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Business, & agriculture finance

Tractor Loan

Term loan for a tractor and accessories, including insurance and registration charges.

Loan amount₹2 lakh to ₹25 lakhInterest rate1-year MCLR + 4.35% with no collateral; +4.00% when collateral is at least 50% but below 100% of loan value; +3.60% when collateral is at least 100%. With 1-year MCLR at 8.70% effective 15 September 2026, the indicative sums are 13.05%, 12.70% and 12.30% p.a.; these are benchmark-linked, not fixed quotations.Customer typeIndividual farmers
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Quick eligibility check

Tractor Loan

0 of 9 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: Individual farmers with at least 2 acres of agricultural land?

Published source: Eligibility

2Do you meet this requirement: CRIF Highmark above 600, CIBIL above 650 or no credit history?

Published source: Eligibility

3Do you meet this requirement: Up to 2 co-applicants may be added?

Published source: Eligibility

4Do you meet this requirement: tractor quotation/pro forma invoice?

Published source: Required documents and post-sanction steps

5Can you provide this required proof: other documents required at sanction?

Published source: Required documents and post-sanction steps

6Document checkDo you have this required document or proof: Landholding, KYC, quotation and insurance/registration documents?

Published source: Required documents and post-sanction steps

7Document checkDo you have this required document or proof: Borrower application with photograph?

Published source: Required documents and post-sanction steps

8Document checkDo you have this required document or proof: proof of agricultural land/cultivation?

Published source: Required documents and post-sanction steps

9Document checkDo you have this required document or proof: Submit the original invoice within 15 days of disbursement and the Registration Certificate copy within 30 days?

Published source: Required documents and post-sanction steps
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 25 Sept 2026 · active
Offered byState Bank of India

India

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan amount₹2 lakh to ₹25 lakhEffective 5 Feb 2026View source
The current product page states a minimum of ₹2,00,000 and maximum of ₹25,00,000.
Source
Tractor Loan Scheme —
Page / section
Features — Loan Amount
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
Tenure and repaymentUp to 5 years, with principal-equated instalments plus interest paid half-yearlyEffective 5 Feb 2026View source
states tenure up to five years and repayment through half-yearly principal-equated instalments with interest.
Source
Tractor Loan Scheme —
Page / section
Features — Tenure and Repayment
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
Margin25% of the tractor and accessories cost, including insurance and registrationEffective 5 Feb 2026View source
The margin is 25% of tractor and accessories cost, including insurance and registration charges.
Source
Tractor Loan Scheme —
Page / section
Features — Margin
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
SecurityThe financed tractor and accessories are hypothecated. Separate collateral is optional; SBI lists approved liquid securities or an equitable/registered mortgage of the applicant's land if collateral is offered.Effective 5 Feb 2026View source
The current page identifies primary hypothecation and says additional collateral is optional; it lists the accepted securities and applicant-land mortgage route.
Source
Tractor Loan Scheme —
Page / section
Features — Security; — collateral requirement
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
Interest rate1-year MCLR + 4.35% with no collateral; +4.00% when collateral is at least 50% but below 100% of loan value; +3.60% when collateral is at least 100%. With 1-year MCLR at 8.70% effective 15 September 2026, the indicative sums are 13.05%, 12.70% and 12.30% p.a.; these are benchmark-linked, not fixed quotations.Effective 15 Sept 2026View source
The exact current rate-sheet row gives 1-year and collateral spreads of 4.35%, 4.00% and 3.60%; its remarks specify collateral ≥50% and <100%, and collateral ≥100%. current page table uses slightly different exact-boundary wording (>50% to 100%, >100%); the newer rate-sheet row is used for the boundaries. The rate examples are arithmetic from the published 8.70% benchmark.
Source
Agriculture Business — Interest Rates on Loans & Advances, as on 15 September 2026
Page / section
page 1, 1-year reference; page 3, ICGL row 5 — MC-New Tractor Loan Scheme
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
Upfront / processing feeSBI's product page states 1.50% of the loan amount. Its current advances tariff separately lists 1.25%, 1.50% or 2.00% upfront-fee bands for other term loans by CRA/CUE rating, before GST; the product page does not explain which treatment controls.Effective 1 Jun 2025View source
The product-specific page, last updated 5 February 2026, says 1.50% of loan amount. current fee index still lists the 1 June 2025 AGL advances tariff, whose rating-based term-loan bands are 1.25%, 1.50% and 2.00% before . The reviewed sources do not state whether the product-page flat rate is a specific override; preserve both.
Source
Tractor Loan Scheme — ; Advances Related Service Charges — C&I, and AGL segments
Page / section
Product page — Fees & Charges; tariff pages 1–2, item 2(a), unified upfront-fee bands
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
EligibilityIndividual farmers with at least 2 acres of agricultural land; CRIF Highmark above 600, CIBIL above 650 or no credit history. Up to 2 co-applicants may be added.Effective 5 Feb 2026View source
The full eligibility section specifies the farmer landholding minimum, CRIF//no-history alternatives and the product page's two-co-applicant allowance.
Source
Tractor Loan Scheme —
Page / section
Eligibility
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
Required documents and post-sanction stepsBorrower application with photograph; tractor quotation/pro forma invoice; proof of agricultural land/cultivation; other documents required at sanction. Submit the original invoice within 15 days of disbursement and the Registration Certificate copy within 30 days.Effective 5 Feb 2026View source
The full document list and require original invoice within 15 days and copy of registration certificate within 30 days of disbursement.
Source
Tractor Loan Scheme —
Page / section
Documents Required; — post-sanction requirements
Accessed
25 Sept 2026
Confidence
high
Open official source ↗
Customer typeIndividual farmersEffective 5 Feb 2026View source
The page states 'Individual farmers.'
Source
Tractor Loan Scheme —
Page / section
Eligibility
Accessed
25 Sept 2026
Confidence
high
Open official source ↗

Benefits and features

  • ₹2 lakh–₹25 lakh
  • Up to 5 years with half-yearly instalments
  • 25% margin

Eligibility

  • Individual must hold at least 2 acres of agricultural land; up to two co-applicants may be added.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Landholding, , quotation and insurance/registration documents

Related official documents

Advances Related Service Charges — C&I, SME and AGL segmentsofficial-service-charge-document · current · accessed 25 Sept 2026
↗
SBI farm-mechanization product image endpoints — shared placeholder 404official-product-image-endpoint-review · not found after official-page and asset review · accessed 25 Sept 2026
↗
SBI Bouquet of Products & Services — Agriculture: Loan Productsofficial-pdf · current · accessed 4 Sept 2026
↗
SBI Banks Agriculture Products — current official catalogueofficial-product-catalogue · current · accessed 25 Sept 2026
↗
SBI Agriculture Segment Interest Structure as on 15 August 2026official-pdf · current · accessed 6 Sept 2026
↗
Agriculture Business — Interest Rates on Loans & Advances, as on 15 September 2026official-pdf · current · accessed 25 Sept 2026
↗
SBI Bouquet of Products and Services v3.0 — agriculture loan productsofficial-pdf · historical-reference · accessed 24 Sept 2026
↗
Tractor Loan Scheme — current SBI product pageofficial-product-page · current page reviewed · accessed 25 Sept 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹15,615fifteen thousand six hundred fifteen rupees
Interest paid over the full loan₹12,47,487twelve lakh forty-seven thousand four hundred eighty-seven rupees
Everything you repay₹37,47,487thirty-seven lakh forty-seven thousand four hundred eighty-seven rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

No collateral · Spread above 1-year 4.35%

This value is copied from Tractor Loan — collateral-linked interest-rate tiers. Check the table notes before relying on it.

Source: Agriculture Business — Interest Rates on Loans & Advances, as on 15 September 2026 · page 1 benchmark; page 3, ICGL row 5 and remarks Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 3 rows · 3 columnsTractor Loan — collateral-linked interest-rate tiersCurrent SBI rate-sheet boundaries, paired with the 1-year MCLR reference and transparent arithmetic examples.View tableHide table

Scroll sideways to view every column

Tractor Loan — collateral-linked interest-rate tiers
Collateral value as a share of loan valueSpread above 1-year Indicative sum using 8.70%
No collateral4.35%13.05% p.a.
At least 50% but below 100%4.00%12.70% p.a.
At least 100%3.60%12.30% p.a.
  • The 4.35%, 4.00% and 3.60% spreads and current tier boundaries come from page 3 row 5. The 8.70% benchmark is on page 1, effective 15 September 2026. Indicative sums are arithmetic, not fixed-rate offers. product page table has different wording at exactly 50% and 100%; the newer rate sheet is used for those boundaries.
Agriculture Business — Interest Rates on Loans & Advances, as on 15 September 2026 · page 1 benchmark; page 3, ICGL row 5 and remarks · effective 15 Sept 2026 · accessed 25 Sept 2026Open official source ↗
Table 2 · 6 rows · 2 columnsSBI agriculture term-loan upfront fee bandsCurrent tariff bands and exemptions, reused from the complete 11-page advances-fee review.View tableHide table

Scroll sideways to view every column

SBI agriculture term-loan upfront fee bands
Condition / ratingUpfront fee excluding
Agriculture term loan up to ₹2 lakhNil
Other term loan; CRA/CUE 1–41.25% of loan amount
Other term loan; CRA/CUE 5–101.50% of loan amount
Other term loan; CRA 11 or below/unrated or CUE 11 or below2.00% of loan amount
Bank loan up to ₹5 lakh to qualifying Micro/Small EnterpriseExempt if the borrower/unit meets the schedule classification
Term loan where upfront fee is recoveredNo separate loan processing charge
  • The current Composite Minor Irrigation page says its upfront fee follows extant guidelines, so this tariff supplies the applicable numeric bands. Tractor and Combine product pages each separately state a flat 1.50%; the tariff's generic rating-based bands create an unresolved scope conflict for those two schemes. is excluded from tariff amounts. Confirm the rating and classification used in sanction.
Advances Related Service Charges — C&I, and AGL segments · pages 1–2, item 2(a), unified upfront fee and exemptions · effective 1 Jun 2025 · accessed 25 Sept 2026Open official source ↗

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