LAND PURCHASE SCHEME
SBI introduced land purchase scheme to to assist Small & Marginal farmers and landless agricultural labourers
What is the Purpose of the scheme:
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.
Who are eligible to avail this scheme?
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.
What is the Minimum and Maximum limit of Loan amount:
Loan may be considered for:
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
Loan Repayment?
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.
How to apply for this loan
For more details click here
SBI introduced land purchase scheme to to assist Small & Marginal farmers and landless agricultural labourers
What is the Purpose of the scheme:
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.
Who are eligible to avail this scheme?
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.
What is the Minimum and Maximum limit of Loan amount:
Loan may be considered for:
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
Loan Repayment?
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.
How to apply for this loan
For more details click here