Last Updated on 25/07/2017
IOB - Agri Transport Yojana

Objective  To provide credit facilities to farmers for purchase of Vehicle to carry out Agricultural activities.
 Eligibility (a) Farmers owning economically viable land holding or carrying out any other agricultural or allied activities generating adequate income to meet the repayment commitments are eligible.
(b) Should not be defaulters elsewhere.
 Purpose Purchase of two wheelers, three wheelers and four wheelers to be used for Agricultural purpose only.
Amount of Loan Rs 5 lacs or 85% of cost of the vehicle whichever is less.

Purchase of second hand bikes and three wheelers are not allowed. 

Second hand four wheelers can be considered after proper valuation.
Margin No margin for loans upto Rs 1 lac.
15 % margin for loans above Rs 1 lac.
Security Hypothecation of crop and Hypothecation of Vehicle.
Repayment Maximum ten years in monthly, half yearly or annual instalments, depending on crop harvest time.
Rate of Interest
You may contact the nearest Branch for interest details.

For other details, please contact your nearest IOB branch.