SBI Stree Shakti Tractor Loan (SSTL) Scheme

SBI Stree Shakti Tractor Loan (SSTL) Scheme extending hassle free Tractor Loans to farmers with women as co-borrowers having minimum of 2 acres of agriculture land. The Stree Shakti Tractor Loan (SSTL) Scheme provides competitive rate of interest and shorter repayment period to its customers. You can find another SBI Stree Shakthi Bank Loan aiming to empower women entreprenures in the SME sector.

SBI Stree Shakti Tractor Loan (SSTL) Scheme

Eligibility for SBI Stree Shakti Tractor Loan (SSTL) Scheme

  1. A women co-borrower is required to get sanctioned the SBI Stree Shakti Tractor Loan (SSTL).
  2. Minimum of 2 acres of agriculture land should hold in the name of borrower(s).
  3. Minimum net annual income should be Rs.1.5 lakhs from farm activity or custom hiring or other sources of the borrower(s).
  4. EMI to NMI ratio shall not exceed 0.6.

Margin for SBI Stree Shakti Tractor Loan (SSTL) Scheme

  1. SSTL without Collateral security: Minimum of 50%.
  2. SSTL with Collateral security: Minimum margin 10%.

Primary Security for SBI Stree Shakti Tractor Loan (SSTL) Scheme

  1. Hypothecation of tractor & accessories.
  2. Insurance: The tractor and accessories purchased with bank's finance have to be comprehensively insured for the full value.

Collateral Security for SBI Stree Shakti Tractor Loan (SSTL) Scheme

  1. SSTL without Collateral: Nil
  2. SSTL with Collateral:
    1. Mortgage of immovable properties is not envisaged.
    2. Security of gold ornaments, NSC, Time Deposits (advance value of gold ornaments, time deposits, NSC) to the extent of a minimum 30% will be obtained.

Repayment of SBI Stree Shakti Tractor Loan (SSTL) Scheme

  1. SSTL without Collateral: Maximum 36 EMI with 1 month moratorium.
  2. SSTL with Collateral: Maximum 48 EMI with 1 month moratorium.

Interest for SBI Stree Shakti Tractor Loan (SSTL) Scheme

  1. SSTL without Collateral security: 1.75% above Base Rate.
  2. SSTL with Collateral security: 1.50% above Base Rate

Upfront fee for SBI Stree Shakti Tractor Loan (SSTL) Scheme

Normal fee will be charged (1.25% of loan amount at present)

Documents Required for SBI Stree Shakti Tractor Loan (SSTL) Scheme

Pre Sanction

  1. Duly filled in application form
  2. 3 latest passport size photographs
  3. Identity proof - Voter ID card, PAN card, Passport, Aadhaar card
  4. Address proof: Voter ID card, Passport, Aadhaar card
  5. Documentary proof of land
  6. Income proof (Certificate from revenue authority)
  7. Quotation of tractor issued by dealer to customer

Pre Disbursement

  1. Duly executed loan documents
  2. 6 Post Dated Cheques.

Post Disbursement

  1.  RC book with hypothecation charge in favor of SBI
  2. Original invoice/bill issued by dealer to the customer
  3. Comprehensive insurance copy

How to Apply for SBI Stree Shakti Tractor Loan (SSTL) Scheme?

Contact nearest Branch engaged in Agricultural advance for application & further details.

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