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Bank of Maharashtra Farmer Two and Three Wheeler Loan

Up to ₹2 lakh to buy a new two-wheeler or three-wheeler, including an electric vehicle, for farm supervision or transport of produce, inputs and labour, with repayment over five to seven years.

Interest rateCurrent effective 12.15% p.a.Maximum amount₹2 lakh.TenureFive to seven years, with monthly, quarterly, half-yearly or yearly instalments aligned with the activity's cash flow and harvest cycle.
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Quick eligibility check

Bank of Maharashtra Farmer Two and Three Wheeler Loan

0 of 7 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: ₹1.50 lakh net annual income, plus at least two acres of perennially irrigated or four acres of seasonally irrigated land?

Published source: Minimum income

2Does your annual income meet this requirement: Applicant must be at least 18 and no older than 70 at maturity, have at least ₹1.50 lakh net annual income, and own at least two acres of perennially irrigated or four acres of seasonally irrigated land?

3Do you meet this requirement: A valid driving licence or licensed driver is required?

4Document checkDo you have this required document or proof: Loan application Form 138 and Enclosure B2?

Published source: Minimum income

5Document checkDo you have this required document or proof: 7/12, 8A and 6D land extracts?

Published source: Minimum income

6Document checkDo you have this required document or proof: Co-applicant income documents where applicable?

Published source: Minimum income

7Document checkDo you have this required document or proof: No-dues certificates including PACS?

Published source: Minimum income
0 of 7 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 a new two-wheeler or three-wheeler, including an electric vehicle, used for farm supervision or transport.View source
The purpose row lists eligible vehicle types and uses.
Source
Farmer Two / Three Wheeler Loan
Page / section
Facility; Purpose
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rateCurrent effective 12.15% p.a.View source
The product publishes one-year +3.15%; current one-year is 9.00%.
Source
Farmer Two / Three Wheeler Loan and current notice
Page / section
Rate of Interest; page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkOne-year MCLR 9.00% + 3.15%.View source
The current benchmark is combined with the exact product spread.
Source
with effect from 25.07.2026
Page / section
page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNot published.View source
No fee-inclusive appears in the reviewed official sources.
Source
Farmer Two / Three Wheeler Loan
Page / section
Complete product table and linked current schedules
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum income₹1.50 lakh net annual income, plus at least two acres of perennially irrigated or four acres of seasonally irrigated land.View source
The scheme publishes both the numeric income and land thresholds.
Source
Farmer Two / Three Wheeler Loan
Page / section
Income & Land holding criteria
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum amount₹2 lakh.View source
The product page states the ₹2 lakh maximum.
Source
Farmer Two / Three Wheeler Loan
Page / section
Loan Amount
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
TenureFive to seven years, with monthly, quarterly, half-yearly or yearly instalments aligned with the activity's cash flow and harvest cycle.View source
The repayment row publishes the range and available frequencies.
Source
Farmer Two / Three Wheeler Loan
Page / section
Repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Processing feeNil because the current agriculture term-loan tariff is nil up to ₹5 lakh and this scheme is capped at ₹2 lakh.View source
The current tariff's nil slab exceeds the scheme maximum.
Source
Service Charges - Commercial, and Agriculture Credit
Page / section
Processing Fees - Term Loan: including Agriculture Credit
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment charge2% of the prepaid amount when prepayment exceeds 25% of the sanctioned limit; nil when principal outstanding is below 25% of sanctioned limit; not applicable to Micro and Small Enterprises.View source
The current all-credit term-loan rule states the threshold and exemption.
Source
Service Charges - All Credit
Page / section
Prepayment Charges - Term Loan
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • New two- and three-wheelers including electric vehicles
  • Maximum ₹2 lakh
  • Repayment over five to seven years aligned with farm cash flow
  • Nil agriculture term-loan processing fee at this published maximum
  • Finance covers ex-showroom price, registration and insurance subject to 25% margin

Eligibility

  • Applicant must be at least 18 and no older than 70 at maturity, have at least ₹1.50 lakh net annual income, and own at least two acres of perennially irrigated or four acres of seasonally irrigated land. A valid driving licence or licensed driver is required.

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

Documents the bank lists

  • Loan application Form 138 and Enclosure B2
  • 7/12, 8A and 6D land extracts
  • Co-applicant income documents where applicable
  • No-dues certificates including PACS
  • Thirty-year legal search where land is mortgaged
  • Authorised-dealer vehicle quotation
  • Registrar/Sub-Registrar valuation certificate
  • Invoice, receipt, RC copy with bank charge and insurance with bank clause before/after disbursement as applicable
  • Guarantee Form F-138 and guarantor records where applicable

Related official documents

Scheme for financing farmers for Purchase of Vehicles (Two / Three Wheelers)official-product-page · current · accessed 31 Aug 2026
↗
Bank of Maharashtra Service Charges - Commercial, MSME and Agriculture Creditofficial-pdf · current · accessed 31 Aug 2026
↗
Marginal Cost of Funds Based Lending Rates with effect from 25.07.2026official-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

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Facility · Published detailAgricultural Term Loan

This value is copied from Farmer Two / Three Wheeler Loan — complete published scheme table. Check the table notes before relying on it.

Source: Farmer Two / Three Wheeler Loan · Complete scheme 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 · 13 rows · 2 columnsFarmer Two / Three Wheeler Loan — complete published scheme tableView tableHide table

Scroll sideways to view every column

Farmer Two / Three Wheeler Loan — complete published scheme table
ParticularPublished detail
FacilityAgricultural Term Loan
PurposeNew two-/three-wheelers including EVs for farm supervision and transport of produce, inputs and labour
EligibilityAgriculturists, allied-activity operators and agriculture-input producers/distributors; valid licence or licensed driver
Age18+; no older than 70 at maturity
Income and land₹1.50 lakh net annual income; two perennial-irrigated or four seasonal-irrigated acres
AmountMaximum ₹2 lakh
Margin25% of ex-showroom price plus registration and insurance
RateOne-year +3.15%; current 12.15%
SecurityVehicle hypothecation up to ₹2 lakh; mortgage/third-party guarantee if amount exceeds ₹2 lakh
RepaymentFive to seven years; monthly/quarterly/half-yearly/yearly, linked to crop/activity cash flow
InsuranceAsset insured for full value
Conditions; / defaulter check; originals before disbursement; dealer ; invoice/receipt/RC/insurance with bank clause
DocumentsForm 138/B2; land records; co-applicant income evidence; no-dues; 30-year search where mortgaged; dealer quotation; registrar valuation; guarantee and guarantor records
Farmer Two / Three Wheeler Loan · Complete scheme 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 monthMore than 1 day to 1 month8.30%
Three monthsMore than 1 month to 3 months8.55%
Six monthsMore than 3 months to 6 months8.90%
One yearMore than 6 months9.00%
with effect from 25.07.2026 · page 1 · accessed 31 Aug 2026Open official source ↗

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