Land Purchase Scheme

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Land Purchase Scheme

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.

Who are eligible?

  • Small & Marginal Farmers owning less than 5 acres of unirrigated / 2.5 acres of irrigated land in their own names, landless agricultural labourers.
  • The borrowers should have a record of prompt repayment of the loan for at least two years.
  • Good borrowers of other Banks are also eligible provided they liquidate their Outstanding to other banks.

Interest Rates

6.95% p.a.

w.e.f. 01.07.2020

*T&C Apply.

 

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