• Rate of interest: As per SBI Policy.
• Margin on primary security : 10%
• Funding of Power Tiller, Accessories, Agricultural Implements 

a) For loans upto Rs. 50,000/-
Primary – Hypothecation of power tiller, accessories and implements purchased out of Bank’s finance
Collateral – Nil

b) For loans above RS.50,000/- and upto Rs. 2 Lacs.
Primary – Hypothecation of power tiller, accessories and implements purchased out of Bank’s finance.
Collateral – Registered or Equitable Mortgage/charge on land. Value of such lands obtained as security, shall be atleast of 50% of the loan amount or one third party guarantee, good for amount involved or any other acceptable collateral security. (Acceptance collateral security means, NSC’s, Bank’s own STDR, Kisan Vikas Patras, Indira Vikas patras, gold, urban property, surrender value of LIC policy, the value of it should be atleast 50% of the loan amount)

• Minimum finance per borrower: Rs. 0.50 Lacs. No prescribed maximum limit
• Rate of interest: As per SBM policy
• Margin on primary security : 10%
• Funding of Power Tiller, Accessories, Agricultural Implements and Trailer
• Security: As per Bank norms
  • Hypothecation of Power Tiller
  • Equitable Mortgage of lands

• Maximum tenure of loan is 7-9 years. Repayment will be structured, based on the seasonality of cash flows. Hence, installment recovery shall be half yearly/annually & interest recovery shall be down along with installment.
• Insurance of the assent financed is mandatory.
• The Branch concerned/the dealership manager concerned shall make a field visit at least to once a quarter. Exception, if any shall be reported to his superiors.
• Area of operation. No restriction.
• SBM shall be the preferred financer (i.e enjoying the right of first referral) w.r.t the Power Tiller Company
• Processing and collection as per Bank’s policy.

• Repayment period – 5 -9 years from the date of disbursement, depending upon the machinery to be purchased

• Farmer availing the tractor loan should purchase implements such as trailer, cultivator etc., along with the tractor unless he already owns threes implements.
• The farmer should own 8 acres of perennially irrigated land for availing Tractor loan and 6 acres of perennially irrigated land for power tiller loan. Relaxable based on viability of the proposal.
• Only ISI certified Oil engine/electric motor pump sets can be financed
• Tractor/Power tiller should meet the Commercial Test Report requirements.

• Loan quantum will be 90% of invoice value (including registration and life tax).
• Rate of interest – As per Bank’s norms.

• Maximum tenure of loan is 7 years. Repayment will be structured, based on the seasonality of cash flows. Hence, installment recovery shall be on annual basis  & interest recovery will  be done along with installment.
• Security: As per Bank’s norms
  • Hypothecation of Power tiller & implements
  • Mortgage of land/charge on land by declaration
  • Our hypothecation charge be registered with RTO
  • Two blank TTO forms signed by the borrower/s
  • Two acceptable guarantors
  • Comprehensive insurance of power tiller & trailer
• Processing and collection as per Bank’s policy.

• A rebate of 1% in the said interest rate may be allowed to those borrowers who will repay the loan instalments regularly.

• Repayment: Loan should be repaid within a period of 7 years and the mode of repayment should be on half yearly basis.
• Security: As per Bank’s norms
  • For loan upto Rs. 50,000 : Hypothecation of Power Tiller and accessories to be purchased out of Bank loan
  • For loan above Rs. 50,000: Hypothecation of Power Tiller and accessories to be purchased out of Bank loan and Charge on land or guarantee of two persons with adequate worth acceptable to the Bank.

A rebate of 1% in the said interest rate may be allowed to those borrowers who will repay the loan instalments regularly.

• Repayment: Loan should be repaid within a period of 9 years.
• Security: As per Bank’s norms
  • Hypothecation of Power Tiller and accessories to be purchased out of Bank loan