| Fee Type | Charges Applicable |
|---|---|
| Processing Fees | Up to 5.9% |
| Penal Charges (excluding GST) | 36% annually on unpaid instalments |
| Foreclosure Charges |
|
| Duplicate NDC/NOC Charges - physical copy | ₹500 |
| Bounce Charges | ₹750 |
For a complete list of charges, please Click Here
Here's all that you need to know about your eligibility for a used tractor loan.
A used tractor loan is a valuable financial product for farmers looking to buy pre-owned tractors on loan and pay them back over a specific period. It is more affordable than buying a new tractor, as second hand tractors are usually cheaper in the market. TVS Credit Services Ltd. offers a wide range of facilities on used tractor loans, including flexible repayment schedules and up to 90% funding on certain tractor brands. You can also choose from a variety of repayment methods to suit your preferences.
Worried about extensive documentation? There is minimal documentation to speed up the loan application and approval process. To this effect, there is also no need to submit traditional income documentation. In addition, there is total transparency across the entire used tractor loan process to ensure you get a fair deal. So, what’re you waiting for? Apply today to benefit from convenient used tractor loans for quick funds for second hand tractors.
Take the help of the Tractorkarvan’s Used Tractor EMI Calculator for instant EMI estimation and understanding your monthly financial commitment. It ensures clarity and transparency by showing the interest levied and the overall repayment amount. You need not get confused with complex formulas or financial expertise with our time-saving and user-friendly calculator. Using this calculator, you will not only avoid overborrowing but can also manage your finances responsibly. Simply enter the loan amount, loan period, and interest rate, and your monthly instalments will be displayed instantly. Also, you can choose a different repayment interval and get accurate estimates of your repayment amount.
Below are the eligibility criteria for a used tractor loan:
Kindly note that there can be additional charges involved other than the ones mentioned below. Main charges associated with used tractor loans are:
Loan application made easy for you in 3 simple steps:
If you need assistance with used tractor loans, fill out the form provided on the website and provide the necessary details. You will be contacted promptly to get assistance with your queries.
A used tractor loan allows you to buy a second hand tractor on easy EMIs.
The interest rate for second hand tractors may range from 14% to 34% at TVS Credit.
Up to 90% funding is available as the maximum loan amount for a used tractor.
Based on different factors, the maximum tenure may range between 48 and 60 months for a used tractor loan at TVS Credit.
