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HDFC Tractor Loans available for farmers | Information

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Tractor Loans available for farmers and non farmers to buy new or pre-owned tractors! Tractor Loans made easy with simplified documentation & speedy approvals through HDFC Bank.

Enjoy triple benefits when you take a Loan from HDFC Bank:

  • Faster loan – Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
  • Competitive pricing – Our loan rates and charges are very attractive
  • Transparency – All charges are communicated up front in writing along with the loan quotation

Can I get a tractor loan for any tractor I want to purchase?

If your tractor is made by a leading automobile manufacturer in India, you can get a loan.

Who is eligible for a tractor loan?

Whether you are a farmer or not, you can avail HDFC Bank’s Tractor loan for agricultural or commercial purposes. If you are a farmer, you must have a minimum of 3 acres of agricultural land.

Both farmers and non-farmers can apply for this loan. Their eligibility criteria are as follows:

FARMER NON FARMER
  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant should be 60 years on the date of funding
  • Income should not be less than Rs. 1.00 lakh per annum
  • Minimum 3 acres of agricultural land required
  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant should be 60 years on the date of funding
  • Income should not be less than Rs. 1.50 lakh per annum
  • A Telephone (Owned / PP Land line or Mobile) is mandatory

The documents required for getting a Tractor Loan are as follows:

FARMER NON FARMER
    • Proof of Identity: Passport Copy / PAN card/ Voter’s ID / Driving licence / Self affidavit with photograph of customer and signature across duly notarised / Photocopy of the bank pass book front page giving name, address photograph of the customer attested by the bank / photo of customer attested by the banker on a separate paper.
    • Latest Land Records: They should not be more than 3 months old.
    • Address Proof: Copy of land extracts / ration card / Akarni Patrak / Property card / tax receipt /Talati or Patwari or VAO certificate certifying that the applicant is a resident of the village is required.
  • Signature Proof: Copy of driving licence / Copy of PAN card / self affidavit with photograph of customer and signature across duly notarised / Present Banker verification Bank statement for last 6 months if available
    • Proof of Identity: Passport Copy / PAN card/ Voter’s ID / Driving licence / Photocopy of the bank pass book front page giving name , address photograph of the customer attested by the bank / photo of customer attested by the banker on a separate paper.
    • Bank statements: Bank statements of last 6 months, a copy of repayment track for vehicle (not older than 1 year) , income papers i.e. IT returns / Contract papers ,copy of work/transport contracts, if any, are required.
    • Address Proof: Electricity bill / municipal tax receipt / Society bill / Agreement Copy / telephone bill will suffice.
  • Signature Proof: Copy of driving licence / Copy of PAN card / Present Banker verification. A certified true copy of partnership deed / Memorandum & articles of association will be required in case of partnership firms and limited companies respectively.

 

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