Tractor Loan in Panipat


Tractor Loan in Panipat by Top Banks and Financial Institutions

Partner with Singroha Associates for Hassle-Free Agricultural Financing Since 2020

Empower Your Farming with a Tractor Loan in Panipat

Boost your agricultural productivity in Panipat, the historic “City of Weavers” with a thriving farming community, by securing a tractor loan in Panipat from Singroha Associates. Since 2020, we’ve been helping farmers and agricultural entrepreneurs finance tractors to enhance their operations. Our expert team partners with top banks and financial institutions to offer competitive interest rates, flexible tenures, and a seamless loan process.

At Singroha Associates, we prioritize your farming goals, ensuring you get the best tractor loan in Panipat tailored to your needs. Let us guide you to hassle-free agricultural financing today!

Apply for a Tractor Loan Now

Why Choose Singroha Associates for Your Tractor Loan in Panipat?

Since our establishment in Panipat in 2020, Singroha Associates has built a reputation for trust and excellence in agricultural financing. Here’s why we’re the preferred choice for a tractor loan in Panipat:

  • Extensive Network: We collaborate with leading banks like State Bank of India, HDFC Bank, ICICI Bank, and NBFCs like Mahindra Finance and L&T Finance.
  • Low Interest Rates: Access tractor loans starting at 8.75% p.a., based on your eligibility.
  • Streamlined Process: From application to disbursal, we ensure quick and easy loan processing.
  • Customized Solutions: Tailored loan options for small farmers, large landowners, and agricultural businesses.
  • Local Expertise: Our deep understanding of Panipat’s agricultural landscape ensures the best deals.

Top Providers for Tractor Loan in Panipat

Explore the best tractor loan in Panipat options from our trusted partners. Compare key providers below:

Institution Interest Rate (p.a.) Loan Tenure Max Funding Processing Fee
State Bank of India 8.75% – 10.50% Up to 7 years Up to 90% 0.5% of loan amount (₹2,000 – ₹10,000)
HDFC Bank 9.00% – 11.25% Up to 6 years Up to 85% 0.5% of loan amount or ₹3,000 (whichever is higher)
ICICI Bank 9.25% – 11.50% Up to 6 years Up to 90% 0.5%-1% of loan amount
Axis Bank 9.50% – 12.00% Up to 5 years Up to 85% Up to 1% of loan amount (min ₹5,000)
Mahindra Finance 9.00% – 11.75% Up to 6 years Up to 90% 0.5%-1% of loan amount
L&T Finance 9.25% – 12.25% Up to 6 years Up to 90% Up to 1% of loan amount

Note: Rates and terms are indicative and subject to change. Contact us for the latest tractor loan in Panipat offers.

Loan Amount is 30000
No. of Month is 30
Rate of Interest ROI is 10
Monthly EMI

Total Interest

Payable Amount

Interest Percentage

Eligibility Criteria for a Tractor Loan in Panipat

Qualifying for a tractor loan in Panipat is straightforward with Singroha Associates. Here are the general requirements:

  • Age: 18-65 years.
  • Income: Minimum annual agricultural income of ₹2 lakh or stable income from other sources.
  • Land Ownership: Ownership of at least 2 acres of agricultural land (or equivalent lease agreement).
  • Credit Score: 700+ preferred for better rates, but lower scores may be considered.
  • Residence: Valid proof of residence in Panipat or nearby rural areas.

Documents Required for a Tractor Loan in Panipat

To apply for a tractor loan in Panipat, submit the following documents:

  • Identity Proof: Aadhaar, PAN, Passport, or Voter’s ID.
  • Address Proof: Electricity Bill, Rent Agreement, or Ration Card.
  • Income Proof: Agricultural income records, ITR for 2 years, or bank statements for 12 months.
  • Land Documents: Land ownership papers, lease agreement, or Khasra/Khatuni records.
  • Tractor Details: Quotation or invoice from the tractor dealer.
  • Photographs: Two passport-size photos.

Our Hassle-Free Tractor Loan Process in Panipat

We make securing a tractor loan in Panipat simple with these steps:

  1. Consultation: Discuss your farming needs and tractor requirements with our experts.
  2. Loan Comparison: We find the best tractor loan in Panipat options.
  3. Documentation: We assist with paperwork for a smooth process.
  4. Approval: Fast-track loan disbursal for quick results.
  5. Enhance Farming: Start using your new tractor to boost productivity!

Get Started Today

Frequently Asked Questions About Tractor Loans in Panipat

What is the minimum credit score needed for a tractor loan in Panipat?

A credit score of 700 or above is preferred for securing a tractor loan in Panipat with competitive interest rates. However, Singroha Associates can assist applicants with lower scores by exploring suitable lenders.

How long does it take to get a tractor loan approved in Panipat?

With Singroha Associates, tractor loan approvals in Panipat typically take 5-10 days, depending on the lender, documentation, and verification of land and tractor details. We expedite the process for faster disbursal.

Can tenant farmers apply for a tractor loan in Panipat?

Yes, tenant farmers can apply for a tractor loan in Panipat if they have a valid lease agreement for at least 2 acres of agricultural land, along with other required documents like income proof and identity.

What is the maximum loan amount for a tractor loan in Panipat?

The maximum loan amount depends on the lender, with most offering up to 90% of the tractor’s cost, as shown in our comparison table. Factors like income, land ownership, and credit score influence the loan amount.

Are there any subsidies available for tractor loans in Panipat?

Yes, some government schemes like the Sub-Mission on Agricultural Mechanization may offer subsidies on tractor purchases. Singroha Associates can guide you on eligibility and application for such subsidies in Panipat.