Name: Agri Implement Loan
Brand: L&T Finance
Rating: 5 (10 reviews)

Fulfil your farming needs with our Agri Implement Loan, designed to help you acquire farming equipment such as rotavators, cultivators, trailers, trolleys, threshers, balers, and harvesters. Choose from customised loan offers ranging up to ₹ 4.25 Lakh, with competitive interest rates starting from 10%* p.a. and loan tenures up to 60 months. Our transparent process has no hidden charges, ensuring clarity at every step with repayment options aligned with your crop cycles and harvesting patterns.

Rotavator
Plough
Seed drill
Harvester

Features & Benefits
EMI Calculator
Documentation
Eligibility
Fees & Charges
Frequently Asked Questions

Loan Offering

Customised loan offerings ranging from ₹ 35 thousand to ₹ 4.25 Lakh

Flexible Repayment

Choose your repayment period from 12 to 60 months

Competitive Interest Rates

Repay your loan with easy EMIs, interest rates starting from 10%* p.a.

No Hidden Charges

Start to finish, our Loan has a transparent process

Quick Sanction

Get your loan approved within 24 hours*, ensuring quick access to funds

Faster Disbursement

Receive your loan amount within 48 hours*

Paperless Journey

Enjoy an end-to-end digital experience with our fully paperless process

Implements Funded

Boost your farming with harvester, rotavator, thresher trolley, sprayer and more

EMI Calculator

Results generated by the calculator(s) are indicative in nature.

Preferred loan amount

₹

₹35,000

₹4,25,000

Flat Rate

10%

19%

Loan tenure (months)

12 months

60 months

Estimated EMI

per month

₹ 36,690
Interest payable
₹52,41, 690

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Eligibility & Documents

Eligibility

Age Requirement:

18 years to 65 years

Income Eligibility:

Based on size of land holdings and per acre yield

Documents

Identity Proof

Aadhaar | PAN card | Voter ID | Driving License |Passport

Address Proof

Fees & Charges

List of all fees and charges for Agri Implement Loan

Processing Fee
New Tractor & Implement - Up to 1% of the loan amount or Rs. 30,000 whichever is lower + applicable taxes
Kisan Suvidha - Up to 2% of the additional loan amount or Rs. 10,000 whichever is lower + applicable taxes
Used/Preowned Tractor & Refinance - Up to 2% of the loan amount or Rs. 10,000 whichever is lower + applicable taxes
Trade advance – Up to 2% of sanction amount + applicable taxes
Prepayment/ Foreclosure Charges
Up to 2% of principal outstanding + applicable taxes
Asset valuation and verification Fee
Up to Rs.1,200/- + applicable taxes
Penal Charge/Late Payment Charge (LPC):
Up to 2% per month (p.m.) on overdue EMI + applicable taxes
Trade advance – Up to 2% per month (p.m.) on overdue amount + applicable taxes
EMI Dishonour/Bounce Charge*
*A bounce charge is a charge for
(i) dishonour of any repayment instrument; or
(ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate
As shown in the table below

Loan sanction amount (in INR)

Charges in (in INR)

< 5 lacs

Up to ₹ 500

5 – 50 Lacs

Up to ₹ 1000

>50 Lacs – 2 Cr

Up to ₹ 1500

>2 Cr

Up to ₹ 2000

RC Non submission Charges:
Up to Rs.1000/- per month post 120 days + applicable taxes
Document retrieval / Duplicate NOC charges
Duplicate NOC: Up to Rs. 1000/- + applicable taxes (charge is applicable post 3 free copies)
Repayment instrument swap Fee (per swap)
Up to Rs. 500/- + applicable taxes (Applicable only for branch walk-ins)
Part-prepayment charges
Up to 2% of part prepayment amount + applicable taxes
Field collection service charges
Up to Rs.500/- per collection + applicable taxes
Legal fees and charges
As per actuals or Up to Rs. 30,000/- whichever is lower + applicable taxes
Recovery charges
As per actuals or Up to Rs. 1,00,000/- whichever is lower + applicable taxes
Auction fees
Up to 1% of auction sale amount+ applicable taxes

Seamless Loans, Simplified Experience

Download the Planet app for a one stop loan solution with effortless management at your fingertips. Learn More

How to Apply

Apply for Agri Implement Loan with these steps

FAQs & Support

View all

How long does processing and approving of an Agri Implement Loan take?

The Agri Implement Loan offers quick processing and approval. Loans are sanctioned within 24 hours* and disbursed within 48 hours*, ensuring farmers can access funds promptly.

Is a co-borrower required when applying for an Agri Implement Loan?

A co-borrower is not necessarily required for an Agri Implement Loan, but it may depend on the specific loan requirements and the borrower's financial profile. For precise details, you can contact our customer care representatives.

What is the total amount that you can get for an Agri Implement Loan?

The total loan amount available under the Agri Implement Loan is up to ₹ 4.25 Lakh. Customised based on the borrower's need, repayment track, and land holdings. For specific details, it is recommended to apply online or contact your L&T Finance representative directly.

What type of loan is a Agri Implement Loan?

The Agri Implement Loan is specifically tailored for farmers to finance their farm machinery, equipments and implements such as harvester, rotavator, trolley, baler, seed drill, etc.

Do I have to mortgage a property to get an Agri Implement Loan?

No, you do not need to mortgage a property to obtain a Agri Implement Loan. This loan is offered based on the applicant's existing Tractor Loan repayment record and other eligibility criteria.

Do I have to provide a guarantor when applying for a Agri Implement Loan?

No, a guarantor is not required when applying for a Agri Implement Loan. The loan is provided based on the borrower's existing loan repayment record, credit score and other relevant factors.

What documents are required when applying for a Agri Implement Loan?

When applying for a Agri Implement Loan, the required documents include:
ID Proof - Aadhar/ PAN card / Voter ID / Driving License /Passport
Address Proof - Aadhar / Voter ID / Driving License /Passport / Latest telephone bill (landline) / Latest electricity bill / Latest bank account statement
Other Documents - ACH/ECS Mandate

What credit score is needed to finance an Agri Implement Loan?

While there is no specific credit score requirement for the Agri Implement Loan, having a good credit history can increase your chances of loan approval.

Can I close or repay a Agri Implement Loan early?

Yes, you can foreclose or repay your Agri Implement Loan, but foreclosure charges of 2% of the principal outstanding + applicable taxes will apply.

What is the repayment period of Agri Implement Loan?

The repayment period for the Agri Implement Loan can extend up to 60 months, allowing farmers to choose a repayment schedule that aligns with their crop cycle and income patterns.

Explore all FAQs

Farmer Loan

Having a good track record, LTF provided me with a pre-approved loan which was a huge help to my business. The FLS assisted me personally; he answered all queries. My loan was disbursed within 24 hours. I will recommend LTF to my friends & family and will prefer L&T Finance for future loan requirements.

Akshay Kumar Jha

Location here

Farmer Loan

Sanjay

Location here

Farmer Loan

My friend recommended LTF since they provide tractor loans at a lower interest rate than others, the loan process is simple, no physical documentation is required, payment was deposited the same day and I received the tractor within a week. My agricultural business has really improved thanks to the LTF.

Narayana G

Telangana

Farmer Loan

As a third-generation farmer, owning a tractor with L&T Finance's support has transformed our work. The fully digital process made it easy, with swift disbursement and flexible repayment options like EMI Protect. Now, our costs are lower, and farming is efficient. Truly, L&T Finance supports farmer prosperity.

Hardeep Soora

Hisar, Haryana

Farmer Loan

L&T Finance has supported me as a farmer since 2014, helping me finance two tractors and essential equipment. With flexible, crop-based repayments and easy EMI tracking on the PLANET App, my life has been easy. L&T Finance truly empowers us to grow better and manage finances seamlessly.

Satish Hisar

Beri, Haryana

Farmer Loan

The L&T Finance officer came home and did all the application formalities online and instantly got approval for the loan. Our EMI is in accordance with our harvesting cycle. They gave us the best interest rate and fulfilled our financing requirements.

Mr. Balu Hari Pawar

Maharashtra

Farmer Loan

When I decided to buy a tractor, I spoke to the L&T Finance official. After all the documentation, I got approval of my loan with 2-3 days. I didn’t have to go anywhere and yet my loan got sanctioned.

Bherulal Chaudhary

Ratlam, MP