A majority of Indians are involved in agricultural activities, and a tractor plays a crucial role in fueling their growth and productivity. It saves time and resources required for various tasks like planting and harvesting. Additionally, modern tractors can be attached to different types of equipment to fertilize, plant, and harvest larger areas in a short time. Apart from this, they can be used to transport seeds, farming inputs, and fertilizers.
Many leading brands offer different types of such vehicles, which can be easily purchased by availing of a tractor loan online. Here are the top four brands suitable for Indian agricultural conditions.
- John Deere India Private Ltd.
It is the Indian subsidiary of the United States-based Deere & Company. John Deere manufactures different types of tractors across plants in Pune and Vadodara.
- Mahindra & Mahindra (M&M)
M&M is the largest tractor company by volume across the globe. It is also the leader in the Indian market, and the company has manufactured superior-quality and affordable tractors for several decades now.
- Escorts
This group has sold over six lakh tractors in the 27–75 HP range since its inception. The company produces tractors under three brands—Escort, Powertrac, and Farmtrac. From 1971–1992, Escorts had a joint venture with Ford. However, since 1992, it has been operating as an individual brand after Ford decided to quit the formation.
- Sonalika (International Tractors Ltd.)
Sonalika Tractors, along with YANMAR from Japan, produces around 200 tractors per day. The vehicles are designed by the Central Mechanical Engineering Research Institute (CMERI).
Now that you know the top brands, you may choose from different types of tractors based on your needs. Some factors to consider include horsepower, engine, hydraulics, lift capacity, transmission, safety, and comfort. If you have a limited budget, you may opt for a used tractor. However, even if you do not have the entire amount and wish to own a brand-new model, you may avail of tractor finance and purchase one without any financial constraints.
Most banks and non-banking financial companies (NBFCs) offer these loans with minimal documentation and simple eligibility norms. Contrary to popular belief, the tenure is flexible and tractor loan interest rates are competitive, ensuring you have no difficulty in repaying the money on time.
Mahindra Finance is a popular NBFC that offers hassle-free funding. Visit their website to know about the eligibility criteria, interest rates, and tractor loan documents required.
