POWER TILLER - One Machine More Possibilities
Easy Cultivation : Environ-Friendly : Easier Operation : Extra ProfitsBuy It. Experience It. Reap the Benefit
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Power Tiller has the following equipment attached for your advantage and profits. Plougher (dry wet) used for alternating of soil at a depth of 12" by interchangeable double plough.
Tiller: Used for pulverizing of soil both in dry wet land by means of straight and bend dynes attached to the rotary.
Ridger: Used for making dyke in the field after cultivation for vegetables or orchards.
Ditcher: Used for making narrow drain in the field after cultivation.
Leveller: Leveller is attached to it for covering the soil.
Seed Driller: Used for sowing seeds with manure.
Sprayer: Used for spraying medicine in the field as and when required.
Pump: Used for drawing water from well or river to irrigate the field.
Harvester: Used for harvesting paddy, wheat, bajra, jowar etc.
Thrasher: Used for separating grain from plant after harvesting.
Flour Mill: Used for making flour from grain.
Generator: Used for generating current approx 7.5 kv for lighting, pumping etc.
Stone Cutter: Used for cutting of laterite stone, sold as a brick.
Weeder: Used to clear weeds in the field which in turn forms composite manure.
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Easy Cultivation : Environ-Friendly : Easier Operation : Extra Profits
State Bank of India+
State Bank of Mysore+
Corporation Bank+
Bank of Maharashtra+
Allahabad Bank+
A rebate of 1% in the said interest rate may be allowed to those borrowers who will repay the loan instalments regularly
Bank of India+
Terms of Finance
- Rate of interest: As per SBI Policy
- Margin on primary security : 10%
- Funding of Power Tiller, Accessories, Agricultural Implements
Other Terms & Conditions
Security- For loans upto Rs. 50,000/-
- Primary – Hypothecation of power tiller, accessories and implements purchased out of Bank's finance
- Collateral – Nil
- 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)
State Bank of Mysore+
Terms of Finance
- 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
Funding Structure
| Product | Finance Amount in % | Margin Money | Rate of Interest |
|---|---|---|---|
| Power Tiller | 90% | 10% | 10.75% p.a irrespective of the limit |
| Implements | 90% | 10% |
Other Terms & Conditions
- 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
Corporation Bank+
Terms of Finance
- Repayment period – 5 -9 years from the date of disbursement, depending upon the machinery to be purchased
Funding Structure
| Product | Finance Amount in % | Margin Money | Rate of Interest |
|---|---|---|---|
| Power Tiller | 90% | 10% | Rate of interest - Upto Rs. 2 lakhs - 9.00% Above Rs. 2 Lakhs - 9.50% |
| Implements | 90% | 10% |
Other Terms & Conditions
- 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
Bank of Maharashtra+
Terms of Finance
- Loan quantum will be 90% of invoice value (including registration and life tax)
- Rate of interest - As per Bank's norms
Other Terms & Conditions
- 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.
Allahabad Bank+
Terms of Finance
| Loan Limit | Rate of Interest per annum |
|---|---|
| Rs. 50,000/- | 8.5% |
| Above Rs. 50,000/- & upto Rs. 2 lacs | PLR – 1% i.e. 10% |
| Above Rs. 2 lacs & upto Rs. 5 lacs | PLR -0.25% i.e. 10.75% |
| Above Rs. 5 lacs | PLR + 2% i.e. 13% |
Other Terms & Conditions
- 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
Bank of India+
Terms of Finance
A rebate of 1% in the said interest rate may be allowed to those borrowers who will repay the loan instalments regularly.| Loan Limit | Rate of Interest per annum |
|---|---|
| Rs. 50,000/- | 8.5% |
| Above Rs. 50,000/- & upto Rs. 2 lacs | 1% |
| Above Rs. 2 lacs & upto Rs.10 lacs | 10.75% |
Other Terms & Conditions
- 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
