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  Purchase of a New Tractor:


(For Punjab farmers only) Agricultural Banks have been helping farmers by giving them loan for purchasing a new tractor.


Each bank may have a different set of terms & condition for interest rate, security etc. But there are other terms and conditions, which have been laid down by various banks which must be fulfilled before applying for loan to purchase a tractor. The details of these eligibilities are given below:-

1. A farmer must have a minimum of six acre of irrigated land or equivalent.
2. A farmer must have its own arrangement for agricultural or leased land for the use of tractor for 1000 hours per year.
3. Before the purchase of tractor a farmer must have a trolley and three attachment equipments for the tractor.
4. For the first-time purchase, a farmer has to contribute 15% of the total cost of tractor while at the second time, 30% of the total cost will have to be borne by him.
5.The loan is given only on those tractors which are as per the specification of I.S.I. It must have been tested and certified by the Central Tractor Machinery Training and Testing Institute, Budni. for purchase loan.
7. On the authorisation of a farmer, the payment of tractor will be given by the bank to to the manufacturer or the dealers appointed by it.
8. The tractor must be registered with the respective transport authority which must have a complete record of its hypothecation.
9.Tractors must be fully insured and hypothecated in favour of the Bank.
10. For the first time, loan taken for the purchase of tractor the loan will have to be refunded in nine years along with interest in equal half yearly installments. For the second purchase of tractor, the loan has to be refunded in seven years; other terms & condition will remain the same as for the purchase of the first tractor.
11. Before applying for loan for the second time, the farmer must completely repay the loan amount for the first tractor, along with the interest money. There must be a minimum gap of three years between the first and the second loan.

For further details, contact any branch of the Primary Agricultural Development Bank in your district

Name of the District & PADB

1)Amritsar:- Amritsar Ajnala, Tarantaran, Bhikhi Vind, Chauhla sahib, Baba Bakala, Lapoke-Chogava
2)Bathinda:- Bathinda, Nabana, Rampura Phul3)Mansa:- Mansa, Sardulgarh, Budhladha
4)Faridkot:- Faridkot, Jaiton
5)Moga:- Moga, Nihalsingh Purana6)Muktsar:- Muktsar, Malaut, Gidderbala, Lambi
7)Ferozepur:- Ferozepur, Abohar, Fazilka, Zeera, Guru Har Sahai, Jalalabad
8)Gurdaspur:- Gurdaspur, Batala Pathankot
9)Jalandhar:- Jalandhar10) Hoshiarpur:- Hoshiarpur, Dasuha, Garhshankar, Mukerian, Mahalpur
11) Navan Shahar:- Navan Shahar, Bunga, Balachaur
12) Kapurthala:- Kapurthala, Phagwara, Sultanpur, Bhullabh
13) Ludhiana:- Ludhiana, Doraha, Jagraon, Samrula, Khanna, Raikot Malaud
14) Patiala:- Patiala, Devigarh, Nabha, Dera Bassi, Samana, Ghanaur, Patran
15) Ropar:- Ropar, Anandpur sahib, Kharar
16) Sangrur:- Sangrur, Barnala, Tapa, Malerkotla17) Fatehgarh Sahib:- Bassi Pathana, Sarhind, Khamano, Amloh
Total Banks = 84


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