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Agriculture Equipment Finance

SBI Scheme for Financing Farm Machinery

Scheme for financing Farm Machinery where tangible assets are created (other than tractor, combine harvester and power tillers.

Purpose of farm machinery financing scheme: Bank is extending financial assistance for purchase of farm machinery like implements, threshers, sprayers (both mechanical and motorized) bullock and cart etc.

Eligibility: All categories of farmers cultivating lands are eligible for the loan.

Loan amount:
For loans upto Rs1,00,000/-: 100% of the cost
For loan above Rs 1,00,000/-: 75 to 85% of the cost of the asset to be purchased

For loans upto Rs.100,000/-: Hypothecation of assets created out of Banks finance.
For loans above Rs.100,000/- Hypothecation of assets created out of Banks finance. and Mortgage/ charge over the land or any security acceptable to the Bank.

Documents you need to provide:
Land records, quotation for the assets to be purchased

How do you repay:
Repayment will be half yearly/ yearly instalments depending on the harvest of the crops with a maximum of 7 years

How to apply for this loan:
You may contact our nearest branch or talk to the marketing officers visiting your village.

For more details about scheme visit: