Dcb Bank Limited Tractor Loan Interest Rate at 11% to 20% as on Apr 2024

Dcb Bank Limited Tractor Loan Interest Rate (Updated on Apr 2024)

INTEREST RATE	11% to 20%
LOAN AMOUNT	Up to 90% finance of value of the tractor
LOAN TENURE	7 years to 9 years
MARGIN REQUIRED	15% of loan amount
PROCESSING FEE	2% to 3% of loan amount
PREPAYMENT CHARGES	2% of prepaid amount

Dcb Bank Limited Details

• BANK OFFICIAL WEBSITE - www.dcbbank.com
• CONTACT NUMBERS - 022-68997777, 040-68157777
• EMAIL ID - [email protected]
• MISSED CALL NO. - 7506660011
• CUSTOMER CARE NO. - 022-68997777, 040-68157777
• TOTAL BRANCHES - 443
• HEADQUARTER - Mumbai
• BANK ADDRESS - 6th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra

Purpose of Dcb Bank Limited Tractor Loan

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

Features & Benefits of Dcb Bank Limited 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 Dcb Bank Limited Tractor Loan

Individual / Joint, Sole Proprietary Concerns, Partnership Firms, Trusts, Societies, Limited Companies and all legal entity.

Farmer	Non Farmer
Minimum 18 years of age	Minimum 18 years of age
Maximum age of 60 on the date of funding	Maximum age of 60 on the date of funding
Minimum income of Rs. 1 lakh per annum	Minimum income of Rs. 1.50 lakh per annum
Minimum 2 to 3 acres of agricultural land required	A telephone line (Owned, PP Landline or Mobile) is mandatory

Documents Required for Dcb Bank Limited Tractor Loan

• Proof of Identity: (Passport / Voter's ID / Driving License/PAN Card/Aadhar Card)
• Address Proof: (Ration card /Driving License/ Voter's ID / Utility Bill (any one within last 3months) / Registered Rental Agreement / Passport)
• Land holding proof/ Latest Land Records: Should not be more than 3 months old, in case of farmers
• Income Tax (ITR) and financial statements for the last two years, complete with schedules and P&L account.
• Bank statements for the last six months
• Driving license for commercial usage cases
• Signature Proof: Copy of driving licence / Copy of PAN card / Present Banker verification.
• Fleet list details
• A certified true copy of Proprietorship declaration, partnership deed, board resolution, Memorandum & articles of association will be required in case of partnership firms and limited companies respectively.

Security for Dcb Bank Limited 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 Dcb Bank Limited Tractor Loan

You can get up to 90% finance on your tractor.

Margin

Upto 15% margin is required

Tenure for Dcb Bank Limited Tractor Loan

Get flexible tenure of 12 months to 9 years

Repayment as Equated Monthly Installments (EMI)

2% of prepaid amount

Interest Rate for Dcb Bank Limited Tractor Loan

11% to 20%

Processing Charges for Dcb Bank Limited Tractor Loan

2% plus taxes as applicable

How to Apply for Dcb Bank Limited Tractor Loan

1. Apply Online: You can apply online through website of Dcb Bank Limited 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 Dcb Bank Limited branches along with all the required documents , fill up the form and get your loan approval process started.

Tractor Loan Processing by Dcb Bank Limited

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

• Dcb Bank Limited will consider its loan policy guidelines and verify the documents submitted by you.
• If Dcb Bank Limited finds you eligible, you will be sent an approval letter for a specific loan amount that is based on your requirement and repayment capacity.
• Dcb Bank Limited 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