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Magma Tractor Loans Interest Rate & Charges

TRACTOR LOAN INTEREST RATE
  • Our Interest Rates on Tractor Loans vary from 16% to 20% depending on a host of factors. Magma has customized schemes to meet the needs of the customer
Foreclosure Charges
  • 5% of the Principal Outstanding for pre-closures beginning 6 months after date of agreement
  • No foreclosure allowed within 6 months from date of availing the tractor loan
LATE PAYMENT PENALTY
  • 3% per month