Farm Equipment Loan in Chennai: Farm Equipment Loans are loans that can be availed for the purchase of new tractors, tractor attachments, trailers, harvesters, and other accessories utilized for carrying out agricultural activities. The farm equipment loans also include machinery used for Land Preparation, Field Maintenance and Handling Equipments. Farm equipment loans can be availed by anyone who can be an individual, institution or organization having a regular source of income from farming activities.
Farm Equipment Loan in Chennai
- You can avail Farm Equipment loan through hassle-free loan procedure with minimum documentation process and door-step financing of the farm of your choice.
- Your Farm Equipment Loan can be processed quickly.
- You can repay your farm equipment loan through a loan repayment tenure of up to 5 years
- You can make payment of your farm equipment loan through flexible repayment options such as equated monthly instalments (EMI) as well as postdated cheques as per your convenience
- Farm equipment loans come with fixed rate of interest throughout the tenure
- Under farm equipment loan schemes non- mortgage loans are available. Whereas in certain cases a mortgage of landed property valued equivalent of 100% of farm equipment loan value need to be submitted as collateral towards your loan.
- You can avail farm equipment loan with low processing fee and nominal rate of interest upto 12.50%.
- You farm equipments purchased through finance are insured comprehensively for the full value of the farm equipment loans to avoid the loss in case of any unfortunate event and full recovery at the time of loss.
- The borrower should be an owner of approximately 3 acres to avail farm equipment loan in Chennai.
- You should be at least 18 of age at the time of sanctioning of your loan
- You should be 65 years of age by the end of loan tenure
- Proof of Identity
- Self-Attested Photographs
- Proof of Address
- Proof of Signature
- Adequate age proof document issued by government authority
- Nativity Proof / Domicile
- Post-Dated Cheques
- Land Extracts
Farm Equipment Loan in Chennai can be availed by signing up on Letzbank which is an online portal and one stop shop for all kinds of loans. Once you sign up on the portal you will be required to fill in a simple application form. Once you submit your application for availing farm equipment loans in Chennai our customer care executives will get back to you and assist you in availing the best possible farm equipment loan in Chennai. Letzbank offers “100% Free Services” to all our customers who submit applications online.