Updated: 4 October 2026

ICICI Bank offers tractor finance under the name "Farm Equipment Loans". The page covers new tractors, used tractors, harvesters, and refinance or top-up on an existing tractor loan. Funds must be used only for agricultural equipment.

ICICI Bank does not publish an interest rate for this product. The only figures on the page are inside an EMI calculator, which is marked as "for representation purpose only".

Types of loan

TypeWhat the bank says
New Tractor LoanFinance for new tractors with repayment options designed to match the cropping cycle and income flow
Used Tractor LoanLoans for pre-owned tractors with quick processing and minimal documentation
Harvester LoanLoans for harvesters and other high-value farm equipment
Tractor Refinance and Top-UpRefinance against an existing tractor loan, or a top-up loan for additional farm needs

Interest rate

  • No rate, rate range or benchmark-plus-spread is published for the product.
  • The EMI calculator on the page lets a user pick a rate from 14% to 19%, with 16% as the default. The page states that the values are for representation only and final values may vary subject to the bank's policy. This is not an offer rate.
  • Whether the rate is fixed or floating is not stated.
  • The final rate is known only from the sanction letter.
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Eligibility

  • Age: 18 to 65 years. A permanent house (residential property) is required.
  • Credit score: CIBIL score of 650 or more is preferred, but lower scores might be considered. Repayment history and income profile are weighed.
  • Land: proof of agricultural land ownership with an irrigation source is mandatory for applicants. The minimum area is not published.
  • Income proof: in certain cases loans may be approved on land and repayment proof, but income tax returns are generally preferred.
  • Co-applicants must also give identity, address and basic KYC documents.

The maximum finance, margin or down payment, security and guarantor terms are not published on the page. The page says the loan is "tailored to match your equipment and land holding".

Tenure and repayment

  • Tenure: 12 months to 72 months, depending on loan type and repayment capacity.
  • Instalments: monthly, quarterly or half-yearly.
  • A moratorium is not mentioned.
  • Part payment: allowed after the first instalment with no extra charges.
  • Prepayment: subject to applicable foreclosure charges. The foreclosure percentage is not shown on the product page.

Fees

ChargeAs published
Processing fee2% of the loan amount, plus documentation charges and GST
Documentation chargesMentioned, amount not shown on the product page
Foreclosure chargesApplicable, amount not shown on the product page

The bank points to a separate service charges page for the full schedule.

Documents

  • Identity and address: Aadhaar card, valid passport, driving licence, voter ID, PAN card, ration card, NREGA card or an NPR letter with name and address.
  • Age proof: valid passport, driving licence, voter ID, NREGA card or NPR letter.
  • Photographs: two recent passport-size photographs.
  • Land: document showing agricultural land ownership with an irrigation source.
  • Bank: last 1 month's bank statement and a cancelled cheque. An applicant without a bank account can open an ICICI Bank account with zero balance.
  • Farmers and self-employed: bank statements of the last 6 months, last 2 years' ITRs (certified or audited by a CA), computation of income, P and L account, balance sheet, and GST returns of the last year.
  • Salaried: latest Form 16, latest one-month salary slip and 6 months' bank statements.

The list is indicative and more documents may be asked case by case. Firms, trusts, companies and societies have a separate document list on the bank's page.

How to apply

  1. Visit any ICICI Bank branch or the nearest dealership. Online application through the bank website is also listed.
  2. Submit the completed application form and KYC documents.
  3. Property or land and equipment evaluation, if required.
  4. Loan eligibility assessment and sanction.
  5. Signing of the loan agreement and completion of formalities.
  6. Disbursement, stated as within 1 to 2 days. Approval is stated as within 1 to 2 working days.

Helpline: give a missed call on 8268001808 or call 1800 1080.

Used tractor, refinance and top-up

The lead form on the page offers New Tractor, Top-Up, Refinance, Used Tractor and Harvester as product types. Separate rate, margin or age-of-tractor rules for used tractors are not published.

Before signing

  • Ask for the interest rate in writing and whether it is fixed or floating, and whether it is charged on the reducing balance.
  • Ask for the foreclosure charge percentage and the documentation charge amount before paying anything.
  • Ask whether any insurance is added to the loan and whether it is optional.
  • Check that the instalment pattern, monthly, quarterly or half-yearly, matches when the harvest money arrives.
  • Keep the sanction letter and the repayment schedule.

Work out the monthly instalment with the EMI calculator and the full cost with the on-road price tool. See the tractor loan overview, tractor subsidy, tractor prices, tractor dealers and Kisan Credit Card.

Sources

Tractor loan by lender