Gurgaon Gramin Bank is a Regional Rural Bank, Sponsored by Syndicate Bank having its Head Office at Gurgaon. Bank is having Tie-up arrangement with 166 Companies or Corporate providing personal loan, House Building Loans, Vehicle Loans & Educational Loans.
PURPOSE – Providing loanfor purchase of Tractors and Accessories.
ELIGIBILITY – Farmers should own and cultivate minimum 2.5 acre of perennially irrigated land up to 35 HP, 3.5 to 6 acre for a tractor above 35 HP to 50 HP & more than 6 acres for above 50 HP tractors for branches in Gurgaon, Faridabad, Palwal, Rewari, Mahendergarh & Sonepat Districts. For Branches in Mewat District land holding shall be 4 acres of perennial irrigated land up to 35 HP, more than 4.0-6.0 acres for tractor above 35 HP to 45 HP & above 6 acres for tractors of above 45 HP.
QUANTUM OF LOAN – 90% to 95% of the cost
MARGIN – Minimum 5% to 10%
RATE OF INTEREST – Up to 2 lakhs : 10.50% p.a., Above 2 lakhs : 11.50% p.a.
SECURITY – SRM of Agriculture land of double value of security & Hypothecation of Tractor.
PAYMENT – 9 years