Tractor loan interest rates
Rates move, and the one you are offered depends as much on your file as on the lender.
| Lender | Type | Interest rate | Max tenure | Processing fee |
|---|---|---|---|---|
| State Bank of India | BANK | On request | — | On request |
| HDFC Bank | BANK | On request | — | On request |
| ICICI Bank | BANK | On request | — | On request |
| Axis Bank | BANK | On request | — | On request |
| Punjab National Bank | BANK | On request | — | On request |
| Bank of Baroda | BANK | On request | — | On request |
| Canara Bank | BANK | On request | — | On request |
| Union Bank of India | BANK | On request | — | On request |
| Bank of India | BANK | On request | — | On request |
| Indian Bank | BANK | On request | — | On request |
| Kotak Mahindra Bank | BANK | On request | — | On request |
| IndusInd Bank | BANK | On request | — | On request |
| Mahindra & Mahindra Financial Services | NBFC | On request | — | On request |
| Shriram Finance | NBFC | On request | — | On request |
| L&T Finance | NBFC | On request | — | On request |
| Cholamandalam Investment and Finance | NBFC | On request | — | On request |
| TVS Credit Services | NBFC | On request | — | On request |
| HDB Financial Services | NBFC | On request | — | On request |
| Sundaram Finance | NBFC | On request | — | On request |
| Regional Rural & Cooperative Banks | COOPERATIVE | On request | — | On request |
Rates and fees are as published by each lender and change without notice. They are indicative and for comparison only — the rate you are offered depends on your credit profile, land holding, tenure and the scheme the loan is booked under. Confirm the current figure with the lender before you decide.
What actually moves your rate
The advertised rate is the best case. Where you land inside a lender's band — or outside it — comes down to a handful of things, most of which you can influence before you apply.
Things you control
- Margin money. The more of the price you fund yourself, the less risk the lender carries, and the better they price it.
- Credit record. Clearing an overdue account before applying is the highest-return hour of work available to you.
- Tenure. Shorter loans often price better, and always cost less in total.
- Where you apply. Your existing bank has information about you that a new lender has to price for not having.
Things you do not
- The policy rate, which moves the floor under everyone's pricing.
- Whether a subvention scheme is live in your state or crop for that season.
- The lender's own appetite, which changes by quarter and by district.
One number to insist on. Ask every lender for the total amount repayable over the full tenure, in rupees, including the processing fee. It collapses rate, tenure and charges into a single comparable figure — and it is remarkably clarifying about which offer is really cheapest.
Check your loan eligibility
A two-minute check. No effect on your credit score.