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BoI ties up with SAS Motors

NEW DELHI: Bank of India (BoI) has tied up with SAS Motors for giving cheaper loans to farmers buying the small tractor `Angad', costing Rs. 99,000 only. For small farmers, the initial cost of getting a tractor will come down to less than Rs. 18,000 as the balance is being financed by BoI under a new scheme `BoI-Angad Farm Mechanisation Tractor Scheme'. The scheme offers a loan of 85 per cent of the cost (about Rs. 81,000) at a concessional rate of 8.5-10.5 per cent for seven-nine years.

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