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purchase of land for agriculture purpose

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  • purchase of land for agriculture purpose
  • Eligibility
    Purpose To finance purchase of land for Agriculture Purpose
    Eligibility Small and marginal farmers i.e., those who would own maximum of 5 acres of non-irrigated land or 2.5 acres of irrigated land including the land to be purchased.
  • Finance
    Amount of loan Maximum ₹ 10.00 lakh
  • Security and Margin
    Security Mortgage of land purchased out of bank finance.
    Margin
    Upto ₹ 1.00 lakh Nil
    Above ₹ 1.00 lakh 10%
  • Rate of Interest and Repayment
    Rate of Interest
    Up to ₹ 5.00 lakh MCLR+1%
    Above ₹ 5.00 lakh MCLR+2%
    Repayment period Loan is repayable in 7 to 12 years in HY/Yearly installments including moratorium of maximum 24 months.
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