Features and benefits
Eligibility criteria
How to apply
Fees and charges
Frequently asked questions

Used Tractor Loan

Minimal documentation | Funds up to Rs. 8 lakh | Tenure up to 60 months

Trusted by 3 lakh+ customers

Used Tractor Loan

Minimal documentation | Funds up to Rs. 8 lakh | Tenure up to 60 months

Key features

Watch video ‌

Up to 95% funding of tractor value

Get a high-value loan and finance your tractor purchase with ease.

Minimal documentation

Take advantage of minimal paperwork, ensuring a fast and hassle-free process.

Loan up to Rs. 8 lakh

Get funds up to Rs. 8 lakh for your tractor or farming needs.

Key features

Watch video ‌

Up to 95% funding of tractor value

Get a high-value loan and finance your tractor purchase with ease.

Minimal documentation

Take advantage of minimal paperwork, ensuring a fast and hassle-free process.

Loan up to Rs. 8 lakh

Get funds up to Rs. 8 lakh for your tractor or farming needs.

Calculate your tractor loan EMIs

Instantly estimate your monthly instalments on your loan and interest payable.

Features and benefits

Features and benefits of a Used Tractor Loan

High-value finance

Benefit from our asset-based financing. Get up to 100.00% of the tractor’s value at a competitive interest rate with our used tractor loan.
Loan up to Rs. 18 lakh

Get funds up to Rs. 18 lakh and fund your used tractor purchase with ease.
Multiple tenure options

Repay your loan easily with tenure ranging from 12 months to 61 months.

Eligibility and documents

Bajaj Finance offers used tractor loan that comes with simple eligibility criteria and minimal paperwork.

What are eligibility criteria for Tractor Loan

Eligibility criteria

Nationality: Indian
Age: 18 years to 80 years*
Customer profile: Salaried, farmers, self-employed individuals, and proprietorship

*Age should be 80 years or less at the end of the loan tenure.

Documents required

PAN Card
KYC documents – Aadhar Card, Voter ID Card.
Bank account statements

How to apply for a used tractor loan

How to Apply for a Used Tractor Loan

A step-by-step guide to applying for a used tractor loan

1. Click on ‘APPLY’ text on this page to open the application form.

2. Fill in the form with your personal and asset details.

3. Submit the online application form.

Once you have submitted the form, our representative will connect with you to guide you on further steps.

Type of fee	Applicable charges
Rate of interest	Up to 26% p.a.
Processing fees	Up to 3% of the loan amount (inclusive of applicable taxes).
Documentation charges	Up to Rs. 4,720 (inclusive of applicable taxes).
Stamp duty	Payable as per state laws and deducted upfront from the loan amount.
Prepayment charges	Full prepayment (foreclosure) charges Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount payable by the borrower on the date of such full prepayment. Part-prepayment charges Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.
Bounce charges	Rs. 1,000 per bounce. “Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason
Penal charge	Delay in payment of instalment (s) shall attract Penal Charge at the rate of 24% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Repossession of Vehicle Charges	Recovery of Charges
Vehicle Valuation Charges	Recovery of Charges
Auction Charges	Recovery of Charges
Legal and Other Incidental charges	Recovery of Charges
Stockyard charges	Recovery of Charges
NOL (No Objection Letter) charges (To convert from private to commercial or interstate transfer)	Up to Rs. 500 (inclusive of applicable taxes)
Loan rebooking charge	Up to Rs. 1,000 (inclusive of applicable taxes) – In case of rebooking requested by customer
Loan cancellation charge	Up to Rs. 2,360 (inclusive of applicable taxes) - In case of cancellation requested by customer. Interest till cancellation to be borne by customer. Cancellation allowed till 90 days post disbursal date.

Frequently asked questions

Overview

Instalment

Repayment

What is a used tractor loan?

Bajaj Finance offers high-value used tractor loan of up to Rs. 18 lakh. You can qualify for this loan by meeting some basic eligibility criteria and submitting a few documents.

What is the maximum amount I can get for a used tractor?

Bajaj Finance offers used tractor loans of up to Rs. 18 lakh. This high-value loan allows you to fund your tractor purchase with ease.

What are the benefits of a used tractor loan?

Used tractor loans give you access to a high-value loan and help you purchase your tractor easily. Bajaj Finance offers used tractor loans that come with simple eligibility criteria and minimal documentation.

How is the EMI for used tractor loan is calculated?

The EMI for a used tractor loan is calculated based on the loan amount, interest rate, and loan tenure. Lenders typically use the reducing balance method, where interest is calculated on the outstanding principal. The EMI formula is:

EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]

Where:

• P = Loan amount
• r = Monthly interest rate
• n = Loan tenure (in months)

What are the tenure options for a used tractor loan?

With a Bajaj Finserv Used Tractor Loan, you can benefit from flexible repayment tenures ranging from 12 months to 61 months.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.

Used Tractor Loan

Key features

Key features

Calculate your tractor loan EMIs

Features and benefits

Eligibility and documents

How to apply for a used tractor loan

Fees and charges of used tractor loan