Axis Bank Tractor Loan Interest Rate at 17.50% - 24.00% as on Apr 2024

Axis Bank Tractor Loan Interest Rate (Updated on Apr 2024)

INTEREST RATE	17.50% - 24.00%
LOAN AMOUNT	Maximum funding upto 90% of the bank approved price on the particular tractor brand subject to underwriting norms of the bank
LOAN TENURE	Maximum 5 years
MARGIN REQUIRED	10%
PROCESSING FEE	2% to 3% of loan amount
PREPAYMENT CHARGES	4.00% of outstanding Loan amount

Axis Bank Details

• BANK OFFICIAL WEBSITE - www.axisbank.com
• CONTACT NUMBERS - 18604195555, 18605005555, 022-24252525, 022-43252525
• EMAIL ID - [email protected]
• MISSED CALL NO. - 18004195959
• CUSTOMER CARE NO. - 18604195555, 18605005555, 022-24252525, 022-43252525
• TOTAL BRANCHES - 2589
• TOTAL ATMS - 12922
• HEADQUARTER - Mumbai
• BANK ADDRESS - Axis Bank Limited,Corporate Office,Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,Mumbai - 400025

Purpose of Axis Bank Tractor Loan

To extend hassle-free and adequate credit for purchase of Tractor, accessories and other implements.

Features & Benefits of Axis Bank Tractor Loan

• Financing available for New as well as Used Tractors
• Get up to 90% finance on your tractor
• Affordable Tractor loan interest rates
• The Loan amount will cover the cost of tractor, accessories, implements, insurance and registration expenses.
• Customized financing solutions to meet individual requirements
• Minimal documentation, quick processing and faster disbursements
• Loan can be availed of with or without additional collateral
• Flexible loan tenure
• Facility of Monthly, Quarterly and Half yearly repayment
• You can use post-dated cheques (PDCs)/ Standing Instruction/ECS/ ACH to easily repay the loan
• Non farmers are also eligible to avail of a loan

Eligibility Criteria for Axis Bank Tractor Loan

• Minimum age of applicant should be 18 years
• Maximum age of applicant should be 75 years as on date of funding
• Minimum 3 acres of land holding for farmers

Documents Required for Axis Bank Tractor Loan

1. Identity Proof (anyone of the following):
   • Passport (valid as on date)
   • Permanent Driving License, which is valid with the photograph affixed thereon.
   • Permanent Account Number (PAN) Card
   • Voter's Identity Card (Election Card)
   • Job Card issued by NREGA duly signed by an officer of the State Government
   • Letter / Card issued by the Unique Identification Authority of India (UIDAI) containing details of name, photograph, address and Aadhaar number.
2. Address Proof (anyone of the following):
   • Passport (valid as on date)
   • Permanent Driving License, which is valid with the photograph affixed thereon
   • Voter's Identity Card (Election Card)
   • Job Card issued by NREGA duly signed by an officer of the State Government
   • Letter / Card issued by the Unique Identification Authority of India (UIDAI) containing details of name, photograph, address and Aadhaar number
3. Proof of land ownership: Land ownership documents, as per state laws.

Security for Axis Bank Tractor Loan

Primary Security: Hypothecation of Tractor and other implements going to be purchased.

Collateral Security: Collateral Security in the form of FDR, NSC, LIC Policies (10 - 30%) based on credit rating or as Equitable Mortgage of immovable properties.

Loan Amount for Axis Bank Tractor Loan

Maximum funding upto 90% of the bank approved price on the particular tractor brand subject to underwriting norms of the bank

Margin

Margin 10%

Tenure for Axis Bank Tractor Loan

Maximum 5 years

Repayment as Equated Monthly Installments (EMI)

4.00% of outstanding Loan amount

Interest Rate for Axis Bank Tractor Loan

17.50% - 24.00%

Processing Charges for Axis Bank Tractor Loan

Up to 2% +GST

How to Apply for Axis Bank Tractor Loan

1. Apply Online: You can apply online through website of Axis Bank and fill up your personal information and work information & uploading necessary documents. You can apply after checking your loan eligibility.
2. Apply Offline: You can visit personally to any of Axis Bank branches along with all the required documents , fill up the form and get your loan approval process started.

Tractor Loan Processing by Axis Bank

After you have submitted completed tractor loan application form along with the necessary supporting documents, Axis Bank will take following steps:

• Axis Bank will consider its loan policy guidelines and verify the documents submitted by you.
• If Axis Bank finds you eligible, you will be sent an approval letter for a specific loan amount that is based on your requirement and repayment capacity.
• Axis Bank will inform its loan approval decision within its time limit, if your application is complete in all respect.
• After complying all terms and conditions loan will be disbursed.

Documents Required: Pre Disbursement & Post Disbursement of Tractor Loan

Pre Disbursement	Post Disbursement
Duly completed loan documents	Registration (RC) book with hypothecation charge in favour of bank
Original title deed of land for collateral	Original invoice issued by tractor dealer
Post Dated Cheques, ECS Request	Tractor Insurance Copy

Other Importent Points