Federal Agri Mobile Scheme

• Proof of land holding – Land tax receipt.
• Quotation of the vehicle to be purchased.
• Proof of Identity (Passport / Voters ID card/ Driving License/PAN Card)
• Address Proof (Ration card Tel/ Electricity Bill/ Lease agreement/ Passport/Trade license /Sales Tax certificate)
• Bank Statement (latest 6 months bank)
• In case the applicant is a firm / company, last 2 Years ITRs (computation of income) Balance Sheet and Profit & Loss a/c. Audited or Certified by a CA.
• In case finance required for Agri Allied activities, financial statements of the business for the last two years.

Used Two Wheelers & Used Three Wheelers will not be financed under the scheme.

Loan Amount

• For new vehicles - 90% of the ex showroom price.
• For Used vehicles - 80% of depreciated / market / purchase value whichever is less. Depreciation is calculated in straight line method - 15% for the first year and 10% for subsequent years.  
• Part of the year shall be counted as one year.

Period of the loan

• New Vehicle – Up to 60 months, If fully secured by collateral immovable security or 50% secured by liquid security – up to 84 months
• Used Vehicle – Up to 36 months, If fully secured by collateral immovable security or 50% secured by liquid security – up to 48 months

All other vehicles

• New Vehicle – Up to 84 months 
• Used Vehicle – Up to 48 months, If fully secured by collateral immovable security or 50% secured by liquid security – up to 60 months
• For two wheelers: maximum period 36 Months

Security 

Other conditions

• For Two / Three wheelers & Power tillers the borrower must have a minimum of 1 acre of productive agricultural land in own name or in the name of close relatives. 
• For Tractors & Four wheelers other than heavy vehicles minimum 2.50 acres of productive agricultural land in own name or in the name of close relatives.
• For Heavy vehicles Minimum 20 acres of productive land in own name or in the name of close relatives name.
• Persons engaged in allied activities, like poultry / dairy farms etc - No acreage stipulation. 
• The loans are to be granted to persons engaged in production and distribution of commodities from agriculture and allied activities. No stipulation of land holding
• Vehicles/Machinery exclusively to be hired for farming operations/ transportation of agricultural produce and other farming related activities. No stipulation of land holding.
• Net Worth : Double the loan amount.
• If no collateral is taken, Co-obligancy of spouse is mandatory.

• Please visit the Interest Rates page for details