Swaraj range and what it means for your loan
Swaraj is part of the Mahindra group, so Mahindra Finance is a natural option alongside banks. Bank tractor loans under agricultural lending may carry lower rates than NBFC loans.
| Popular model | Type |
|---|---|
| 744 FE | Tractor 41-50 HP (50 HP) |
| 855 FE | Tractor 41-50 HP (49.3 HP) |
| 735 FE | Tractor 31-40 HP (40 HP) |
No.2 tractor brand: 18.76% retail share in FY26 (1,96,975 units). Source: tractorjunction.com.
EMI on a Swaraj tractor
Worked examples at an example rate of 12% a year over 5 years, with 20% paid upfront. Prices are ex-showroom; the on-road price adds registration, insurance and road tax, so your actual loan may be a little higher.
| Ex-showroom price | Down payment (20%) | Loan | Monthly EMI | Total interest |
|---|---|---|---|---|
| ₹2.44 lakh (entry) | ₹48,800 | ₹1.95 lakh | ₹4,342 | ₹65,327 |
| ₹5.73 lakh (mid) | ₹1.15 lakh | ₹4.58 lakh | ₹10,197 | ₹1,53,411 |
| ₹13.45 lakh (top) | ₹2.69 lakh | ₹10.76 lakh | ₹23,935 | ₹3,60,102 |
Change the price, rate and tenure in the Tractor Loan EMI calculator.
Who finances Swaraj tractors
Mahindra & Mahindra Financial Services Ltd (Mahindra Finance). Swaraj is a Mahindra & Mahindra brand; Mahindra Finance is the group NBFC. No Swaraj-specific captive.
Dealer finance or your own bank? Dealer or brand finance is convenient and sometimes comes with offers, but the rate is not always the lowest. A bank where you already have an account may offer a pre-approved loan. Ask both for the Key Fact Statement and compare the APR and total repayable amount, not just the EMI.
Lenders for a Swaraj tractor
Any of these lenders can finance a Swaraj, whether or not it is the brand's partner. Rates as published on each lender's website.
| Lender | Published rate | Max tenure |
|---|---|---|
| Mahindra Finance | 8% - 25% p.a. | 5 years |
| ICICI Bank | 12.00% - 21.00% | 12 - 72 months |
| IDFC FIRST Bank | 12% - 16% | 72 months |
| Bank of Baroda | 12.25% - 14.50% | 72 months |
| SBI | 1-year MCLR + 3.60% to + 4.35% | Up to 5 years |
| Kotak Mahindra Bank | MCLR/Reference Rate to 30% | — |
| Punjab National Bank | — | New tractor: 7-9 years; no-mortgage… |
| Canara Bank | — | 5-9 years |
| TVS Credit | New 11% - 25% p.a.; used 14% - 34% p.a. | 12-72 months |
| Chola | New 12% - 28%; used 17% - 28% p.a. | — |
Tips before you finance a Swaraj
- Tractor loans are usually repaid half-yearly or yearly to match harvests; ask for a schedule that fits your crop cycle.
- Banks often lend under agricultural schemes at lower rates than NBFCs, but may need land records.
- Add implements to the loan only if you will use them enough; hiring may be cheaper.
- Keep insurance on the tractor active, as lenders usually require it.
Swaraj Tractor Loan in your city
Pick your city to see the Swaraj EMI with local on-road costs in mind, the documents lenders ask for there and nearby cities in the same state.
Other brands and guides
Sources
Prices and line-up checked on 4 October 2026 from: tractorjunction.com. Prices change often; confirm the on-road price with your dealer.
Frequently asked questions
What is the EMI on the cheapest Swaraj?
At about ₹2,44,000 ex-showroom, with 20% down and 12% over 5 years, the EMI is about ₹4,342. Your rate and on-road price will change this.
Does Swaraj have its own finance company?
Finance is offered through Mahindra & Mahindra Financial Services Ltd (Mahindra Finance). You can also take a loan from any bank or NBFC.
How much down payment do I need for a Swaraj?
Many lenders fund 80% to 100% of the on-road price, but a 15% to 20% down payment lowers the EMI and total interest. Check the funding limit with your lender.
Is dealer finance cheaper than a bank loan for a Swaraj?
Not always. Dealer schemes can be convenient and sometimes discounted, but compare the APR and total repayable amount in the Key Fact Statement with a bank's offer.
Which lender is best for a Swaraj?
There is no single best lender; it depends on your credit score, income and the model. Public sector banks often publish the lowest starting rates, while NBFCs may approve profiles banks decline.
KhatuLoans is not a lender and is not paid by the lenders or brands named here to rank them. Rates, fees and prices change; always confirm with the lender and dealer. Read our editorial policy and how we make money.