Apply for Tractor Loan Online

Modernise your farming equipment with easy tractor loans

Apply for Tractor Loan Online

Are you a farmer looking for a tractor that can make your day’s work a little less challenging? Are you a businessperson looking to purchase a tractor that can make your operation much more seamless? If so, then the HDFC Bank Tractor Loan is just what you need.

HDFC Bank provides tractor financing designed to meet your specific needs. We keep in mind how purchasing a vehicle of this sort can be an expensive investment for many. Thus, we offer high-value tractor finance, going up to almost 90% of the vehicle’s value, enabling you to make the purchase without shouldering the entire financial burden.

With our Tractor Loan, you can avail of funds to purchase new and used tractors, as per your needs. You can avail of our Tractor Loan at highly competitive interest rates, without providing any land as mortgage. Plus, you can also make the most of insurance cover, flexible tenures, and easy repayment terms. You can apply for our Tractor Loan online by meeting our eligibility criteria and minimal documentation requirements.

With our Tractor Loans for farmers and business owners, we strive to help you purchase a vehicle that will empower you in carrying out your passion and providing for others in the process.

Check out our Tractor Loan Offer 

New Tractor Loan


New Tractor Loan

  • Loan given for purchase of a “New Tractor” for fulfilling the tractor buying needs of the customer
  • Loan available upto 90% of the Tractor Cost

Used Tractor Loan


Used Tractor Loan

  • Loan given for purchase of Used Tractor or Refinance, basis parent loan’s repayment track record
  • Loan available basis existing free hold tractor
  • Funding upto 85% / upto Rs.5.0 Lacs

Harvester Loan


Harvester Loan

  • Loan given for purchase of Harvesters (Tractor mounted harvesters / Self-propelled combine harvesters / Chain harvesters etc.)
  • Funding upto 70%

Farm Implement Loan


Farm Implement Loan

  • Loan towards funding Farm Implements, such as Rotavator, Thresher, Plough, Leveler, Trolley / Tralier, Loader, Dozer etc
  • Loan available upto 70% of the Invoice Price

Tractor Loan EMI Calculator

Tractor Loan Features 

Loan amount
 Get up to 90% of the tractor cost

Interest rates
Enjoy highly competitive interest rates and processing fees

​​​​​​​ Get a loan with repayment in 12 to 60 months

Loan processing
​​​​​​​ Enjoy hassle-free documentation and speedy disbursal
• ​​​​​​​ Flexible Repayment Options
• ​​​​​​​ Types of Loans

- Loans for purchase of New / Old Tractors & Farm Equipments
- Loans available Without Land Mortgage and with Land Mortgage
- Loans available basis Registration Certificate / Repayment Track Record / Income Proof

​​​​​​​ Insurance Coverage (Asset Insurance and Life Insurance)

*Credit Shield is an insurance policy that will cover your outstanding loan against accidental death or permanent disability

Tractor Loan Eligibility 


• Minimum age - 18 years
• Maximum age - 60 years
• ​​​​​​​ Minimum Annual Income : ₹ 1 lakh (for Farmers) & ₹ 1.5 lakhs (for Commercial segment)

Tractor Loan Fees & Charges

Enclosed below are HDFC Bank Tractor Loans Interest Rates & Charges

Here is an exhaustive list of all the fees and charges to be paid for the Tractor loan:

Description of charges

Tractor Loans

Processing Fee *

Upto 2% of Loan Amount

Premature closure charges*

6% - if within 6 months from the date of disbursement on the principal outstanding

4% - After 6 months and before 12 months from the date of disbursement on the principal outstanding

2% - After 12 months from the date of disbursement on the principal outstanding

As per BCSBI guidelines, for borrowers classified as Micro and Small Enterprises(MSE) 

Prepayment of fixed rate loans upto Rs. 50 lacs is permitted without levying any prepayment penalty.

Prepayment of Floating Rate Loans / Takeover Loans is permitted without levying any prepayment penalty.

Loan cancellation

In the event of cancellation, Interest charges will be borne by the customer. Processing Fee, Stamp Duty and RTO charges are non-refundable charges and would not be waived/refunded in case of loan cancellation.

Delayed instalment payment charge

1.50% per month (18% p.a.) plus applicable government taxes on overdue instalment amount.

Legal, Repossession & Incidental charges

At actuals

Stamp Duty & other Statutory Charges

As per applicable law

CIBIL Charges (only on request)

Rs. 50/- per instance

Duplicate No Due Certificate / NOC

Rs. 500/- per Instance

Duplicate Amortization Schedule Charges

Rs 200/- per schedule

Cheque / ECS / SI Swap Charges

Rs. 500/- per Instance

Collateral & ACH Documentation Charges *

Rs. 750 per case

Loan Reschedulement / Re-booking charges

Rs. 1000/-

Cheque / ECS / SI / NACH Return Charges *

Rs. 550/- per Instance

Documentation charges (For Agri Mortgage and Used Tractor Valuation Cases) * 

Documents Charges(For Agri Mortgage -Rs 1500 and For Used Tractor Valuation Cases - Rs 1500)

Note : * Where ever notified GST and other government levies, as applicable, would be charged additionally at the applicable rates.

Average Rates offered to customer during the period of April to June 2024

Bank IRR







Annual Percent Rate(APR) offered to customer during the period of April to June 2024

Bank APR







* Exclusive of GST

Tractor Loan Documentation

•  Identity Proof : Any one of Voter ID / PAN Card / Driving License / Passport / Aadhaar* (*with customer consent)
•  Address Proof : Any one of Voter ID / Driving License / Passport / Aadhaar* (*with customer consent)
• ​​​​​​​ Proof of Signature Verification : Any one of Passport / DL / PAN Card / Bank Verification / Tehsildar Certificate
​​​​​​​• ​​​​​​​ Any one of the following
   • Income Proof : Bank Statement ; ITR of Last 2 Years
   • RC of existing asset / Repayment Track Record (wherever applicable)
   • Land Ownership Proof (wherever applicable)
   • Salary Proof (wherever applicable)

​​​​​​​*Note: This is an indicative list and additional documents may be required on case to case basis

Tractor Loan FAQs 

1.What is the rate of interest for Tractor Loan

HDFC Bank keeps the needs of farmers and business owners in mind and offers Tractor Loans at reasonable and highly competitive interest rates. To learn more about the interest rates applicable on Tractor Loans, click here.

2.What is the maximum amount offered for a Tractor Loan?

HDFC Bank aims at reducing the financial burden of making the heavy investment of purchasing a new tractor. Thus, with our Tractor Loan, you can avail funds that go as high as 90% of the total value of the vehicle you are buying.

3.What type of loan is a Tractor Loan?

Generally speaking, Tractor Loans are agricultural loans since they vehicle are primarily used in that sector of the economy. However, you can also purchase a tractor for using in your business operations. They are also considered to be term loans as the borrowed amount has to be repaid within a specific period of time.

4.What credit score is needed to finance a tractor

Credit score is a criteria considered by most lenders while approving Tractor Loan approvals. Usually, a credit score of 680+ is considered to be healthy enough. However, in certain cases, even applicants with scores as low as 520 have been able to avail of tractor financing. It is best to check with the lender in question with regards to your specific situation to get a clearer picture