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We provide hassle-free and convenient loans tailored for acquiring the necessary farm equipment to enhance productivity. Our competitive interest rates and rapid loan approvals and disbursements make the process smooth. Minimal documentation is required for Farm Implement Loans, and we also offer personalised loan solutions to support your growth and success.
| Schedule of Charges | Charges (inclusive of GST) |
|---|---|
| Processing Fees | Upto 10% |
| Penal Charges | 36% Per Annum on unpaid installment |
| Foreclosure Charges | 4% of the future principal Outstanding |
| Other Charges | |
| Bounce Charges | Rs.750 |
| Duplicate NDC/NOC Charges | Rs.500 |
Age: 18 years – 65 years
Minimum Salary: Rs 1.2 lakhs per annum
Minimum 2 acres of agricultural land in the name of the applicant or in the name of close family member and he/ she shall be taken as co-applicant for the Loan.
TVS Credit has made its farm equipment finance application process easy. The farm implement loan procedure is available both online and offline, and you can either visit the nearest branch or opt for our time-saving online Loan process. Get farm implement loan in 4 easy steps:
TVS Credit keeps the needs of farmers and business owners in mind, offering Implement Loans at reasonable and highly competitive interest rates. Learn more about the interest rates for farm equipment loans.
TVS Credit aims at reducing the financial burden of making the heavy investment of purchasing a new tractor. Thus, with our farm implement loan, you can avail funds up to 90% of the total value of the equipment you are buying.
Agriculture Equipment Loans are agricultural loans since they are primarily used in that sector of the economy. However, you can also purchase an implement for use in your business operations. Farm implement loans are also considered to be term loans as the borrowed amount must be repaid within a specific period.
Credit score is a criterion considered by most lenders while approving farm implement loan applications. Usually, a credit score of 680+ is considered healthy. However, in certain cases, even applicants with scores as low as 520 have been able to avail of tractor financing. It is best to check with the lender on your specific situation to get a clear picture.
