Documents required for New Tractor Loan

Tractor Loan Required Documents

Understanding the Tractor Loan documents needed is the first step to owning the tractor that powers your farm. These documents are the backbone of your loan application, ensuring a quick and smooth approval process. The documents required for Tractor Loan include identity proof, income proof, address proof and bank statements, which help substantiate your eligibility.

List of Documents Required for Tractor Loan

Documents required*	ID Proof	Address Proof
Passport	y	y
Pan Card	y
Driver's License	y	y
Voter's ID	y	y
Aadhaar Card	y	y
Utility Bill		y
Driving License	y	y
Job Card Issued by NREGA duly signed by an officer of the State Government		y
Letter issued by the National Population Register containing details of name and address.		y

* Additional documents may be asked

What are the Benefits of L&T Finance New Tractor Loan

Reduced Initial Investment: Access up to 90% financing for purchase of the tractor.

Flexible Repayment Options: Multiple repayment plans to align with your agricultural cycle.

Competitive Interest Rates: Affordable financing options to suit your budget.

Modernisation of Agriculture: Access to advanced technology for improved productivity and efficiency.

Steps to Apply for a New Tractor Loan

Apply for New Tractor Loan with these steps

1. Apply Online
Click on the "Apply Now" button in the New Tractor Loan section and fill in the form with your personal details and loan requirement

2. Get in Touch
Visit the nearest Tractor dealership and ask for L&T Finance Field Representative to understand more on available loan offers

3. Eligibility and Document check
Our representative will check your eligibility and verify your documents before processing the loan

4. Get Loan Disbursment
After approval, your loan amount will be directly disbursed to the dealership for a seamless purchase process

FAQs & Support

View all

Is agricultural land ownership proof necessary for a Tractor Loan?

While not always mandatory, we may request proof of agricultural land ownership to assess eligibility and ensure proper loan utilisation.

Can I use my Tractor Loan documents to apply for a second tractor loan?

While some documents may overlap, each loan application is unique and might require additional or updated documentation.

What property documents are required for a Tractor Loan?

Agricultural Land Documents would be required to confirm land ownership and ensure end utilisation.

What are the KYC documents required for a Tractor Loan?

KYC documents required for a Tractor Loan typically include identity and address proof, such as an Aadhaar card, PAN card, passport, or driving license.

Do I need a co-applicant for a Tractor Loan, and what documents are needed?

Yes, Co-applicant can be needed in specific cases as per policy requirements. If needed, you'll require their KYC documents, proof of income, and consent as part of the application.

Is a PAN card mandatory for getting a Tractor Loan?

Yes, a PAN card is usually mandatory as it serves as a primary identity and proof of financial transaction for the loan application.

What documents are required for a Tractor Loan application?

The documents required for a Tractor Loan application include identity proof, address proof and bank passbook. This helps verify your eligibility and financial stability.

Is a credit score check required for a Tractor Loan?

Yes, a credit score check is a part of the evaluation to gauge repayment reliability. A good credit score can also influence favourable interest rates.