Agri Equipment Loan
Plow and Plant your crops with MUDHALPADI!
In the mission to support micro and small-scale farmers, MUDHALPADI takes great pride in extending financial assistance to those aiming to enhance their agri-business. This signifies that these farmers are progressing towards the goal of becoming substantial agricultural entrepreneurs (பெரு விவசாயி).
Tenure
Upto 60 Months
Interest Rate
12 - 25%
Processing Fee
Upto 3.5%
Penal Charges
Upto 4.5%
Features and Benefits
Flexible Tenure
You can choose your loan tenure
Credit Enhancement
Customer is eligible for top-up of loan amount after 12 months EMI are repaid.
Eligibility
- Nationality: The farmer should be Indian
- Nature of Business : Farming and agriculture business
- Credit Score: 685 or higher
- Age: 21 years to 75 years
- Business vintage: Eligibility will be reviewed on a case to case basis
- Work status: Self-employed / Farmers / firms involved in agri activity
- Applicant should hold minimum 2 acre Agricultural land for Agri Equipment loan
Required Documents
Photo Identity Proof
- Aadhar Card
- PAN Card
- Voter Id
- Valid Passport
- ID Proof issued by Panchayat
- Updated Bank passbook with Photo attestation by Nationalized Bank/Pvt Bank
Address Proof
- Aadhar Card
- Ration Card
- Voter Id
- Electricity Bill
- Valid Passport
- Updated Bank Passbook of Nationalized Bank/Pvt Bank with same address
*Please choose any 2 documents from each photo identity proof and address proof list.
Income Proof and other Documents
- MSME Certificate
- Farmer's Certificate
- Proof of farming business
- Copy of Registered Partnership Deed if any
- 6 Months Bank Statement of the borrower
- Copies of all existing facility/ sanction letters
- Income Tax Returns
- Crop details,including cultivation plans and expected yields
- Copy of monthly and quarterly GST Returns
- Financial Statements
Collateral Documents
- Title Document
- Proof of agricultural land
- Pledge agreement
- Tax Certificate
- Non - encumbrance letter
- No objection Letter and other documents as per sanction
Approach Of Gradation Of Risk
- Profile and market reputation of the borrower
- Group strength, overall customer yield, future potential
- Customer Credit Profile, repayment capacity based on cash flows and other financial commitments of the borrower, mode of payment
- Type of Loan, Ticket Size of the loan, nature of facility, loan to value of asset financed
- Tenure of relationship with the borrower group, past repayment track record and historical performance of our similar clients
- Purpose of the loan applied by the underlying asset, ROA expectation
- Nature of lending i.e; secured / unsecured along with value of primary and secondary collateral / security in secured loan
- Interest, default risk in related business segment
- Regulatory stipulations, if applicable
- any other factors that may be relevant in a particular case.