NEWS & ADVICE : AUTO INSURANCE
SBI to introduce EMI facility on tractor loan
By Neelima Shankar
Sep 15, 2014
Print    Email    RSS   

The largest lending bank of the public sector – State Bank of India has decided to introduce the EMI facility for the farmers. This mode of repayment will help the farmers to pay back their loan with ease.

With the purpose to curb the problem of rising bad loan in the tractor segment bank has presented this initiative, further the bank is also boosting women of the farm household to become the co –borrower. The CMD of the bank reported that prior to this bank asks the farmers for the repayment after the cropping season is over.

Bank has started Stree Shakti tractor loans”, whereby the lady of the house is also made a co-borrower. It charges 12 per cent interest on the loan. In rural areas tractors are used by the people as a means of conveyance also. The EMI per Rs1 lakh of loan works out to ₹2,225. However, with the introduction of the revamped tractor loan product, SBI expects more flow in the tractor segment.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Tips to reduce Auto Insurance Premium
Some New Ways to Save on Your Car...
Kinds of auto insurance coverage
A general guide to Auto Insurance
All about Vintage/Classic car insurance in...


return off
return off
ℂall girℒs iℕ Sakinaka 07045557873☻ Powai...
what is my CIF no. which is not clear on my pass book
I want to know my account details from 24.03.2017 to...
How can I clear my CIBIL PROBLEM?

NEWS THIS WEEK
New endowment plan launched by PNB met life Feb 18, 2015
Yes bank bagged High performance award 2014. Feb 13, 2015
Banks may strike at February end Feb 4, 2015
Reliance industries to enter in to banking in association with the SBI Feb 3, 2015
OBC bank reported a drop down in its net profit Jan 30, 2015
News Archive