Bank Loan For Purchase Of Agricultural Land

August 21, 2020 in Hyderabad

Purpose To assist Small & Marginal farmers and landless agricultural labourers for purchase of Land, who are our existing borrowers to consolidate land holdings & development of Wasteland & fallow lands.

Features

Loan Amount : Cost of land
Provision of irrigation facilities & land development (shall not exceed 50% of the cost of the land).
Purchase of farm equipments.
Registration charges & stamp duty.
Loan amount will be 85 % of the cost of the land, as assessed by the bank, subject to the maximum of Rs 5 lakhs Security
Mortgage of land to be purchased
Max. 9-10 years beginning after the expiry of gestation period, with half-yearly installments. Gestation period will be maximum of 1 year for the developed land and 2 years for the land to be developed.

Source: https://sbi.co.in/web/agri-rural/agriculture-banking/miscellaneous-activities/land-purchase-scheme#