Public bank
SBI New Tractor Loan
State Bank of IndiaAll India
A loan to buy a new tractor, with the tractor itself as security.
What it is
SBI finances new tractors for farmers with at least 2 acres. The tractor is hypothecated to the bank.
The rate is SBI's 1-year MCLR plus a spread, so it moves when the MCLR changes. It is lower when you give extra collateral.
All IndiaCoverageAny SBI branchApply at12.3%–13.05%Rate
Eligibility at a glance
Farmers with at least 2 acres of land
Able to pay a 25% down payment
Apply at: Any SBI branch
Key facts
- Amount: Up to ₹25 lakh
- Repayment: Up to 5 years, half-yearly
- Security: Tractor hypothecated; 25% margin; min 2 acres
!Information only, not financial or legal advice. Final terms are set by the lender. AgriFolk does not collect any fee.