Tractor Loan - Features & Benefits

Name: Tractor Loan
Brand: Mahindra Finance

Flexible loan payment

Quick disbursal within two days
after loan approval

Loan is available for
a wide range of tractors

Stress-free loan sanction
without mortgaging land

Easy and flexible documentation

Tractor Loan - Eligibility & Documents

All customers owning a tractor or planning to buy one

Documents Required

KYC documents

Income proof to support repayment of loan

Agriculture land ownership document

Disclaimer: MMFSL reserves the right to approve/disapprove the loan after the submission of documents.

Tractor Loan - Top Up & Financing

Top Up Loan

Now avail a loan on your existing vehicle for meeting your various personal and business needs. Our Top-up Loan is designed to cater to the immediate financial need of the existing customer of Mahindra Finance. We offer competitive interest rates to ensure customer’s continued success. The top-up loan offers financial aid to fulfil your monthly obligations and maintain good credit. Our officials are trained to ensure that you receive your top-up quickly with minimal documentation.

Refinance Loan

Refinance Loan from us can help you pay off your loan quickly and save money each month. We offer competitive rates that are based on your existing tractor payment schedule. The loan period is up to 5 years and for vehicles as old as 10 years. The simple and quick process ensures that you receive your loan through speedy pay-outs. Our well trained officials will help you take informed decisions and assist you with the documentation process.

Tractor Loan - FAQs

Q1. Do I have to mortgage land to get a tractor loan?

No, the tractor loan will be available without the mortgaging of land.

Q2. What are the advantages of choosing Mahindra Finance for tractor finance?

Convenience: Minimal documentation

Reach: Strong network of branches in rural and semi-urban India

Speed: Loan approval within 2 working days

Q3. How do I approach Mahindra Finance for a tractor loan?

You can obtain your loan through any Mahindra Finance branch. You can even apply online, and receive a call back from a Mahindra Finance executive in your city or town.

Q4. What are the minimum and maximum tractor loan amounts offered?

There is no fixed minimum-maximum amount. Tractor loan amounts can be customised to suit your individual needs.

Q5. What are the tractor loan tenure options?

The minimum period is 3 months and the maximum period is 5 years.

Q6. What is the down payment?

The down payment is a balance between the vehicle price and the tractor loan amount. However, you can choose to make a higher down payment depending upon the finance option and your personal needs.

Tractor Loan - Calculate your EMI

Diverse loan offerings
Less documenation
Quick processing

Loan Amount

Tenure In Months

Rate of Interest %

EMI Amount 2,000

Principal: 75 %

Interest Payable: 25 %

For illustration purpose only

Total Amount Payable

50,000

What is Mahindra Finance Tractor Loan EMI Calculator?

An EMI calculator is an instrument that calculates the EMI and total interest payable against any specific loan amount. Mahindra Finance has introduced a Tractor Loan EMI Calculator that helps you keep track of monthly instalments (both paid and pending) after taking a loan to buy a tractor.

Mahindra Finance Tractor Loan EMI Calculator has been launched with multiple benefits and is easy to use.

Why choose Mahindra Finance?

Mahindra Finance prioritises your ease and comfort so you can avail a tractor loan without any hassle or delay. Here are some key advantages of taking a loan from Mahindra Finance:

There are no restrictions on the mode of payment.
Flexible EMI repayment options are available.
The EMI period can range from 12 months up to 60 months.
The documentation process is also very easy.
Various plans are available, and each can be customised to match your requirements.
The rate of interest is minimal and reasonable. No extra or undercover charges are involved.
All transactions are transparent. You will get an SMS update at each step.

Apply

Select your
product

Get
approved

<p>Get your loan <br /> sanctioned & <br /> disbursed</p>

Get your loan
sanctioned &
disbursed

Simple loan

application

process

Apply now

Cars are no longer a luxury today; they have become a necessity. But if you are worried about your budget, simply apply for a car loan to make your dream of owning a car come true. Mahindra Finance makes car ownership a reality as you get financing up to the full cost of the vehicle.

Thanks to a simple and quick loan application procedure from Mahindra Finance, you can have your car loan sanctioned in no time and can choose a convenient repayment schedule. This allows you to devote your time and attention to research car brands, models, and loan budget details.

How to apply for a car loan

Mahindra Finance has made its car loan application process easy so that potential car owners can have a hassle-free experience. The loan procedure is available both online and offline, and you can either visit the nearest branch or opt for our time-saving online loan process.

It involves four easy steps:

Step 1: Go to the website

The first step is to start the application process by clicking the ‘Apply Now’ button on the website. You will be directed to a page where you will see different fields to be filled in. As you read further, you will get an idea of the information needed for filling out your car loan application. You can start applying once you are ready with the details.

Step 2: Select your product

The application form for a car loan requires you to select an appropriate product from the two given options: ‘Investment’ and ‘Loan’. Choose ‘Loan'.

The next section will require you to ‘Select loan type’. It will show all the types of loans on offer that you can choose from.

Depending on the type of purchase (used or new), choose either ‘car loans’ or ‘pre-owned car loans’.

The final section in this step is entering your employment type and other personal details as applicable

Once you have done all these, go back and cross-check the details and hit ‘submit’.

Step 3: Get your loan approved

Once you fill in the details and submit the form, you will get a call back from our executive. They will ask you to share the supporting documents for the details mentioned in the car loan application form. This includes KYC documents such as PAN card, Aadhaar card, any government-issued ID, salary slip, Form 16 for eligibility check, and proof of address. These documents are required for verification.

Step 4: Get your loan sanctioned and disbursed

The final step of the car loan application is approval and disbursement of your loan amount. After verification, your loan will be sanctioned immediately, and the amount will be credited if the documents are satisfactory. If not, you might be requested to submit additional documents.

Now, wasn’t that easy and quick? So, stop dreaming about owning a new car and apply for a car loan with Mahindra Finance today!

Tractor Loan - mBlogs

Tractor Loan - mBlogs

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Tractor Loan - Customer Reviews

I am Suresh, I belong to an agricultural family. When I thought of starting up my own travels business I was helpless. Mahindra Finance supported me by offering the required loan with which I bought Mahindra Tourister. While the travels business started to pick up, I also wanted to focus on my family’s agriculture business. I was prompt with my installment payments, because of which Mahindra Finance by itself offered me another loan to buy tractor. I have recommended Mahindra Finance to my kith and kin for any loan requirement. With the support of Mahindra Finance, both my travels and agriculture businesses have improved a lot.

Suresh

I come from an agricultural background; I shared my thought of buying a tractor with my friend. He, being the existing customer of Mahindra Finance, referred me to the company for a tractor loan. The team immediately disbursed the loan amount and I got my tractor within a week. With the help of the tractor my income level has improved. I ensure promptness in my repayment. I am also planning to buy another tractor in the coming year and I will definitely prefer Mahindra Finance for the same.

Govindan

I have been associated with Mahindra Finance since 2 to 3 years now. With Mahindra Finance, I got approval in 2-3 days and disbursement within a week. I was provided with full support personally which makes it easier to deal with the loan. I have recommended Mahindra Finance to others and will continue to do so.

Sanjay Bhimraoji Rahangdale

I have been a Mahindra Finance customer for the last six years and I am very happy with their service. I first went to them in 2004 when I wanted to buy a Mahindra tractor for my two-acre land, on which I cultivate paddy. The local dealer transferred my loan proposal to Mahindra Finance.

Immediately, their representatives visited me for verification and to my surprise, the loan was granted quite promptly. Then later when I had to avail four new tractor loans, I couldn't think of anybody else other than Mahindra Finance. Since my experience with them has been so positive, I have recommended Mahindra Finance to several acquaintances in my area. I am very happy and proud to be a Mahindra Finance customer.

S. Subhash Nagercoil

I was an ordinary labourer working in a brick manufacturing plant. But I always wanted to start my own business of transporting goods. However, the major obstacle was getting finance to buy a tractor.

I approached various banks and other financial institutions and was informed that they do not offer refinance as a product. This is where Mahindra Finance came in and offered me a tractor loan without any hassles. Today, I'm my own boss and earning a respectable income. To be honest, Mahindra Finance has totally changed my life! In short, Mahindra Finance ne mujhe majdoor se malik bana diya.