l & T Finance Tractor Loan- Eligibility and Documentation

l & T Finance Tractor Loan- Eligibility and Documentation





L & T Finance is giving loan against Tractors to Farmers and Non Farmers also. Interest Rate of L & T Finance Tractor Loan is fall between 10.75% – 15.00%.

We give you detailed information for eligibility and required documents for L & T Finance Tractor Loan.






Eligibility to get Tractor Loan in L & T Finance

Here, there are two parts for tractor loans. One is loan for farmer and loan for commercial customer. We mentioned basic eligibility for both of them.

Eligibility for Farmer

  • Minimum 18 years of age
  • Maximum age of 60 on the date of funding
  • Minimum income of Rs. 1 lakh per annum
  • Minimum 2 acres of agricultural land required
  • Residential stability of 2 years
  • Good CIBIL score
  • Margin money deposit

 




Eligibility for Commercial Customer

  • Minimum 18 years of age
  • Maximum age of 60 on the date of funding
  • Minimum income of Rs. 1.50 lakh per annum
  • A telephone line (Owned, PP Landline or Mobile) is mandatory
  • Good CIBIL score

 

Required Documents for L & T Finance Tractor Loan

L & T Finance demands some documents to give tractor loan. It is depends on your profile. We mentioned basic Documents required for L & T Finance Tractor Loan.

PhotographLatest Color Photograph
Identity proof (Any One)Voter ID Card / PAN Card / Passport / Driving License / Aadhar Card / Govt. issued document + Photograph / Bank Sign Verification + Photo
Age Proof (Any One)Voter ID Card with Date of Birth / PAN Card / Passport / Driving License / Aadhar Card / Govt. issued document with date of birth / Marks Sheet with date of birth
Sign Verification (Any One)PAN Card / Driving License / Passport / Bank Signature Verification
Ownership Proof (Any One)Electric Bill / Tax Bill / Water Bill / Possession Letter + Utility Bill / Power of Attorney + Utility Bill / Index copy + Utility Bill
Income Proof7/12 & 8A extract (In case of agricultural use)/ Work Order / Contract Copy (In case of commercial use)/ RC Book copy of existing vehicle (In case of commercial use)/ ITR & Financials of last 2 years
Bank StatementLast 6 months Bank statement of all bank accounts

 

Above mentioned information gives you basic details to get Tractor Loan from L & T Finance. If you want full information regarding loan than contact us.

Note: Actual requirement may different.