FAQs - Tractor Loans

You can approach Axis Bank in any of the following ways:

• Walk into our branches/retail asset centres
• Contact our sales representative at the dealership

The financed vehicle will be hypothecated to Axis Bank Ltd. and charges of the bank will be recorded on the registration certificate of the vehicle. For mortgage cases, agricultural land of the borrower will be mortgaged in favour of the bank as per applicable state law.

The frequency permitted in particular cases will vary according to the product variants.

• Monthly
• Quarterly
• Half-Yearly

Axis bank finances tractors made by all leading manufacturers in India. Please contact our nearest branches/assets sales centres for details.

Yes, foreclosure is allowed. However the foreclosure charges of 4% would be applicable for the entire tenure.

Maximum funding upto 90% of the bank approved price on the particular tractor brand subject to underwriting norms of the bank.

Once we receive a complete application form along with the necessary supporting documents following actions are taken:

• Determination of your eligibility for the Tractor Loan: For this we consider our internal policy guidelines and examine the documents submitted by you. If you are deemed eligible, you will get an approval for a specific loan amount based on your requirement and repayment capability.
• Axis Bank will convey its decision within 30 working days from the date of receipt of the application provided the application is complete. The computation of 30 days shall start from the day on which all documents required for a proper appraisal of the application are provided by the customer to bank.

Below mentioned is the list of charges applicable after availing a Tractor Loan from Axis Bank

The excess amount is kept in SOA for 90 days  in Quarterly cases , up to 180 days in half yearly cases and upto 60 days for other payment frequency.