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Home >> Loan >> Other Loan Schemes  >> >> Agriculture Loan Scheme  >> >> Purchase of Land for Agriculture Purposes
Purchase of Land for Agriculture Purposes

Purpose:

To finance purchase of land for Agriculture Purposes.

 

Eligibility:

Small & 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. 

 

Amount of Loan:

Maximum Rs.10 lacs.

 

Security:

Mortgage of land purchased out of Bank Finance

 

Margin:

Upto Rs. 1.00 Lac - NIL

Above Rs. 1.00 lac - 10%

 

Rate of Interest

Up to Rs. 5.0 lac

MCLR+1.00%

Above Rs. 5.0 lac

MCLE+2.00%

 

Repayment:

Loan is repayable in 7 to 12 years in HY/Yearly installments including Moratorium of Maximum 24 months.