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Used Tractor Loan

Minimal documentation | Funds up to Rs. 18 lakh | Tenure up to 61 months
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Finance your used tractor with ease
 
 
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Get a loan for your used tractor
 
 
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Trusted by 3 lakh+ customers

Used Tractor Loan
Minimal documentation | Funds up to Rs. 18 lakh | Tenure up to 61 months

Key features

Watch video ‌
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Up to 100% funding of tractor value

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

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Minimal documentation

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

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Loan up to Rs. 18 lakh

Get funds up to Rs. 18 lakh for your tractor or farming needs.

Key features

Watch video ‌
/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/tractor-finance/feature-icon/utf-feature-icons/Tractor_UTL_Feature_Icon_1_Image.png
Up to 100% funding of tractor value

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

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/tractor-finance/feature-icon/utf-feature-icons/Tractor_UTL_Feature_Icon_2_Image.png
Minimal documentation

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

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/tractor-finance/feature-icon/utf-feature-icons/Tractor_UTL_Feature_Icon_3_Image .png
Loan up to Rs. 18 lakh

Get funds up to Rs. 18 lakh for your tractor or farming needs.

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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
 

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.

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Eligibility and documents

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

Finance your used tractor with ease
 

Finance your used tractor with ease

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
 

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.

Fees and charges of used tractor loan

Type of feeApplicable charges
Rate of interestUp to 23% p.a. p.a.
Processing feesUp to 3% of the loan amount (inclusive of applicable taxes).
Documentation chargesUp to Rs. 3,481 (inclusive of applicable taxes).
Stamp dutyPayable as per state laws and deducted upfront from the loan amount.
Prepayment chargesFull 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

Up to 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 chargeDelay 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 ChargesRecovery of Charges
NOL (No Objection Letter) charges

(To convert from private to commercial or interstate transfer)

Up to Rs. 500 (inclusive of applicable taxes)


(To be charged separately for Tractor and Registered Implements)

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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Watch our videos

Understanding repayment schedules of Used Tractor Loan
 
 

Understanding repayment schedules of Used Tractor Loan

Get a loan for your used tractor
 
 

Get a loan for your used tractor

Top 5 benefits of taking Used Tractor Loan with us
 
 

Top 5 benefits of taking Used Tractor Loan with us

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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*.