Bank is asking for papers for my tractor loan. What documents should I keep ready so it does not get delayed?
2 Answers
Requirements differ by lender but the common set is: identity and address proof (Aadhaar, voter ID), PAN, recent photographs, land ownership records or revenue documents showing your holding, bank statements or income proof, and the proforma invoice or quotation for the tractor from the dealer. If you have a KCC or existing relationship with the bank it can speed things up. For tenant or leased land cases the lender may ask for a lease agreement. Keep originals and self attested copies ready. Ask your specific bank branch for their exact checklist before you apply, since some add requirements like a guarantor or post dated cheques.
My loan got delayed because my land record had an old name. Get your revenue papers updated first.