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Bank of Maharashtra Farm Mechanization Loan

Up to ₹25 lakh for new or second-hand tractors, power tillers, combine harvesters, threshers, sprayers and other farm machinery, repayable over five to nine years.

Interest rateNew machinery: current 10.50% p.a. up to ₹10 lakh and 11.50% above. Second-hand tractors: current 12.50% p.a.Maximum amount₹25 lakh.TenureFive to nine years, depending on machinery purpose.
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Quick eligibility check

Bank of Maharashtra Farm Mechanization Loan

0 of 9 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your annual income meet this requirement: No salary floor?

Published source: Landholding eligibility

2Do you meet this requirement: Tractor: 3 perennial/8 seasonal acres?

Published source: Landholding eligibility

3Do you meet this requirement: power tiller: 1.5/5 acres?

Published source: Landholding eligibility

4Do you meet this requirement: combine harvester: 6/15 acres?

Published source: Landholding eligibility

5Do you meet this requirement: other listed machinery: no land minimum?

Published source: Landholding eligibility

6Document checkDo you have this required document or proof: Form 138 and Enclosure B2?

Published source: Landholding eligibility

7Document checkDo you have this required document or proof: 7/12, 8A, 6D and boundary records?

Published source: Landholding eligibility

8Document checkDo you have this required document or proof: No-dues certificates including PACS?

Published source: Landholding eligibility

9Document checkDo you have this required document or proof: Legal search above ₹1.60 lakh where land is mortgaged?

Published source: Landholding eligibility
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Offered byBank of Maharashtra

India

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Loan typeAgriculture term loan for tractors and farm machinery.View source
New and used equipment list preserved.
Source
Farm Mechanization
Page / section
Facility; Purpose
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rateNew machinery: current 10.50% p.a. up to ₹10 lakh and 11.50% above. Second-hand tractors: current 12.50% p.a.View source
All three exact formulas calculated from current 9.00% one-year .
Source
Farm Mechanization and current notice
Page / section
Rate; page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkOne-year MCLR 9.00% + BSS 0.50% + 1.00%/2.00% for new machinery or +3.00% for second-hand tractors.View source
Current with product-specific spreads.
Source
effective 25.07.2026
Page / section
Page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNot published.View source
No fee-inclusive appears.
Source
Farm Mechanization
Page / section
Complete page and schedules
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Landholding eligibilityNo salary floor. Tractor: 3 perennial/8 seasonal acres; power tiller: 1.5/5 acres; combine harvester: 6/15 acres; other listed machinery: no land minimum.View source
Every equipment-specific threshold preserved.
Source
Farm Mechanization
Page / section
Land Holding Criteria
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum amount₹25 lakh.View source
Published maximum.
Source
Farm Mechanization
Page / section
Amount
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
TenureFive to nine years, depending on machinery purpose.View source
Published range.
Source
Farm Mechanization
Page / section
Repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Processing feeNil up to ₹5 lakh; 1% above ₹5 lakh to ₹25 crore.View source
Agriculture term-loan row.
Source
Service Charges
Page / section
page 81
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment charge2% of prepaid amount when prepayment exceeds 25% of sanctioned limit; nil below that outstanding threshold; MSEs exempt.View source
Current all-credit rule.
Source
Service Charges - All Credit
Page / section
Term-loan prepayment row
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Maximum ₹25 lakh
  • New and second-hand tractor finance
  • Power tiller, combine harvester, thresher and sprayer finance
  • Five to nine years
  • No land minimum for threshers, sprayers and other machinery

Eligibility

  • Tractors require three perennial-irrigated or eight seasonal-irrigated acres; power tillers require 1.5 or five acres; combine harvesters require six or 15 acres plus viable custom hiring. Other listed machinery has no minimum landholding.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Form 138 and Enclosure B2
  • 7/12, 8A, 6D and boundary records
  • No-dues certificates including PACS
  • Legal search above ₹1.60 lakh where land is mortgaged
  • Dealer quotation, plan estimate and permission
  • RC hypothecation and two signed blank TTO forms for tractor
  • Guarantee Form F-138 and guarantor records

Related official documents

Marginal Cost of Funds Based Lending Rates with effect from 25.07.2026official-pdf · current · accessed 31 Aug 2026
↗
Farm Mechanizationofficial-product-page · current · accessed 31 Aug 2026
↗
Bank of Maharashtra Service Charges - Commercial, MSME and Agriculture Creditofficial-pdf · current · accessed 31 Aug 2026
↗

Plan before applying

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Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

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Facility · Published detailTerm Loan

This value is copied from Farm Mechanization - complete published scheme table. Check the table notes before relying on it.

Source: Farm Mechanization · Complete table Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 11 rows · 2 columnsFarm Mechanization - complete published scheme tableView tableHide table

Scroll sideways to view every column

Farm Mechanization - complete published scheme table
ParticularPublished detail
FacilityTerm Loan
PurposeNew/used tractor/trailer; power tiller; combine harvester; thresher; sprayer; other machinery
EligibilityIndividual/joint landholders
LandholdingTractor 3/8 acres; power tiller 1.5/5; combine 6/15 plus custom-hiring viability; other machinery none
AmountMaximum ₹25 lakh
MarginNil to ₹2 lakh; above: new tractor/tiller/combine 15%, used tractor 40%, other machinery 25%
RateNew: current 10.50% to ₹10 lakh/11.50% above; used tractor 12.50%
SecurityUp to ₹2 lakh hypothecation; above plus two guarantees/land mortgage; RC charge and two blank TTO forms
Repayment5-9 years
ConditionsOnly tested tractor models; RTA registration with bank clause; comprehensive insurance; machinery hypothecation display; tie-up MOU terms
DocumentsForm 138/B2; land/boundary records; no-dues/PACS; legal search; quotations/permissions; guarantee/guarantor records
Farm Mechanization · Complete table · accessed 31 Aug 2026Open official source ↗
Table 2 · 5 rows · 3 columnsBank of Maharashtra MCLR effective 25 July 2026View tableHide table

Scroll sideways to view every column

Bank of Maharashtra MCLR effective 25 July 2026
TenorResidual maturity p.a.
Overnight1 day7.30%
One month>1 day to 1 month8.30%
Three months>1 to 3 months8.55%
Six months>3 to 6 months8.90%
One year>6 months9.00%
effective 25.07.2026 · Page 1 · accessed 31 Aug 2026Open official source ↗

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