Cent Farm Machinery Scheme

Purpose	* To finance purchase of Tractors, Trailers and other agricultural implements and accessories.
Eligibility	* Individuals, Partnership firms, companies, FSS, PACs engaged in agriculture and / or allied activities For Tractors- Up to 35 HP New Tractor- 2.5 acre of perennially irrigated land or 5.00 acre of non-irrigated land Above 35 HP New Tractor- 4.00 acre of perennially irrigated land or 8.00 acres of non-irrigated land.
Nature of facility	* Term Loan.
Margin	* Upto 1.60 lakh-NIL * Above 1.60Lakh- 20%
Security	* Primary * Collateral	-Hypothecation of Tractor & implements. - Hypothecation of crops. - Up to Rs1.60 lakh – NIL -Above Rs1.60 lakh –Mortgage/Charge on land (Total value of collateral security should be at least 100% of the loan amount except for combine harvester for which colateral should be 150% of the loan amount).
Insurance	Assets created out of loan have to be insured for full value.
Rate of Interest	UptoRs3,00,000/- Above Rs3.00 lakh to Rs10.00 lacs Above Rs10.00 lakhs uptos.100.00lacs Above Rs100.00 Lakhs	MCLR + 1.35% MCLR + 2.50% MCLR + 3.00% As per rating of borrower
Upfront Fee	Upto Rs 3 Lakh/- : NIL Above Rs 3 Lakh/-: 50% of 1.25% (i.e. 0.625%)
Repayment	* Within 5 to 9 years(including moratorium period of Max 12 months)