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Our Bureau

Mumbai , Nov. 23

GREAVES Cotton Ltd has tied up with Bank of India (BoI) to provide finance to Greaves power tillers and jointly launched the "BoI Greaves farm mechanisation (power tiller) scheme".

The scheme is targeted at small, marginal farmers and traders who can buy a Greaves power tiller through the 150 dealerships and avail of 85 per cent finance from any of the bank branches. The rate of interest will be 8.5 per cent for loans up to Rs 50,000 with repayment options of up to 9 years, said a press release.

The interest rate would be one per cent below the prime lending rate of BoI for loan amounts between Rs 50,000.

More Stories on : Public Sector Banks | Alliances & Joint Ventures | Agriculture

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