Dena Bank Tractor Loan Eligibility

Dena Bank

 To finance purchase of Tractors, Trailers and other agricultural implements and accessories.

Tractor Scheme

 

1

Purpose

      To Finance Purchase Of Tractors, Trailers And Other Agricultural Implements And Accessories.

2

Eligibility

      Individuals, Partnership Firms, Companies, FSS, PACs Engaged In Agriculture And / Or Allied Activities And Having Land Holding Of 8 Acres Of Perennially Irrigated Land Or 16 Acres Of Dry Land Cultivating Single Crop In A Year Or 4 Acres Of Irrigated Land And Cultivating Minimum Two Crops In A Year.

3

Nature Of Facility

      Term Loan

 

4

Margin

      20%

 

5

Security

      Primary

 

 

      Collateral

-    Hypothecation Of Tractor And Other Assets Created Out Of Bank Finance

-    Hypothecation Of Crops

-    Mortgage/Charge On Agricultural Land

Total Value Of Primary And Collateral Security Should Be At Least 200% Of The Loan Amount.

6

Insurance

      Assets Created Out Of Loan Have To Be Insured For Full Value.

7

Interest Rate

Limit Upto Rs.50,000/-

Above Rs.50,000/- Upto Rs.5.00 Lacs

Above Rs.5.00 Lacs Upto Rs.25.00 Lacs

Above Rs.25.00 Lacs

Base Rate + 0.50%

Base Rate + 1.00%

Base Rate + 1.50%

Base Rate + 2.00%

8

Processing Charges

      Upto Rs.25,000/-  : Nil

      @ Rs.120/- Per Lac Or Part Thereof, Maximum Rs.20,000/-.

9

Documentation Charges

Nil

10

Repayment

      Within 7-9 Years.

         

 

For Further Details, Please Contact Our Nearest Branch.