IndusInd Bank on Monday launched its Tractor and farm Equipment (TFE) Finance division across the country to cater to agricultural financing.
IndusInd bank announced various schemes to the rural population, to facilitate easy payment options from time to time with hassle-free documentation.
The private sector bank offers funding with a customised payment option based on harvesting patterns for agricultural as well as commercial use. It also ensures a quick processing and transparent procedure where the loan will be processed to farmers within 4 working days with the bank’s representative personally visiting the farmer to assess required documents.
“This initiative by the bank will support the financial requirements of farmers for acquiring new age and innovative farming equipments which will play a significant role in boosting their agriculture productivity,” the bank said in a statement.
S V Parthasarathy, Head -Consumer Finance Division, IndusInd Bank said, “Recognising the various and hugely differentiated needs of today's Indian farmer, IndusInd Bank assures in providing solutions to enhance agricultural productivity through steady stream of finance. This will steadily improve the quality of life in rural India.”