Primary Cooperative Agriculture and Rural Development Bank: For Tractor Purchase
By Co-operation, Food and Consumer Protection Department, Government of Tamil Nadu
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Quick Answer
Tamil Nadu farmers can get a tractor loan covering up to 90% of the cost, at interest rates of 11% to 12.25%.
- Funding amount
- Varies
- Funding type
- Debt
- Application deadline
- Rolling
- Eligible stage
- Revenue
- Location
- Tamil Nadu
About this loan
Farmers in Tamil Nadu can take a loan for up to 90% of the cost of a tractor. Interest rates run from 11% to 12.25%.
The scheme comes from the Co-operation, Food and Consumer Protection Department, Tamil Nadu, through the Primary Cooperative Agriculture and Rural Development Bank. It is meant to put mechanisation within reach of small and marginal farmers.
You must live in Tamil Nadu, be a farmer engaged in agriculture, and plan to use the loan only to buy a tractor.
Eligibility
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Grant providers
Provider
Co-operation, Food and Consumer Protection Department, Government of Tamil NaduChennai · Tamil Nadu · India
The Co-operation, Food and Consumer Protection Department is a Tamil Nadu state government department, headed by the Minister for Cooperation. It oversees the cooperative societies and banks across the state, and the loans in its citizen's charter are issued by those bodies…
Learn moreBenefits & Funding
- Fund type
- Debt
- Equity
- Equity-free
- Repayment
- Repayable
What You Get
The scheme offers significant financial support in the form of a loan, covering up to 90% of the total cost of a tractor. This enables farmers to invest in essential agricultural machinery, boosting their productivity and operational efficiency. The loan comes with an interest rate ranging from 11% to 12.25%, which is competitive and designed to make mechanization affordable for eligible farmers. This direct financial aid is crucial for modernization and sustainable growth in the agricultural sector.
- Disbursement
- Lump Sum
- Bootstrap friendly
- Yes
Timelines & Process
Applications
Rolling basis
Selection Process
The selection process for the tractor purchase loan involves a comprehensive review of the submitted applications. The concerned authority at the Primary Cooperative Agriculture and Rural Development Bank will verify the eligibility criteria, including the applicant's residency, farmer status, engagement in agriculture, and the explicit intention to use the loan for a tractor purchase. A financial assessment will also be conducted to evaluate the applicant's repayment capacity. This multi-stage evaluation ensures that financial assistance is provided to deserving farmers who can effectively utilize the loan for its intended purpose.
Application Process
- 1
Collect Application Form
Applicant contacts the bank to obtain the official application form for the loan.
You - 2
- 3
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How to apply
Four steps from draft to disbursement — one action each.
- 1
Draft your application
Answer the form inside the grant tracker — AI drafts each response using your past answers, so you're not starting from a blank page.
- 2
Submit on the official portal
Use the official application link and verify all details before final submission.
- 3
Follow up
Reach out 5–7 days after submitting to confirm receipt and ask about the review timeline.
Frequently Asked Questions
Who is eligible for the Tractor Purchase Loan Scheme?
The scheme is open to farmers residing in Tamil Nadu who are actively engaged in agricultural activities and intend to use the loan specifically for purchasing a tractor.
What percentage of the tractor cost does the loan cover?
The loan can cover up to 90% of the total cost of the tractor, significantly reducing the financial burden on farmers.
What are the interest rates for this loan?
The interest rates for the loan range from 11% to 12.25%, subject to market conditions and changes.
How can I apply for the tractor purchase loan?
Interested applicants must collect the application form from the Secretary/Special Officer of the nearest Primary Cooperative Agriculture and Rural Development Bank, fill it out, attach required documents, and submit it.
What documents are typically required for the application?
While not explicitly listed, applicants should expect to provide proof of residency (Tamil Nadu), farmer status, land ownership/cultivation proof, identity proof, and income details, along with the completed application form.
Is this scheme available across all states in India?
No, this scheme is specifically launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu, and is exclusively available for residents of Tamil Nadu.
What is the primary objective of this scheme?
The main objective is to provide financial assistance to farmers in Tamil Nadu for purchasing tractors, thereby promoting agricultural mechanization and improving farm productivity.
