Farmers having 3 acres of double cropped (owned) or 6 acres of  single  cropped  land (owned)

 
 Quantum of finance


Up to unit cost of the tractor. Besides Tractor, minimum 3 implements  including  Trailor should be considered as Unit Cost.

 
  Margin

15% of the unit cost
 
  Repayment

9 yearly or 18 half yearly installments linked to harvesting season.
 
 Collateral Security

  • Up to Rs.3,50,000/- , no collateral security.
  • Above Rs.3,50,000/-: Collateral security value of minimum 75 % of the loan amount in the form of mortgage of land/charge creation under state laws
 
  Rate of interest

click here for Interest rates
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