Canara Bank - Purchase of Tractor/Power Tiller/Farm Machinery ...

Application for
Purchase of Tractor/Power Tiller/Farm Machinery
CANARA BANK
(Head Office : Bangalore - 560002)
Enclosure to the application No. NF 499 dated ______________________ of Sri
______________________
______________________________________
1. Make H.P
Description of Tractor / Power tiller / other farm
machinery proposed to be purchased
2. Estimated cost (Enclose quotation)
3. i) Total acres to be covered by the
tractor/power tiller/other farm machinery.
ii) No. of hours the tractor/power tiller/other
farm machinery to be used annualy.
4. The need for tractor/power tiller/farm machinery.
5. Amount of loan required.
6. Source of meeting differential amount, if any

7. How the tractor/power tiller/other farm machinery
is proposed to be used when not in use on the farm.
8. Give details of short-term loans availed/applied/sanctioned for the current year :
Agency Amount Rs.
9. Cropping Pattern :
Seasons/Name
of the Crop
Kharif
(i)
(ii)
(iii)
Rabi/Summer
(i)
(ii)
(iii)
Pre-development
(Before purchase of machinery)
Post-development
(After purchase of machinery)
Area irrigated Area unirrigated Area irrigated Area unirrigated

10. Security proposed to be offered :
(a) Name of Co-obligant :
(b) Hypothecation of ________________________________ valued at Rs.
__________________
(c) Mortgage / Charge on landed property :
i) Extent : ___________________________________ acres.
ii) Survey No. :
iii) Village :
iv) Taluk :
v) District :
vi) Estimated Value : Rs. _______________________________________
11. Proposed repayment schedule :
I/We shall undertake to repay the loan within ____________________________ years by
quarterly / half yearly / yearly instalments of Rs. ______________________ or a stipulated by
the Bank.
Place :
Date : Applicant(s)’ Signature

A) MARGIN
1. Nil, upto a cost of Rs. 10000/-
Note
2. 5% in case of small and marginal farmers, for cost above Rs. 10000/-
3. 15% to 25% in all other cases, depending upon merits
A) SECURITY
1. Hypothecation of farm machinery for loans upto Rs. 15,000/-
2. C0-obligation of third party and hypothecation of farm machinery, if the amount of loan is from Rs.
15,001/- to Rs.25000/-
3. Mortgage/Charge on landed properties for loan exceeing Rs. 25,000/-
4. However, in case of tractor and power tiller, even if the amount of loan exceeds Rs. 25000/-, the
mortgage of landed property is not necessary and co-obligation/guarantee of third party may be
take.
A) DOCUMENTS TO BE PRODUCED BY THE APPLICANT
1. Extract of land records from Revenue Officials regarding lands qwned/leased in by the applicant.
2. Proforma invoice.
3. Copy of RC book after noting the lein.
4. No-due /No-objection Certificate from Co-operative/Primary land Development Bank.