What are the current tractor loan rates?

SBI: 9.25-11.5%. HDFC: 11-14%. Mahindra Finance: 12-16%. Farmers with land records and Kisan Credit Card typically get the lowest rates.

What's the maximum tenure?

Up to 9 years for agricultural use under priority-sector norms. Commercial use is usually capped at 5-6 years.

Do I need to pay down payment?

Yes — typically 10-25% of on-road price. Some govt-linked schemes fund up to 90% for small and marginal farmers.

Are there subsidies on tractor loans?

Interest subvention of 1.5-3% is available under schemes like SMAM (Sub-Mission on Agricultural Mechanization) and state-specific programs. Check with your regional bank.

What are the current tractor loan rates?

SBI: 9.25-11.5%. HDFC: 11-14%. Mahindra Finance: 12-16%. Farmers with land records and Kisan Credit Card typically get the lowest rates.

What's the maximum tenure?

Up to 9 years for agricultural use under priority-sector norms. Commercial use is usually capped at 5-6 years.

Do I need to pay down payment?

Yes — typically 10-25% of on-road price. Some govt-linked schemes fund up to 90% for small and marginal farmers.

Are there subsidies on tractor loans?

Interest subvention of 1.5-3% is available under schemes like SMAM (Sub-Mission on Agricultural Mechanization) and state-specific programs. Check with your regional bank.

Finance

Tractor Loan EMI Calculator

Name: Tractor Loan EMI Calculator
Availability: InStock
Author: CalculatorDesk

Calculate EMI and total interest for a tractor loan under agri or commercial schemes.

By CalculatorDeskUpdated 21 Aug 2026

Loan amount

₹

₹ 0₹ 25,00,000

Down payment

₹

₹ 0₹ 7,00,000

Reduces the financed principal.

Interest rate

1%20%

Tenure

yrs

1 yrs9 yrs

Monthly EMI

₹15,220

Principal: ₹7,00,000
Total interest: ₹2,13,182
Total payment: ₹9,13,182

Principal vs interest

Principal76.7%
Interest23.3%

What is Tractor Loan EMI?

Tractor loans finance new or used tractors for agricultural or commercial use. Under priority-sector lending, farmers get concessional rates (9-12%) and longer tenures (up to 9 years). Kisan Credit Card holders often get an additional rate discount.

Formula

The standard amortizing EMI formula:

EMI = P × r × (1 + r)^n / [(1 + r)^n − 1]

P = loan principal
r = monthly interest rate (annual ÷ 12 ÷ 100)
n = tenure in months

How to use this calculator

Enter the tractor's on-road price, your down payment (usually 10-25%), the lender's interest rate and tenure. Half-yearly or annual repayment options exist for pure agri loans — this tool assumes monthly EMI for simplicity.

Frequently asked questions

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