Agriculture being the back bone of the Indian Economy, Baroda U.P. Bank has contributed significantly in accelerating the pace of rural development by providing finance to farmer.
The mode of finance covers activities for:
• purchase of new tractor,
• tractor drawn implements,
• power tiller and other agriculture machines etc.
Progressive, farmers engaged in cultivation of crops as owner of land, and who utilize the tractor/ machinery economically to the minimum extent of 50% on their own land holding.
• Should have perennially irrigated land of 4 acres
(tractors to farmer with land holding below 6 acres of irrigated land is considered for tractors with horse power upto 35 hp.)
• Should cultivate high value commercial crops such as sugarcane, grapes, bananas & vegetables.
• Should have progressive outlook in adoption of improved farm practices and modern agriculture technologies.
Nature Of Facility:
Repayment period is fixed on half yearly or annual basis, based on income generation from crops taken and off farm activities of the farmer. The maximum repayment period is 9 years for tractors and 7 year for power-tiller.