Tractor Subsidy In Chandigarh

Tractors Subsidy in Chandigarh

Tractor Loan Scheme

Krishi Plus Scheme

Who is eligible for Krishi Plus loan:

Any rural youth below the age of 45 years, and undergone training in maintenance/repairs of automobiles / tractors.
The applicant and his family should belong to the small and marginal farmer category.
The applicant should have a valid tractor driving licence and should operate the tractor by himself ie. The tractor should be owner driven.

Loan Amount:

As per quotation of the tractor and other accessories including trailer of borrower's choice.
The tractor to be financed should be in the approved list of tractors circulated to the branches by us. 85 % of the cost of the asset is provided as loan. Maximum amount Rs.4 lacs.

Documents you need to provide

Land records in the name of your family / applicant (minimum 1 acre) to be submitted. valid driving license.

Disbursement of the loan:

The loan amount will be paid directly to the supplier of the tractor and accessories.

Farm Mechanisation Schemes

Purpose:

Credit for purchase of farm equipment and machinery for agricultural operations. The scheme covers activities ranging from purchase of tractors and accessories, trailers, power tillers, combine harvesters, power sprayers, dusters, threshers etc.

Who are eligible for Term Loans:

Farmers owning mare than minimum acreage of perennially irrigated lands are eligible (for power tillers 2 acres, for tractors 4 acres for > 35 HP and 6 acres for above 35 HP and for combine 8 acres). Eligibility for purchase of other farm equipment is decided on the income generated by the agri activity undertaken by you.

Loan Amount:

Upto Rs. 50,000/- 100 % of the cost of the asset is provided as loan. Above Rs. 50,000/- upto 85 % of the cost of the asset provided as loan.

Documents you need to provide:

Quotation for the assets to be purchased have to be submitted. Land records to ascertain cultivation rights title to the property should also be submitted.

Security

Amount of Loan

upto Rs. 50,000 (other than tractors) - Hypothecation of assets financed
Above Rs. 50,000 and upto Rs. 1,00,000 for tractors - Hypothecation of assets financed
Above Rs. 50,000 (other than tractors) and Above Rs.1,00,000 for tractors - i. Hypothecation of assets financed ii. Mortgage of land
How do you Repay - Repayment of loan will be in quarterly/half yearly / yearly installments depending on the harvest of the crops or the liquidity created by the agriculture activity undertaken. A maximum period of 9 yrs is allowed.
How to apply for this loan - You may contact our nearest branch for the application or even talk to the marketing officers visiting your village and produce the land documents.

Every Year various types of Agricultural implements/Machinery is being provided on subsidy ranging from 25% to 50% of the cost under the different State and centrally sponsored Schemes.