Objective  

•    To enhance the farm mechanization in agriculture.
•    To encourage the use of combine harvester to ensure minimum grain loss.

Eligibility

•    Minimum acreage: 3 acres irrigated for individual
•    5 acres irrigated for joint borrowers (Dry land 15 acres).
•    Branches should finance only approved models.

Other Key points

•    Project cost can be minimum: Rs. 5.00 lacs & maximum: Rs. 35.00 lacs
•    Half Yearly Repayment. 6 Years in 12 Half Yearly Installments including gestation / moratorium period
•    Loan available only on the approved models by CFMTTI(Budni-MP) & FMTTI (Hissar)

Collateral:

•    No Collateral up to Rs. 10.00 lakhs.
•    Above Rs. 10.00 lakh: Equitable / Registered mortgage of land or Liquid Securities.
•    Third party Guarantee may be accepted in place of collateral if credit scoring is 71 or above.

Processing fee:

•    0.50% of the loan amount + GST

Documents required

•    Recent photographs of the applicant (2 copies)
•    KYC: Aadhaar Card, DL, Voter ID Card & Job Card)
•    Proof of Residence: Telephone / Electricity Bill, Voter ID
•    Card, Aadhaar, Certificate issued by Local Govt. Authority.
•    Proof of land holding
•    Estimation of Combine Harvester & Accessories.

Note – To get benefits of this scheme farmer need to reach nearest SBI branch with above mentioned documents.