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Maha Agri-machinery Rental Scheme

Up to ₹5 crore for new machinery and vehicles used to provide custom agricultural services, with at least 15% margin and repayment up to seven years.

Interest rateCurrent risk-based range 8.15%-9.20% p.a.Maximum finance₹5 crore per borrower; no minimum limit.TenureUp to seven years including up to six months' moratorium, with monthly, quarterly, half-yearly or annual instalments.
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Quick eligibility check

Maha Agri-machinery Rental Scheme

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: Eligibility / credit profile

2Do you meet this requirement: Eligible custom-service operators need a CIBIL score above 600?

Published source: Eligibility / credit profile

3Do you meet this requirement: internal minimum BBB rating applies above ₹25 lakh aggregate exposure?

Published source: Eligibility / credit profile

4Do you meet this requirement: The scheme is for eligible custom-service operators and rural entrepreneurs?

5Do you meet this requirement: Only brand-new machinery is eligible?

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

Published source: Eligibility / credit profile

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

Published source: Eligibility / credit profile

8Document checkDo you have at least one of these required documents: Salary, ITR, Form 16, balance sheet or profit-and-loss statement where applicable?

Published source: Eligibility / credit profile

9Document checkDo you have this required document or proof: No-dues certificates including PACS?

Published source: Eligibility / credit profile
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Maha Agri-machinery Rental Scheme
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 typeTerm loan for new machinery and vehicles used in custom agricultural services.View source
Published product-page or tariff row reviewed in full.
Source
MARS
Page / section
Facility; Purpose
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rateCurrent risk-based range 8.15%-9.20% p.a.View source
Published product-page or tariff row reviewed in full.
Source
MARS and current notice
Page / section
Rate; page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkRLLR 8.05% + 0.10%-1.15%.View source
Published product-page or tariff row reviewed in full.
Source
MARS and effective 25.07.2026
Page / section
Product rate; page 1
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNot published.View source
Published product-page or tariff row reviewed in full.
Source
MARS
Page / section
Complete page and schedules
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Eligibility / credit profileNo salary floor. Eligible custom-service operators need a CIBIL score above 600; internal minimum BBB rating applies above ₹25 lakh aggregate exposure.View source
Published product-page or tariff row reviewed in full.
Source
MARS
Page / section
Eligibility; Credit Rating; Conditions
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum finance₹5 crore per borrower; no minimum limit.View source
Published product-page or tariff row reviewed in full.
Source
MARS
Page / section
Quantum
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
TenureUp to seven years including up to six months' moratorium, with monthly, quarterly, half-yearly or annual instalments.View source
Published product-page or tariff row reviewed in full.
Source
MARS
Page / section
Repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Processing feeNil up to ₹5 lakh; 1% above ₹5 lakh to the product's ₹5 crore maximum.View source
Published product-page or tariff row reviewed in full.
Source
Service Charges
Page / section
page 81
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment charge2% when prepayment exceeds 25% of sanctioned limit; nil below the published outstanding threshold; MSEs exempt.View source
Published product-page or tariff row reviewed in full.
Source
Service Charges - All Credit
Page / section
Term-loan prepayment row
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Maximum ₹5 crore per borrower
  • Custom-hiring centres and specialized farm-service equipment
  • New machinery and vehicles
  • Up to seven years
  • Up to six months' moratorium

Eligibility

  • The scheme is for eligible custom-service operators and rural entrepreneurs. Only brand-new machinery is eligible; second-hand assets are excluded. score must exceed 600, and internal BBB rating applies above ₹25 lakh aggregate exposure.

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
  • Salary, , Form 16, balance sheet or profit-and-loss statement where applicable
  • No-dues certificates including PACS
  • Legal search and valuation above ₹1.60 lakh where land is mortgaged
  • Authorized-dealer machinery or vehicle quotation
  • Guarantee Form F-138 and guarantor records
  • Invoice, receipt, RC with bank charge and insurance

Related official documents

MCLR and RLLR with effect from 25.07.2026official-pdf · current · accessed 31 Aug 2026
↗
Maha Agri-machinery Rental Schemeofficial-product-page · current · accessed 31 Aug 2026
↗
Bank of Maharashtra Service Charges - Commercial, MSME and Agriculture Creditofficial-pdf · current · accessed 31 Aug 2026
↗

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Loan repayment estimate

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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

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Facility · Published detailTerm Loan

This value is copied from Maha Agri-machinery Rental Scheme - complete published table. Check the table notes before relying on it.

Source: MARS · 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 · 13 rows · 2 columnsMaha Agri-machinery Rental Scheme - complete published tableView tableHide table

Scroll sideways to view every column

Maha Agri-machinery Rental Scheme - complete published table
ParticularPublished detail
FacilityTerm Loan
PurposeCustom-hiring centres; new tractors/tillers/bulldozers/trailers/harvesters/threshers/sprayers/implements; aerial spraying; drilling rigs; well/lift-irrigation equipment; farm-produce transport; excavators; milk tankers; poultry trucks; bullock carts
Asset conditionBrand-new machinery only; second-hand and used assets excluded
EligibilityIndividuals, firms, /, companies, , , , farmer cooperatives and rural entrepreneurs
QuantumNo minimum; maximum ₹5 crore per borrower
MarginMinimum 15% for new asset
Credit ratingInternal rating above ₹25 lakh aggregate exposure; minimum BBB
Rate+0.10% to +1.15%
SecurityAssets hypothecated; compliant immovable-property collateral/guarantor; collateral norms for qualifying ancillary activities
InsuranceComprehensive insurance including flood and earthquake with bank clause
RepaymentUp to seven years including up to six months' moratorium; monthly/quarterly/half-yearly/annual instalments
Conditions; / defaulter checks; CIBIL above 600; direct supplier disbursement; invoice, RC and insurance
DocumentsForm 138/B2; land/boundary records; income/financial evidence; no-dues/PACS; legal search/valuation; dealer quotation; guarantee/guarantor records
MARS · Complete table · accessed 31 Aug 2026Open official source ↗
Table 2 · 6 rows · 3 columnsBank of Maharashtra benchmark rates effective 25 July 2026View tableHide table

Scroll sideways to view every column

Bank of Maharashtra benchmark rates effective 25 July 2026
Benchmark / tenorResidual maturityRate p.a.
Overnight 1 day7.30%
One-month >1 day to 1 month8.30%
Three-month >1 to 3 months8.55%
Six-month >3 to 6 months8.90%
One-year >6 months9.00%
External benchmark8.05%
and effective 25.07.2026 · Page 1 · accessed 31 Aug 2026Open official source ↗

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