PURPOSE

: Loan is sanctioned for Purchase of new tractors and matching implements/equipments, purchase of new power tillers, purchase of second hand tractors with matching implements, purchase of agricultural machinery, repair/renovation of tractors.

ELIGIBILITY:

For tractors: Farmer or a group of farmers holding land jointly should have a land holding either owned by them or held by them on perpetual leasehold rights of minimum 4 acres of perennially irrigated land or corresponding acreage. Economic viability of financing tractor in each case shall be worked out. Thus, financing of tractor shall be done after ensuring economic viability of the tractor loan proposal.
For Power tillers: Farmer or a group of farmers holding land jointly should have a land holding either owned by them or held by them on perpetual lease hold rights of minimum 2.5 acres of perennially irrigated land or corresponding acreage. Financing of power tiller shall be done after ensuring economic viability of the power tiller proposal.
For other farm machinery/equipments:
No condition of minimum land holding has been stipulated. Farmer should have proper scope for utilization of assets and based on economics should be in a position to conveniently repay loan.

EXTENT OF LOAN

: Need based loan

REPAYMENT OF LOAN

Repayment of loan is to be made in half yearly/yearly instalments as under: -

NOTE: Repayment period shall be fixed on a case by case basis depending on nature of repairs, category of farmer and his repayment capacity, etc