Mahindra and State Bank of India tie-up for tractor and farm machinery financing in Punjab

Chandigarh, March 23, 2023: Mahindra & Mahindra’s Farm Equipment Sector, the world’s largest tractor manufacturer by volume, has tied up with the State Bank of India (SBI) to provide easy loan options on their tractors and farm machinery products across India.
 

Customers can visit the nearest Mahindra Tractor dealership to avail financing options on Mahindra’s range of tractors and farm machinery or visit the nearest SBI branch to initiate the application process. Customers are required to submit their KYC documents, proof of income and property documents to initiate the process.  

 
Commenting on the announcement, Hemant Sikka, President – Farm Equipment Sector, Mahindra & Mahindra Ltd. said, “Financing is crucial to ensuring that farmers are able to choose the right farm equipment for smooth running of their operations and at Mahindra we are pleased to partner with SBI in Punjab for financing of Mahindra’s wide range of tractors and farm machinery. Through this partnership with SBI, we aim to enable farmers to avail hassle-free, affordable, and flexible credit facilities, as we aim to Transform Farming & Enrich Lives through mechanisation on India’s farmlands.”
 

Speaking on the tie-up with Mahindra & Mahindra Ltd. for Tractor & Farm Machinery financing, Shantanu Pendsey, CGM – Agri Business Unit & Govt. Sponsored Schemes, SBI said, “Technology plays a major role in increasing farmers productivity, as well as incomes and we at SBI, aim to deliver the best financial solutions to farmers to buy the best farm equipment solutions available in the country. Our partnership with Mahindra will ensure sale of farm equipment through one of the widest network of touchpoints across the country, bringing ease and convenience into the lives of farmers through a range of our tailor-made finance schemes.”