Mahindra Finance Tractor Loan- Eligibility and Documentation

Mahindra Finance Tractor Loan- Eligibility and Documentation





Mahindra Finance is giving loan against Tractors to Farmers and Non Farmers also. Interest Rate of Mahindra Finance Tractor Loan is fall between 13.00% – 16.00%.

We give you detailed information for eligibility and required documents for Mahindra Finance Tractor Loan.






Eligibility to get Tractor Loan in Mahindra 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 Mahindra Finance Tractor Loan

Mahindra Finance demands some documents to give tractor loan. It is depends on your profile. We mentioned basic Documents required for Mahindra 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 Mahindra Finance. If you want full information regarding loan than contact us.

Note: Actual requirement may different.