PURPOSE

: To provide loan for purchase of second hand tractor to eligible farmers.

ELIGIBILITY

: 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. Thus, financing of tractor shall be done after ensuring economic viability of the tractor loan proposal.

EXTENT OF LOAN

: Amount of loan will be 75% of depreciated value of tractor. Down payment of 25% at depreciated value of tractor to be financed is to be met by borrower from his own sources. Loan for second hand tractor and three implements including a trailer shall be restricted to Rs.1,50,000/- (Rupees one lakh fifty thousand only).