Key Features
Financing on tractors across manufacturers
Loan tenure of upto 6 years available
Customised loans for customers with different size of land holdings
Finance for used tractors*
Attractive interest rate @ 10.75 % *
Technology-driven transparent processes
Customised repayment option based on harvesting patterns
Attractive schemes to suit your needs
Faster sanction and disbursement of loan
Multiple modes of repayment
Simple documentation
Competitive processing charges
Strong presence in semi-urban and rural India
*Terms & Conditions Apply. Credit at the sole discretion of the company.
Farm Equipment Finance
L&T Financial Services has long been associated with the Rural Finance sector, supporting entrepreneurship and livelihoods. With the aim of providing easy finance for tractor and agricultural equipment, every customer is assured of the best deals. We also believe that flexible loan terms could help customers adjust their payment cycles to match crop patterns. So when it comes to reaping more, our customers will surely benefit.
Eligibility Criteria
· Age requirement: 18 years - 65 years
· Income requirement: Articulated with the size of landholdings and per acre yield
· Any other requirements: KYC compliance
Documentation:
| Documents | Farmer |
|---|---|
| Income Proof | As per submissions made at the time of filing returns |
| Bank Statements | Last 6 months |
| Other Documents | Agricultural land document, NACH/ECS Mandate, PDCs, etc |
| ID Proof | Aadhaar /PAN card |
| Age Proof | Passport / Voter's ID card / Driving License / PAN card / Aadhaar card |
| Address Proof | Passport / Latest telephone bill (landline) / Latest electricity bill / Latest bank account statement |
Schedule Of Charges
| Charge Type - Farm Equipment Finance |
Details |
|---|---|
|
Documentation charge |
Upto 1 % of the loan amount + applicable taxes |
|
Prepayment/Foreclosure charges |
2% of prepaid amount + applicable taxes |
|
Valuation charges |
As per actuals |
|
Late payment interest |
3% per month on overdue EMI |
|
Repayment bounce charges |
Rs 1000/- + applicable taxes |
|
Legal /Recovery /Repo /Parking & other charges |
As per actuals |
|
RC Non submission charge |
Rs 1000/- |
|
Duplicate NOC charges |
1000/- + applicable taxes |
|
Repayment swap charges ( per swap) |
Rs 500/- + applicable taxes (Applicable only for branch walk-ins) |
|
SOA/RPS /FC letter & other documents |
Nil |
